Public/ Products Liability

Public Liability

Insurance against a company’s legal liability for injury to the public or for loss of or damage to property not owned by the company or in their custody or control.

  • Limit of Indemnity – The limit of indemnity provided relates to any one occurrence or series of occurrences arising out of one event.

 

Premiums are calculated on estimated annual wages and/or turnover, and then adjusted at the end of the policy period based on actual declared figures. This adjustment could result in an additional or return premium.

 

Products Liability

Insurance against the company’s legal liability for injury to the public or for loss of or damage to property not owned by the company or in their custody or control, caused by the goods a company may manufacture, supply, sell, repair, service, maintain or test.

  • Limit of Indemnity – The limit of indemnity provided relates to any one period of insurance.

 

Financial Loss

An extension to the Public/ Products Liability Insurance resulting in pure financial loss is caused by a product or action that did not result in any physical damage.