Public & Product Liability insurance should be held by any sole trader, partnership or company that has a potential exposure to property damage or personal injury.
For many businesses this cover is mandatory and will be required to show evidence of cover before you begin operation, obtain a lease or visit a client site.
Public Liability Insurance provides cover to an individual or company for personal injury and/or property damage caused to third parties as a result of an occurrence arising out of their business operations.
Products Liability provides cover for damage caused from anything manufactured, grown, extracted, produced, processed, constructed, erected, assembled, relabelled, installed, repaired, serviced, treated, sold, supplied or distributed, after it has ceased to be in the possession or under the control of your company. If you import products into Australia, it is very important that you insure for products liability insurance as, under the Trade Practices Act, importers are deemed to be manufacturers of the products that they introduce to the Australian market. This means your business is responsible under law for any products imported by you as though you had manufactured the product yourself.