PUBLIC LIABILITY INSURANCE

SCOPE OF COVER:

A general public liability protects the insured in respect of his legal liability to Third parties for both bodily injury, death and for any loss or damage to property.

Underwriting:

This policy is usually tailored towards the needs of the insured and before the policy can operate a claim must be established under well-defined areas of liabilities such as Negligence, Trespass, Nuisance, strict liability and under contract.

RATE:

It is usually done based on experience and a flat premium but a rate ranging between 0.1% – 0.5% of the limit, any one event is okay. Since the Annual liability is unlimited.

PRODUCT LIABILITY:

This is often treated as an extension to public liability but could be issued on its own and in such basis; the premium is based on the Estimated Annual Turnover and the rate ranges from 0.05% to 0.5%.

It covers the insured legal liability for bodily injury or loss/damage to property caused by the insured’s products or goods.