Cover for Work Done and Products Supplied
Public and products liability insurance protects you in the case that you are legally liable to pay compensation to a third party that has sustained personal, business or property damage as a result of your business services and/or activities.
Public liability insurance covers you for any damage caused while the work is being carried out, whereas products liability insurance is for what happens after the work has been completed and/or handed over.
Case Study:
Injury Compensation
The offshore manufacturer of George’s sunscreen accidentally
contaminates the product with chemicals that cause customers to break
out in a painful rash.
They file a class suit against George to compensate them for the injury.
Luckily, George’s policy covers him for the costs of going to court and the
damages awarded to the customers.