Editing Why Your Company Needs Public Liability Insurance

As any good employer knows, public liability insurance is a must for any company. No matter how well-run your company, accidents happen, and when they do they can be very costly if you don't have the necessary cover.

We understand that even the smallest mistake can lead to an accident and an expensive claim. Regardless of whether you're a small business or a large corporation, the costs involved in a claim could cripple you. Many small companies shut down to pay liability claims. Even large corporations are at risk and can end up paying millions to individuals who successfully sue them.

One famous example is the Hot Coffee case. A woman successfully sued McDonald's for almost R 33 million when she suffered burns after spilling her coffee from the restaurant in her lap.

If you're not in a position to provide full compensation, you may find you're paying out more than just money. Bad PR from an unpaid claim could affect future business. Without the correct cover, a simple workplace error could cost your company everything.

Our [http://www.cig.co.za/articles/car-insurance/why-your-company-needs-public-liability-insurance public liability insurance] covers you for the following damages:

    accidental death of any persons
    bodily injury to any persons
    illness of any persons
    accidental loss of tangible property
    physical damage to tangible property

We also offer several different policy extensions which enable you to customise your cover. These extensions include:

Product liability: This extension covers amounts that you become liable to pay because of damages, or injuries caused by goods or products sold or supplied by your company.

Defective workmanship: This extension covers amounts that you become liable to pay due to damages or injuries caused to a third party by something you worked on, and where the damage was caused by a defect, error or omission made during such work.

Work away: This extends your cover to other premises while you are conducting work related activities there.

Other extensions which might be ideal for your business include defective design, product recall and product guarantee.

If you're in need of public liability insurance and would like to find out more about how comprehensive our cover is, why not speak to one of our brokers on 031 242 6800, or visit our website at www.cig.co.za