Liability Events Insurance Is A Good Way To Protect Yourself When Organising Events

1st July 2010

Your liability events insurance will help against any claims where a

client or other person suffers loss, physically or financially, as a

result of alleged errors or omissions on your part. If your business

activities have caused an injury to a member of the public or damage to

their property in some way, then this insurance would cover you for any

expenses incurred by you. This could be when they visit you, or when you

are doing some work at their premises like for example construction

sites etc. In most cases, a dispute has a simple rule, which is that the

loser will have to pay the winner’s costs.

• As part of your liability events insurance package you can also

include other insurances to your policy like product liability

insurance. Any business, making or selling products should consider

taking this as essential cover, as this would protect against damages

awarded as a result of damage to property or personal injury caused by

the product.

• Even if you are not making a product, if you are proved of negligence

in storing, selling or quality checking an item that causes an accident,

then your company or business could be held accountable. And if you

have employees working for you. You must have employers’ liability

insurance in place. If you are working at a property you may be held

responsible for things like a customer might slip on a wet shop floor or

trip over an extension lead or debris. With this cover, you will be

able to pay for the claims made by members of the public who have been

injured or their property has been damaged in connection with your

business.

• The cost or premium for the liability events insurance is the price

that you have to pay to the insurer to accept your business. A number of

factors are considered while charging premiums, such as the nature of

your business as well as the insurer's own experience of your business

sector.

• It’s always a good idea to keep good working relationship with your

insurer, as he or she will be able to help you through each and every

step of the case. Your insurer will also adjust the resulting premium to

reflect positive features like the good claims record or good risk

management, or negative features which involves the poor claims record.

• Your insurer will often provide advice and a legal helpline, if you

need it at any point. He or she will also pay for any fees for

barristers, solicitors, accountants and expert witnesses, as well as

court costs and opponents' costs if you are ordered to pay them in a

civil court.

A liability events insurance cover becomes quite essential, especially

if your business comes into regular contact with members of the public

or clients. This is due to the fact, that if someone gets hurt or their

property gets damaged, then you as an individual, your company or your

business will be held responsible and may get sued as well, which can be

really costly for you and your business.