The government’s new guideline settlements for Public Liability claims has major implications for media & digital organisations:
With liability for staff, volunteers, visiting clients and the public, Public and Employers’ Liability Insurance are key cornerstones of your organisation’s financial protection. If you’re under-insured, you have no protection against colossal sums being awarded against you. The average public liability limit of £2M is unlikely to be adequate following these changes, so it’s vital that you review the limits you currently have in place.
Public and Products Liability Insurance helps protect media & digital organisations when a third party alleges that your business activities or products have caused them injury or damaged their property. This can have a serious financial impact in terms of legal costs and damages, so getting the right cover is important.
Cover typically includes:
HOW DO THE RATE CHANGES AFFECT ME?
If a member of the public successfully claims against your organisation, you will now find yourself facing vastly increased damages costs.
An SME was taken to court and found to be negligent in a public liability claim. Whereas the original settlement amount would have been £8m, under the new guidelines this increased to £15m. The SME had a £10m limit on their policy, and the resulting shortfall is likely to bankrupt them.
If you’d like any further advice, or to check you have adequate levels of cover in place, just email firstname.lastname@example.org and we’ll get to work for you.
Advice you can trust from an expert who understands you: