Insurance for the Businessman - Mishaps to the public

Public liability insurance is complementary t0, and just as essential as, the employer's liability insurance described above. There are innumerable ways in which someone can claim against you. For example, a customer may injure herself slipping on the floor of your shop; someone may develop food poisoning from food you have sold them ; a client may trip over electrical wires in your waiting room; chemicals or pills may be wrongly labelled; in all these cases, you would be liable to pay compensation.

Most insurers limit their indemnity for any one accident to an amount agreed by you when you buy your insurance - this can vary between £49,000 and £490,000. Although you may feel that you are unlikely to have to meet a claim as high as this, you should insure for at least &:,0,000. If a fire, for example, were to kill people on your premises, you could be liable for compensation of at least this amount. Avoid buying a policy which does not indemnify you for fire damage and injury, or which excludes cover for illness, accident or damage arising from products which you use or manufacture:

Most policies exclude damage in connection with vehicles, aircraft or passenger lifts, faulty designs, steam pressure vessels, radioactive contamination, war, etc., and you cannot usually claim for the cost of repairing or replacing defective products. Special policies may cover some of these.

If you have a branch of your business overseas, check that your policy covers you for this, and if you import products from abroad, you should be covered for any damage they can cause. Check also that you can claim for the extra expenses and legal costs which you could incur before a claim was settled.


Mishaps to the public

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

Salon Gold Insurance

Cheaper Insurance for Salons, Freelance Hair and Beauty, and Mobile Businesses - click here

read on: Insurance for the Businessman -Goods in transit

Public liability insurance is complementary t0, and just as essential as, the employer's liability insurance described above. There are innumerable ways in which someone can claim against you. For example, a customer may injure herself slipping on the floor of your shop; someone may develop food poisoning from food you have sold them ; a client may trip over electrical wires in your waiting room; chemicals or pills may be wrongly labelled; in all these cases, you would be liable to pay compensation.

Most insurers limit their indemnity for any one accident to an amount agreed by you when... see: Insurance for the Businessman -Goods in transit