What could happen to me if I don't have Public Liability insurance?

Whenever a compensation claim is brought against your business, you can be impacted in two key ways.

Firstly, there is the financial damage that may arise from claims as well as associated legal expenses.

Secondly, there is a threat against your reputation. The cost of financial damages can quickly mount up but loss of your reputation in your industry can be irreversible and impossible to calculate, with the loss of future lost clients and profits.

The rapid growth of the compensation culture in the last few years has led to this being a sizeable threat to businesses.

Regardless of the business or sector you operate in, if you have any contact with the public at all you need to ensure you have sufficient protection.

For the sake of a monthly premium, it will provide you with peace of mind and safe-guard your business needs from potential financial risks
Imagine the worst case scenario – an unforeseen incident occurs and a claim is brought against your business.

If you are uninsured, your business will be liable for hefty Solicitor’s fees and also Court and Barrister’s fees if the case goes to court. If the Judge rules against you, your final bill will also include the compensation amount you are ordered to pay to the claimant, any medical costs they have paid out in cases or accidents or illnesses, plus their legal fees on top of your own.

With Public Liability insurance in place, your insurer and its legal team will deal with the case on your behalf. All of the legal costs incurred in fighting your case will be covered for you by your Insurer. If you lose the case, the claimant’s compensation and legal fees will also be paid for you under your policy cover.

Those who do not have Public Liability insurance may be lucky and get away with it, but on the flip side of the coin – they may not.

None of us can predict the future, so it is strongly recommended to err or the side of caution and avoid regret.