PUBLIC & PRODUCTS LIABILITY INSURANCE
Covers you and your business from any claim brought by a third party against you in relation to property damage or personal injury inflicted as a result of your actions.
Public Liability Insurance is an essential product for any Australian business provider. It protects you and your business from any claim brought by a third party against you in relation to property damage or personal injury inflicted as a result of your actions.
Jim’s Insurance handles all the public liability policies for the 40 plus divisions of the Jim’s Group so we are familiar with a large variety of businesses. We have many clients who range from the local Jim’s Mowing franchisee all the way up to multimillion dollar construction companies.
You can choose your cover from $5 million, $10 million, $15 million and up to a maximum of $20 million. Remember that the cheapest is not necessarily the best – you need to select the one that provides you with the best cover. Our services can help you select the right cover for your business, no matter which industry you’re in or how large or small your company is.
In order for us to quote you, we need the quote request form completed to provide us with enough information to quote you competitively and accurately. We will then email you a comprehensive quote with the applicable policy wording. However, if you prefer to discuss your requirements first please don’t hesitate to contact us on 1300 546 000 or email us at firstname.lastname@example.org
Public liability comes under civil law with the harassment to the general public. Public liability insurance comes into play whenever any construction or related projectcause damage or harm the public in the surrounding. This is obviously comes with social responsibility of the developer to undertake work with minimum negative impacts to the community in the surrounding. The developer has a responsibility of public care, so public liability insurance plays vital role in every development activity. Public liability insurance covers any legal fees, damage costs, health and safety costs of liable person or persons due to direct impact of related development activity.
Public liability insurance is one of the risk financing methods to protect the insurer on external involvement coming from surrounding activities to delay or obstruct the current development work. Public liability insurance is a kind of third party protection scheme from any unforseen damages or losses caused by the specifieddeveloper or development activity. This is a critical case where intentional damages caused by the surrounding activities or contractual liability claims are not covered under this. So in a way, public liability insurance policy provides protection to the insurer or developer on external forces affecting the intended project work. The insurance party has to defend the insurer in such cases and usually the legal costs or defence costs are covered by the public liability insurance policy.
Public liability insurance companies have three main duties to perform in terms of insurers:
Represent client as an unbiased party
Defending the insurer
Settle into a reasonable claim
In Australia, public liability insurance tends to be a mandatory requirement as the consideration of third party involvement to the development activity is marginal. Even some external parties can support the development activity by providing necessary services to smooth running of the works and also the damages such as noise, dust, mental stress can create considerable damage to the surrounding environments. Therefore to aid such people, public liability insurance plays a vital role in most cases.
Professional indemnity insurance is another form of public liability insurance where it protects the professionals from insulting or breaking of agreement and such litigations. In such situations, public liability insurance represents the insurer and negotiates for a reasonable settlement to continue the development work without any obstruction. Even this is applicable to small businesses as well as large firms. So before commencing any development work, the third party involvement and impacts should be carefully monitored and evaluated by the developer. Also he or she must carefully select the proper public liability insurance policy that allows the minimum negative impacts to the insurer. Otherwise, failure of any one or both cases mentioned above may lead to even bankruptcy of a company too. Also when there’s any third party complaint arises, it should be filed upon the company name or development name which has been obtained the insurance policy. Then insurance agent will represent the company on behalf of the developer.
Choosing a public liability insurance policy is an important decision for any business owner, as the penalties of having the wrong policy in the event of a big claim can be very serious. One should choose a public liability insurance policy which is going to meet all of his or her business needs, and one of the best ways to do this is to use the services of an insurance broker who can analyse the business needs and recommend a suitable policy.