Liability

UK Insurers paid out £2.6 billion in Liability claims last year or around £10M for every working day

Liability insurance provides protection for businesses against claims arising out of injury or damage caused to employees or third parties and to 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