Liability insurance: Your shield against unexpected claims

Running a business involves its fair share of risks. The right liability insurance can help protect your business, whether you’re a large company or sole trader, from a wide range of costly and unforeseen risks.

Rothbury offers a variety of comprehensive liability insurance solutions. If you need a second opinion on what risks your business may be dealing with, please contact a local insurance expert like the Rothbury Insurance Brokers North Shore team.  

Examples where liability insurance can help protect you:

  • Public liability insurance: Employees, or the products you sell or manufacture have accidentally caused harm to someone else or their property. The third party could take legal action against the business to cover the cost of the damages. Repair or replacement costs for the damaged property and legal defence fees can be covered under public liability insurance.
  • Statutory liability insurance: An employee of a construction business is operating a forklift onsite when they crash and injure themselves and a colleague. The employee did not have proper training to operate the forklift and the business could be held liable for the injuries of the people involved in the incident and any other damages under the Health and Safety at Work Act 2015. Legal and defence costs can be covered under statutory liability insurance.

What are the benefits of liability insurance? 

Liability insurance can help reduce the financial impact following a liability insurance claim. Depending on your policy, it can cover:

  • costs to investigate and defend allegations
  • legal defence fees
  • repair or replacement costs for damaged property or possessions
  • reimbursement of financial loss caused by employee dishonesty or fraudulent acts
  • legal and settlement costs arising from a wrongful act claim against the business
  • compensation payments for injuries or damage caused by your products or services.

In some cases, liability insurance is not just a good idea, but a requirement. It is usually mandatory to have at least public liability insurance before entering into contracts or visiting worksites.

Have you considered management liability insurance?

Management liability is an all-in-one insurance solution, which combines multiple liability solutions into one comprehensive policy. It can help ensure you are protected against a variety of risks that may arise from both the day-to-day management and operation of your company. A management liability insurance solution may include:

  • cyber liability
  • directors and officers' iability
  • professional indemnity
  • public liability
  • statutory liability

Quality advice from locals 

It’s important that your business has the right insurance cover in place. The Rothbury North Shore team is committed to providing personal service and quality advice and has 10 dedicated insurance brokers based right here on Auburn Street in Takapuna.  

With local knowledge and insurance expertise, they can tailor an insurance policy to enhance your financial resilience and give your business the best chance to thrive.

If you have any concerns about your current insurance, or want a second opinion about your insurance, contact your local Rothbury North Shore team today.   

Phone: 09 914 9800 

Address: Level 1, 7 Auburn Street, Takapuna