Public Liability Insurance is designed to protect you and your business from legal and / or medical costs that arise from an incident connected to your activities.
It protects you against the financial risk of being found liable to a third party for death or injury, loss or damage to property or “pure economic” loss resulting from your negligence. Liability Insurance is essential to every business owner.
Public Liability coverage can have up to 3 different sections:
You will generally find that you are covered in all areas as part of a standard Public Liability policy.
If your business is not deemed to be a safe environment caused by deliberate neglect then your policy may become void.
In this instance, you are personally liable for the financial burden of the liability claim.
Often an excess such as $500 or $1,000 will be in place. This excess is not covered by the insurance policy.
Professional Indemnity insurance is designed to cover you in the event of a claim made against you because of professional negligence caused by mistakes, bad advice or poor workmanship.
It provides indemnity cover if a person suffers a loss - either material, financial or physical - directly attributed to negligent acts.
Example 1 - a sporting participant sustains a knee injury after tripping in a pothole on a sports field whilst participating in a game. He sues the club for failing to provide a duty of care to the participants and their playing conditions.
Example 2 - a club member is having a drink in the club house and the bar stool he is sitting on collapses from underneath him. He suffers personal injury and sues the club for negligence.
Each State and Territory Association Directly affiliated to Hockey Australia and their affiliations, Associations and Clubs, Including most individuals
Negligence is doing something without a reasonable amount of care, or failing to do something which might reasonably have been done to prevent the incident.
A Public Liability policy protects you anywhere in Australia, and in most countries overseas. But you will need to confirm this within your own policy wording.
As soon as an incident occurs that could result in a potential claim, contact Honan and we can provide assistance with the claims process.