“Roughly ¬£10bn is paid out in UK compensation claims every year”

The Institute of Actuaries

Liability insurance provides protection for businesses against claims arising out of injury or damage caused to other persons or their property. With the volume of compensation claims annually in the UK, it is essential that companies protect themselves adequately against potential losses from:

  • Employees
  • Members of the public
  • As a result of products¬†manufactured or services provided
  • Other financial losses

Year on year, liability insurance claims produce some of the largest losses for UK insurers. It is essential that businesses protect themselves by holding hold the correct levels of indemnity. You also need to be certain that your business activities and trade processes are fully understand by the insurers providing your cover.

Key considerations

  • Indemnity levels
  • Declared business activities
  • Trading territories
  • Control of claims
  • Health and safety systems
  • Risk assessments
  • Risk management