Liability insurance 

A form of risk financing, protects the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.

Types of Liability insurance

  • Public liability - Public liability insurance protects you from legal and medical costs that arise from an incident on your property, even if you are not to blame.  Public liability has become increasingly popular as liability lawsuits are being filed every year. For this reason, public liability insurance has become one of the most important insurance policies a business has.
  • Product liability - Product liability insurance protects the business from claims related to the manufacture or sale of products, food, medicines or other goods to the public. It covers the manufacturer's or seller's liability for losses or injuries to a buyer, user or bystander caused by a defect or malfunction of the product, and, in some instances, a defective design or a failure to warn. 
  • Employers Liability - Insurance covers your small business if an employee is injured or falls ill at work. Employers Liability Insurance will meet the cost of compensation for injuries sustained to your employees (or illnesses), whether caused on or off site. It should be noted that this type of insurance only covers your employees.