Business Insurance
You can insure your business in various ways:
Public Liability
This Policy provides indemnity in respect of the insured’s liability at law to pay damages and claimants cost and expenses) to members of the public (other than employees) as a result of:
- Accidental bodily injury including death and illness
- Accidental loss of or damage to property arising in connection with the Insured’s business except property in the insured’s care, custody or control
The policy will also cover the costs of defending any suit brought against the insured (defence costs), in addition to any award that may be made against the insured by a court of law.
Professional Indemnity
This policy covers professionals against negligence whilst carrying out their duties.
The policy will provide for the costs of defending any action brought against the insured in their professional capacity.
The scope of this insurance cover:
- Court judgments/awards
- Defence costs
- Fees and expenses
- Loss of documents
Professionals who can be covered include:-
- Auditors/Accountants/Tax Advisors/Actuaries
- Lawyers
- Engineers
- Trustees
- Quantity Surveyors/Land Surveyors
- Valuer’s/Property Consultants
- Architects
- Medical (general practitioners, nurses, dentists, physiotherapists)
Employers Liability
Provides cover against legal liability under common law for damages and claimants costs and expenses of litigation in respect of bodily injury by accident or disease to employees through any perceived negligence on the employer’s part arising out of and in the course of their employment directly related to breach of common law or statutory duty.
The policy also reimburses the insured the expenses they may incur in the course of defending any such action/lawsuit.
Cover is usually arranged on the basis of the employee’s earnings.
The Employee can still sue the employer under common law still after being compensated under Group personal accident policies or WIBA.
