What is Liability Insurance?
Liability Insurance financially safeguards businesses should an employee or member of the public be involved in an incident that causes injury, death, illness and damage to any property or belongings.
Public liability is a type of insurance that provides cover for legal liability where a third party or a member of the public is injured, or their property is damaged. Public liability claims can arise from several circumstances, but negligence is the main trigger. For example, a customer might trip on an uneven surface at your premises, or a member of the public could injure themselves on a piece of your equipment. It may also cover claims for property damage arising from negligence.
Employers’ liability insurance covers a business where the business is legally liable for the costs of compensation and legal expenses, where an employee suffers an injury or a disease arising out of and during their employment. For example, suppose an employee is injured due to a faulty machine during work. The Employer may be held liable to compensate the Employee and avail of their Employers Liability Insurance.
How Does Liability Insurance Work
Public Liability Insurance: Public liability insurance policies generally cover claims made against a business or a person by a third party for compensation for accidental loss, damage and injury, and related costs and expenses. It is typically taken out by businesses to cover the business where members of the public take proceedings and recover damages in consequence of accidents arising in the course of business.
Employers’ Liability Insurance: In the Republic of Ireland, employers’ liability insurance is not compulsory. However, employers have a common law duty of care to their employees to provide a safe place of work, safe systems of work, adequate training, and supervision. Employers’ liability insurance will enable an employer to meet the costs of compensation for employees if they are injured or become ill as a result of and in the course of their employment.
Campion Insurance - What We Can Offer:
We’ll search across Ireland to find you the most cost-effective and comprehensive cover.
Commercial Insurance Expertise
Our dedicated advisors have the industry knowledge and expertise to provide you with the advice you and your business need.
Flexible Payment Option
Flexible and affordable plans to suit your budget.
Liability Insurance FAQs
No, professional indemnity insurance is not a legal requirement for all businesses. It is mainly needed for certain types of business and professions, i.e., those professions that advise customers/clients. However, for many professions, such as chartered accountants and surveyors, architects and financial advisors, it’s a mandatory requirement of their regulatory or professional body. Without PI insurance, such professions cannot operate.
Professional indemnity insurance cover claims made by clients or customers for professional negligence or mistakes, whereas public liability insurance covers claims made by members of the public for injury or damage.
A claims-made policy will pay out for any valid claim made during the policy period – typically 12 months, regardless of when the incident or alleged breach of duty actually occurred. For example, this would be the norm for professional indemnity policies.
On the other hand, a claims-occurring policy means it will only pay out for claims that arise out of loss or damage that actually happens during the (typically 12-month) policy period.
Why Choose Campion for Public & Employers’ Liability Insurance?
35+ years experience
11 offices throughout the country
Winner of the Deloitte Best Managed Companies for over 10 years
High customer retention rates
At Campion Insurance, we believe that business is about people. That is why our customers are at the core of everything we do. We understand that running a business can be time-consuming and stressful at times. By providing you with the best possible quotes available on the market for your public and employers’ liability insurance, you’ll have one less thing to think about.
Our tailored approach means that you will not only get the most suitable prices but also the proper policy cover to suit your professional needs. Our team of dedicated brokers are at the ready to provide you with support and expert guidance including running through different benefits, types of cover, financial queries and more.Request a Call Back
Our team is ready to offer advice including a full explanation of the different companies policies providing both Public and Employers’ Insurance for the construction industry.