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Liability Brokers In Australia
There are many different kinds of insurance. Some types of insurance are legally required, while others are not; but they are extremely handy to have. Liability brokers in Australia offer a wide variety of insurance for those who need it, from IT insurance which covers many aspects of the IT industry to public liability insurance.
Public liability insurance is not legally required, but is necessary for those who have any dealings with the public. It insures you against third party injury or damage caused by you. For instance, if someone tripped over some tools you left out and broke their leg, then they could sue you for breaching your duty of care obligations. But if you have public liability insurance you won’t have to worry because you would be covered.
Similarly if you were to drop a tool from a great height and it landed on someone’s car, your public liability insurance would cover the cost of replacement.
Professional indemnity insurance applies to any who can be considered professionals in their field. If – as in most cases – their clients are not professionals in that field and suffer loss due to a breach of conduct then they can sue for their loss. Professional indemnity insurance must restore the client to the position he or she was in before the event. There is no question of profit or loss.
Once, professional indemnity insurance was only for specific professionals such as doctors, accountants, solicitors and engineers, but it has changed now to include many other professionals. In most cases the professional must pay a certain specified amount called the deductible or excess. They also have what is called a ‘limit of indemnity’ which is the highest amount that the insurer will pay. For more details visit our website www.liability.com.au
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About the Author
Alex Miller is an Insurance Broker with an experience of 5 years in the field. www.liability.com.au
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