{"id":4420,"date":"2022-08-29T08:54:14","date_gmt":"2022-08-29T01:54:14","guid":{"rendered":"http:\/\/ligaasuransi.com\/?p=4420"},"modified":"2024-08-09T13:59:34","modified_gmt":"2024-08-09T06:59:34","slug":"kenapa-public-liability-insurance-semakin-dibutuhkan","status":"publish","type":"post","link":"http:\/\/ligaasuransi.com\/en\/kenapa-public-liability-insurance-semakin-dibutuhkan\/","title":{"rendered":"Why Public Liability Insurance is Important for Your Business?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"http:\/\/ligaasuransi.com\">Liga Asuransi<\/a> &#8211; Dear readers, how are you? May your business be more advanced and successful.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s continue our discussion about Risk Management and Insurance, this time we will be discussing public liability insurance or legal liability insurance against third parties.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As we know lately more and more accidents happen that cause injury, defects, deaths, and damage to goods.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unfortunately, the accident happened caused by another party who had nothing to do with the victim or with the company. As a result, the person who caused the accident was held responsible for the consequences of his mistakes and omissions that had caused the accident to occur.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Well, as an insurance broker and consultant we would like to discuss more this issue so that you understand more and take appropriate action.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are interested in this article, please share it with your colleagues so that they also understand you.<\/span><\/p>\n<p><b>Why do I need Public Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">if an accident happens on your premises, or something goes wrong out on site, do you have adequate protection against a claim?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having adequate Public Liability Insurance can help cover your business from the unintended and unexpected.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Public liability is a duty of care that businesses or property owners have to the public. And businesses may be liable for any injury that a person sustains on their property or because of everyday business operations.\u00a0<\/span><\/p>\n<p><b>Cover your business with Public Liability Insurance<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Public Liability Insurance policies usually cover anyone you interact with as part of your business, except for employees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regardless of whether you have a legal obligation to hold a Public Liability Insurance policy or not, many industries and businesses have some form of liability cover, especially those in the trade, construction, and retail sectors, because of their heightened interaction with members of the public.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Public Liability Insurance can be useful for any business that interacts with the public, either directly or indirectly, including subcontractors and sole traders. For example, you might consider public liability for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tradies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Retailers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Professionals<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Caf\u00e9 owners and restaurateurs.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It may also be beneficial for a business if they\u2019re looking to take on more work and bigger contracts from governmental and public organizations. Without it, businesses might risk losing lucrative contracts \u2013 as sometimes clients require proof of insurance.<\/span><\/p>\n<p><b>What happens if you don\u2019t have Public Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">As a business owner or contractor, you will have lots of different responsibilities and it\u2019s easy to put your public liability obligations aside.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if an accident does happen in your workplace, and you\u2019re not prepared, you might incur significant expenses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It may only take one minor accident and claim, and you could be significantly out of pocket. It\u2019s when the worst happens that you want to know you\u2019re covered, not just think you are.<\/span><\/p>\n<p><b>What Is Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The term liability insurance refers to an insurance product that provides an insured party with protection against claims resulting from injuries and damage to other people or property. Liability insurance policies cover any legal costs and payouts an insured party is responsible for if they are found legally liable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In summary:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Liability insurance covers legal costs and payouts for which the insured party would be found liable.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Liability insurance is often required for automotive insurance policies, product manufacturers, and anyone who practices medicine or law.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Liability insurance provides protection against claims resulting from injuries and damage to people and\/or property.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personal liability, workers&#8217; compensation, and commercial liability are types of liability insurance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Provisions not covered include Intentional damage, contractual liabilities, and criminal prosecution.<\/span><\/li>\n<\/ul>\n<p><b>How does Liability Insurance Work?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Liability insurance is critical for those who are liable and at fault for injuries sustained by other people or if the insured party damages someone else&#8217;s property.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As such, liability insurance is also called third-party insurance. Liability insurance does not cover intentional or criminal acts even if the insured party is found legally responsible.\u00a0<\/span><\/p>\n<p><b>Liability insurance is also called third-party insurance.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A product manufacturer may purchase product liability insurance to cover them if a product is faulty and causes damage to the purchasers or another third party.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Business owners may purchase liability insurance that covers them if an employee is injured during business operations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decisions doctors and surgeons make while on the job also require liability insurance policies.