Public and Product Liability Insurance

As a professional in the Sign industry, Liability Insurance is something that you cannot do without. Whether you manufacture only or manufacture and install it is an essential part of your cover.
Remember liability exposure is not just restricted to installations you carry out away from your business premises either, accidents happen in your business premises too.

Whether it be a client who visits your office and trips over a power chord or a supplier who falls down your entrance stairs as a result of a broken step, these are all liability claims.

Cover explained:

Public Liability
Public Liability is probably the most well known and understood and Public Liability insurance for a Sign Business is generally quite straight forward. It covers you for loss, damage or injury caused to a third party due to your negligence (it has to be proven though first).

So, a quick example;

A client visits your office, it’s raining and you have forgotten to mop the reception floor. Whilst it’s probably common sense to walk around any puddles, the fact is that people don’t, and you have a duty of care. So whilst it may be common sense, you have to be one step ahead, and if you aren’t and an injury or loss does occur someone will be pursuing you for compensation.

Product Liability
Product Liability usually follows Public Liability Insurance, and instead of an individual being negligent and causing loss, damage or injury to a Third Party, the loss is caused by your product failure.

Public & Product Liability – Indemnity Limits

Public Liability
Indemnity limits can vary depending upon the insurer and the cover you require however for the Sign Industry the limit tends to be £2,000,000 or £5,000,000. It covers you up to the limit of indemnity selected, in respect of any one claim.

The Signelite policy provides £5,000,000 as standard and where you work for employers requiring £10million Public Liability insurance (which tend to be local Authorities and large corporate’s) we can increase the indemnity limit for specific contracts that you have.

Where this is an annual requirement we can arrange the increase either with the main liability insurer or with an “excess loss” insurer.

Products Liability
The indemnity limit will generally follow the Public Liability indemnity limit selected.

It covers you up to the limit of indemnity in the aggregate in any one period of insurance.

Employers Liability Insurance

This protects you against the cost of compensation claims arising from employee illness or injury which are sustained as a result of their work for you. It is a legal requirement if your business employs one or more people.

The Employers’ Liability (Compulsory Insurance) Act 1969 ensures that you have at least a minimum level of insurance cover against any such claims. Employers’ liability insurance will enable you to meet the cost of compensation for your employees’ injuries or illness whether they are caused on or off site.

Limit of Indemnity
You must be insured for a minimum of £5,000,000 however you will find a lot of policies now provide £10,000,000 as standard.

The Signelite Commercial Combined policy covers £10,000,000

What’s Covered?

Any Info?

– £10,000,0000 Employers Liability
– £5,000,000 Public Liability
– £5,000,000 Products Liability

Where you work for employers requiring £10million Public Liability insurance (Local Authorities and large corporate’s are typical examples) we can increase the indemnity limit for specific contracts that you have.

Where this is an annual requirement we can arrange the increase either with the main liability insurer or with an “excess loss” insurer.

What is products liability?

Product Liability

Covers you up to the limit of indemnity in the aggregate in any one period of insurance.

Standard cover is £2,000.000, you can increase this to £5,000.000 or more.