Professional Indemnity Insurance

Small business professional indemnity insurance is an extremely important investment, whatever industry a business deals in. Finding the right deal for cheap professional indemnity insurance will afford a business with ongoing peace of mind, by covering for any compensation that may need be paid out to third parties to put right a mistake or cover the costs of legal fees incurred as a result of negligence.

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Public liability – what is it?

‘What is public liability insurance?’ is a very important question for any business owner to ask when they are considering the best combination of insurance types to invest in.

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Employer’s Liability – What is it?

The primary reason for investing in employer’s liability insurance is that the compensation costs of defending a business against an employee claim will invariably be very large and potentially extremely damaging to a business. Whatever capacity a person is working in, they are able to trigger a claim; even voluntary or unpaid helpers, or staff who are self employed but operating from a business premises could make a claim.

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Product liability explained

Product public liability insurance would handle the fees and expenses incurred even where a product that has caused harm, is faulty or has not been directly manufactured on a business premises or by the business. Product liability insurance for small business purposes is essential; as aforementioned, even if a product has not been manufactured directly by a business, the business could be liable to pay compensation if they have sold it and it turns out to be a faulty or dangerous product.

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How does Bankruptcy affect public Liability Insurance?

Public liability insurance for bankrupts is a particularly difficult area of insurance to discuss, since the financial implications of bankruptcy can be extensive and long term. Unfortunately, both discharged and non-discharged bankrupts are likely to have certain problems finding a suitable public liability insurance policy for their needs.

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Liability Insurance for a business with employees

In the UK, employer’s liability insurance is compulsory, and employers are obliged to act in accordance with the Employer’s Liability (Compulsory Insurance) Act of 1969.

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