<\/span><\/p>\n<p><b>Special Considerations<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The cost of an additional insurance policy doesn&#8217;t appeal to everyone, although most carriers offer reduced rates for bundled coverage packages.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Personal liability insurance is considered a secondary policy and may require policyholders to carry certain limits on their home and auto policies, which may result in additional expenses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although commercial general liability insurance protects against most legal hassles, it doesn&#8217;t protect directors and officers from being sued, and it doesn&#8217;t protect the insured against errors and omissions. Companies require special policies for these cases including:<\/span><\/p>\n<p><b>Errors and Omissions Liability Insurance (E&amp;O)\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">An errors and omissions liability insurance policy covers lawsuits arising from negligent professional services or failing to perform professional duties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An E&amp;O policy does not cover criminal prosecution, fraudulent or dishonest acts, or claims against bodily injury. The insured, however, is covered for attorney fees, court costs, and any settlements up to the amount specified by the insurance contract.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lawyers, accountants, architects, engineers, or any business providing a service to a client for a fee should purchase this form of insurance.\u00a0<\/span><\/p>\n<p><b>Directors and Officers (D&amp;O) Insurance\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">This type of policy protects directors and officers of large companies against legal judgments and costs arising from unlawful acts, erroneous investment decisions, failure to maintain the property, releasing confidential information, hiring, and firing decisions, conflicts of interest, gross negligence, and other errors.\u00a0<\/span><\/p>\n<p><b>Types of Liability Insurance<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Business owners are exposed to a range of liabilities, any of which can subject their assets to substantial claims. All business owners need to have an asset protection plan in place that&#8217;s built around available liability insurance coverage.<\/span><\/p>\n<p><b>The main types of liability insurance:<\/b><\/p>\n<p><b>Employer\u2019s liability and workers&#8217; compensation<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Employer\u2019s liability and workers&#8217; compensation are mandatory coverage for employers which protects the business against liabilities arising from injuries or the death of an employee.<\/span><\/p>\n<p><b>Product liability insurance<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Product liability insurance is for businesses that manufacture products for sale on the general market. Product liability insurance protects against lawsuits arising from injury or death caused by their products.<\/span><\/p>\n<p><b>Indemnity insurance<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Indemnity insurance provides coverage to protect a business against negligence claims due to financial harm resulting from mistakes or failure to perform.<\/span><\/p>\n<p><b>Director and officer liability<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Director and officer liability coverage covers a company&#8217;s board of directors or officers against liability if the company should be sued.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some companies provide additional protection to their executive team even though corporations generally provide some degree of personal protection to their employees.<\/span><\/p>\n<p><b>Umbrella liability<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Umbrella liability policies are personal liability policies designed to protect against catastrophic losses. Coverage generally kicks in when the liability limits of other insurance are reached.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An umbrella insurance policy is additional liability insurance coverage that is purchased and goes beyond the dollar limits of the insured&#8217;s existing homeowners, auto, or watercraft insurance.\u00a0<\/span><\/p>\n<p><b>Commercial Liability<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Commercial liability insurance is a standard commercial general liability policy also known as comprehensive general liability insurance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It provides insurance coverage for lawsuits arising from injury to employees and the public, property damage caused by an employee, as well as injuries suffered by the negligent action of employees.\u00a0<\/span><\/p>\n<p><b>Comprehensive general liability<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Comprehensive general liability policies are tailor-made for any small or large business, partnership or joint venture business, corporation or association, organization, or even a newly acquired business.\u00a0<\/span><\/p>\n<p><b>How Does Personal Liability Insurance Differ from Business Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Personal liability insurance covers individuals against claims resulting from injuries or damage to other people or property experienced on the insured&#8217;s property or because of the insured&#8217;s actions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Business liability insurance instead protects the financial interests of companies and business owners from lawsuits or damages resulting from similar accidents but also extends to product defects, recalls, and so on.<\/span><\/p>\n<p><b>When Is Liability Insurance Needed?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">As a business owner, you may be wondering, \u201cHow much liability insurance do I need?\u201d General liability insurance is essential coverage that many businesses need because it helps protect them from certain lawsuits and risks that can come up during normal operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This coverage, also known as commercial general liability insurance or business liability insurance, helps cover claims that your business caused:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bodily injury, such as a customer getting hurt after slipping and falling in your store<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property damage to someone else\u2019s belongings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personal injuries, like libel or slander<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you don\u2019t have liability insurance coverage, you risk having to pay for these kinds of claims out of pocket. Lawsuits can put you out of business, which highlights the importance of liability insurance for your business. It can help protect you so you can focus on running a successful business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most businesses need general liability coverage. Sometimes, other businesses or organizations require your business to have this insurance. This can include when your business:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Applies for a professional license<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How Much Liability Insurance Do I Need?