Broadform Liability, which is sometimes simply called Public Liability or General Liability has become a staple insurance cover for anyone wanting to do business with reputable companies. However, good advice around this can mean the difference between having a watertight policy and having an uncovered claim.

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In its most basic form, Broadform Liability covers claims brought against you alleging you have caused Personal Injury, Property Damage (and often Advertising Injury) to some third party. 

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With the right advice, many Broadform Liability policies can be tailored to address a number of additional exposures including the below:

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• Errors & Omissions – this type of cover protects your business where you have not caused actual injury or damage but your business has still managed to cause someone Financial Loss. For example, if a product wasn’t built to specification because plans were incorrectly interpreted and the job then had to be redone, and you were called upon to compensate for this loss.
   

• Product Recall – when a product you sell has some kind of harmful defect which has, or is likely to cause injury to a third party and it needs to be withdrawn from the market, the costs involved in recalling the product can be substantial. 
   

• Contractual Liability – As mentioned above, an insurance policy will cover your Liability for injury or damage arising out of your business. However, many businesses will often enter into a contract which sees them not only accept responsibility for their own actions, but unwittingly take on the Liability of other parties. As a starting point, most insurers will exclude this but if this is likely to happen in your business, we can make sure you’re properly covered.
   

• Statutory Liability – the types of Liability mentioned above address those which apply to you in tort or ‘Common Law’. However, in today’s world of increased regulatory supervision there is also the potential for the business to receive fines and penalties for breaching one of the seemingly endless government regulations. 
   

A General Liability policy can also be tailored to suit the needs of a specific business or contract so Contact us today to see how we can make your Liability Insurance work for you. 

 

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