Public Liability, Product Liability and Employer’s Liability Insurance in Ireland
Every business in Ireland requires adequate insurance cover in respect of your employees, your customers, visitors to your premises or place of work and members of the public at large. Here at AOR Insurances (Cavan) Ltd, our liability experts can provide you with insurance cover that protects both your customers and your business.
What is Public Liability Insurance?
Public liability insures you in the event that you are litigated against (sued) by a member of the public who dies, is injured or harmed in any way while on your premises, or if their property is damaged on your premises as a result of your actions.
It protects your business against all claims and litigation.
How much protection will public liability insurance provide?
The limit of indemnity cover starts at €1.3 million, but can differ from business to business and depends on the policy options that you choose.
What is Products Liability Insurance?
Products liability insurance covers your business against any claims made by a person who dies, is harmed or injured as a result of using your product, whether you were the maker of the product or if you simply sold the product to them.
The limit of cover starts at €1.3 million and increases based upon your business’s specific requirements.
What is Employers Liability Insurance?
Employer’s liability covers you against damages, expenses and costs from any legal claims made by employees against you as a result of being injured, hurt or if they die whilst in the course of your employment.
The limit of indemnity is usually €13 million but this cover can be tailored to suit your needs.
Types of Trades and Professions that need Liability Insurance
• Building Contractors & Handymen
• Roofing Contractors
• Painters & Decorators – both Domestic and Commercial
• Carpentry and Joinery Contractor
• Heating and Plumbing Contractors
• Kerbing and Paving Contractors, including Concrete works
• Fabrication contractors
• Windows and Doors – window cleaners, sign writers, door manufacturers, glass installers
Cover is available as both a standalone policy or as part of an all risks policy.
Contact us for a no obligation quotation and let us review your existing insurance cover – we can offer a valuable second opinion and review of your existing cover and see where we can help make improvements or get you a better deal!
More Information on Liability Insurance
Liability insurance is essentially insurance that protects you in case you are held liable for incompetence, negligence, injuries to people on your premises (public liability) or loss or injury to others as a result of using your product (product liability).
As such, it is essential to look into if you are someone who might be held responsible for the harm that might befall someone else. In this category fall people such as business owners, product owners and some trades, professionals and consultants.
We will now take a look at liability insurance in more detail, discuss the types of it, and how best to use it.
Types of Liability Insurance
There are many different types of liability insurance and which one is right for you depends on who or what you work with and what you need. For example, if you are a driver then you need automobile liability insurance and not much else, but if you are a company owner then you may need to get employers liability insurance, products insurance, public liability cover etc.
Let us now take a look at the different types of liability insurance and just for what they provide cover.
- Employers’ liability insurance provides cover for you in case you become legally liable to your employees for any harm that may have come to them while they were employed by you. This is legally required if you have one employee or more.
- Public liability insurance provides cover for you in case you become legally liable to a member of the public for harm that may have come to them in an accident involving you or your business. It is closely related to hospitality insurance and many hospitality businesses should get some type of public liability insurance.
- Products liability insurance provides cover for you in case you become legally liable to a member of the public (or any other third party) for harm that may have come to them because of a product you or your company manufactures.
- Bodily Injury Liability Insurance provides cover for you in case you become legally liable to someone for physical injury(s).
- Property Damage Liability Insurance provides cover for you in case you become legally liable to someone for damage caused to their property.
- Driver Liability Insurance provides cover for a driver in case they become legally liable for harm caused to a member of the public or damage to their property.
- Contractors’ all risks (CAR) insurance is a non-standard insurance which provides cover for you in case you become legally liable to the injury of any third party or property damage related to improper construction, work at a construction site etc.
- Sole trader insurance provides cover for exclusive owners of businesses, providing cover for them in case of public liability and professional indemnity.
- Personal accident insurance provides compensation in case of injury, disability, or death caused by outside, visible, violent events.
- Directors and officers liability insurance provides cover for directors and officers of a company or the organization itself in case they become legally liable to a third party for alleged wrongful acts in their capacity as directors and officers.
Things You Should Know About Using Liability Insurance
If you should find yourself in any of these unfortunate situations, then consider filing an insurance claim to your insurance company of choice and if they approve it, depending on their insurance policy, you will be issued payment. Also, keep in mind that insurers have an indemnity limit which is the highest amount of money they will pay you for any one claim.
Insurance companies will typically have emergency numbers that you can use to file claims anytime during regular business hours.
If you are an owner of a company, a product manufacturer or a medical professional, liability insurance is an important safety net which can blunt the blow of many claims and misfortunes which might befall you.
None of us are perfect, and we all make mistakes. If you do not want one of your mistakes to cost you a fortune, consider investing in liability insurance. When crisis comes, which may or may not happen, it is likely that you will not regret it.
We have listed many different types of liability insurance. The important part is that you choose the one you think you need most. Usually, for people with a lot of responsibility, more than one type is necessary. Choose well, and have no fear of unfortunate accidents.