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leases office space<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signs contracts with other companies or clients<\/span><\/li>\n<\/ul>\n<p><b>How much liability insurance do I need?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">You can use a few key questions to help determine how much liability insurance your business needs. These include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How many employees do you have?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Is liability coverage required?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What are your state requirements for insurance?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What Is Required of a Business That Applies for Liability Insurance?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What type of business do you have?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What types of coverage are essential for your liability insurance policy?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Where is your business located?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When you get liability insurance, insurance companies will ask for certain information, like your:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business type<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Years in operation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Previous or existing insurance policy<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Insurers use this information to examine the amount of risk your business faces. They\u2019ll analyze your history of insurance claims and the type of business you run.\u00a0<\/span><\/p>\n<p><b>What Is Typically Not Covered by Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Your business liability insurance doesn\u2019t cover every type of claim. You\u2019ll need other types of insurance to help cover claims of:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Work-related injuries or illnesses that your employees get from their jobs. Workers\u2019 compensation insurance can help pay your employee\u2019s medical bills and give them other benefits to help them recover from a work-related injury or illness.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Property damage to business vehicles sustained in an accident. You\u2019ll need a commercial auto insurance policy to help cover these damages. Be aware that laws vary by state, and you may have to carry a certain amount of bodily injury liability, property damage liability coverage, and personal injury protection (PIP).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Employment-related claims such as sexual harassment, discrimination, or wrongful termination. Employment practices liability insurance can help cover your costs to resolve these kinds of claims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mistakes in professional services given to a customer. To help cover this kind of claim, you\u2019ll need professional liability insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These other policies can help you create comprehensive insurance coverage for your company.<\/span><\/p>\n<p><b>How Do You Get Liability Insurance?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">In Indonesia, getting Liability insurance\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">is not easy because there are not many insurance companies that can provide this type of insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The best way to set it up is to use a professional insurance broker who has access to a number of insurance companies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The broker is also capable of designing insurance terms and conditions that meet your business needs and adapt them to competitive insurance premiums.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the best <a href=\"http:\/\/lngrisk.co.id\" target=\"_blank\" rel=\"noopener\"> insurance broker<\/a> companies in Indonesia that can help you is L&amp;G Insurance Broker.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For all your insurance needs, please contact L&amp;G now!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sources:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.investopedia.com\/terms\/l\/liability_insurance.asp#:~:text=Liability%20insurance%20provides%20protection%20against,contractual%20liabilities%2C%20and%20criminal%20prosecution\"><span style=\"font-weight: 400;\">https:\/\/www.investopedia.com\/terms\/l\/liability_insurance.asp#:~:text=Liability%20insurance%20provides%20protection%20against,contractual%20liabilities%2C%20and%20criminal%20prosecution<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.thehartford.com\/general-liability-insurance\/when-liability-insurance-needed\"><span style=\"font-weight: 400;\">https:\/\/www.thehartford.com\/general-liability-insurance\/when-liability-insurance-needed<\/span><\/a><\/li>\n<\/ul>\n<h3>\u2014<br \/>\nLooking for Insurance Products? Don&#8217;t Waste Your Time and Contact Us Right Now<\/h3>\n<h4>L&amp;G HOTLINE 24 HOURS: <a href=\"https:\/\/web.whatsapp.com\/send?phone=628118507773\">0811-8507-773<\/a> (Call &#8211; Whatsapp &#8211; SMS)<\/h4>\n<p>website: lngrisk.co.id<\/p>\n<p>E-mail: customer.support@lngrisk.co.id<\/p>\n<p>&#8212;<\/p>","protected":false},"excerpt":{"rendered":"<p>Liga Asuransi &#8211; Dear readers, how are you? May your business be more advanced and successful. Let&#8217;s continue our discussion about Risk Management and Insurance, this time we will be discussing public liability insurance or legal liability insurance against third parties. As we know lately more and more accidents happen that cause injury, defects, deaths, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62,1006,25],"tags":[668,245,473],"class_list":{"0":"post-4420","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asuransi-liability","8":"category-financial-liability","9":"category-liability-insurance","10":"tag-asuransi-liabiliti","11":"tag-asuransi-profesi","12":"tag-liability-insurance"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/comments?post=4420"}],"version-history":[{"count":2,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4420\/revisions"}],"predecessor-version":[{"id":4424,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4420\/revisions\/4424"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media\/4421"}],"wp:attachment":[{"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media?parent=4420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/categories?post=4420"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/tags?post=4420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}