Cambridge Insurance Broker Wayne Cooney’s Commercial Cover Advice
Disclaimer: This is just a ‘General Guide only’ and must not be deemed to be ‘Financial Advice’ in any form. Please Contact your Insurance Adviser for any appropriate financial advice accordingly.
What is Commercial Liability Cover?
If an incident occurs that relates to your company, Commercial Liability Cover can look after you. However, there are different types of Commercial Liability coverage.
Public Liability Insurance
Public Liability Insurance covers claims made by the public who have been affected by your product, services or issues relating to your company’s day-to-day activities. Generally, this covers costs for compensation payments for third-party injuries, repair/replacement costs for damaged property, medical treatment/ambulance, and legal expenses.
Product Liability Insurance
Product liability insurance protects against claims of injury caused by products from your company. This is an essential cover to have if you supply products to the public. It generally covers you for copyright infringement or defamation cases, and damage to property within the business space, employees and customers. Also, damage caused by software supplied by you, injury caused by equipment you supply, illness caused by items consumed that your company supplies and it can cover product that is exported overseas.
Statutory Liability Insurance
Statutory liability insurance protects all workers/owners/trustees etc, connected to your company from certain breaches of New Zealand Law. It provides you with legal assistance if required. It does not cover Health & Safety at Work Act fines (except for the reparations), employee contract claims, police prosecutions, IRD proceedings, criminal allegations or liability arising from deliberate acts of a damaging nature.
Employers’ Liability Insurance
This cover protects employers against claims made by their employees who have had an incident at work that they can’t get ACC cover for. It covers the costs associated with injury claims and defence of them. There is a range of personal claims that can occur, from stress-induced injury, mental health, and environmental damage ie damage from an unsafe work air space.
Professional Indemnity Insurance
Professional Indemnity Insurance helps companies that supply advice and specifications. The claims will be based on the fact that the advice given was unsatisfactory. This covers the compensation cost of the claim and defence costs.
My job as a Go-To-Adviser is to make sure My Clients are all well informed. You will receive appropriate Insurance Cover information during our discussions and in all relevant quotes, schedules and policy wordings provided to you, accordingly.
Contact Wayne Cooney
021 347 640
Contact Phillip Quay
027 458 7724