Public Liability Insurance
What is public liability insurance?
The public liability insurance policy provides the policyholder with protection against claims made agianst them in respect of their legal liability for personal injury or property damage sustained by third parties arising during the course of policyholder’s business.
What is the limit of indemnity under a public liability policy?
The limit of indemnity is the maximum amount that the insurance company will pay in respect of any one claim under the policy. For most public liability policies this applies to each and every claim with there being no maximum as to how much may be paid in respect of a series of claims.
The limit you require under your policy is for you to decide based upon your own understanding of the risks you face in business and the type of work you are enegaged in. it is also very common for main contractors and employers to require you to hold a certain limit under your policy and this may be a determining factor in the limits you choose.
Limits of indemnity of £1M, £2M, £5m and £10M are common under public liability policies but other limits are available to you.
What is the excess under a public liability insurance policy?
The policy excess is the amount that the policyholder is required to pay in respect of their contribution to a claim. Under a public liability insurance policy it is common for their to be an excess in respect of claims arising from third party property damage but no excess in respect of claims in respect of personal injury.
How much does public liability insurance cost?
The cost of your public liability insurance is based on a number of factors that help the insurance company decide the level of premium required. These are the type of work you undertake, where you work, how much work you undertake and whether you have any previous experience or any claims made against you in the past.
How do I apply for public liability insurance in Gibraltar?
You can apply on-line using the form below, call us on 200 77076 or call in to discuss your requirements with us at 92 Irish Town.