Benefits of Taking Out Public Liability Insurance with CGU
CGU is one of the largest general insurance providers in Australia and has spent the last 160-years protecting Australian individuals, families and corporations. They offer commercial and personal insurance, and specialise in making insurance a simple and easy-to-understand process. They are a top-tier* provider of workers compensation insurance and process about 1000 claims every day, paying out roughly 98% of them. Aside from their reputation, reasons to choose CGU as a provider include their easy claims process, which is open 24/7, and their vast network that allows for most customers to have a local contact.
If you are ready to speak with a consultant about different business insurance options available, simply enter your details in the form. Keep reading if you want to learn more about the different types of cover available.
Having public liability insurance is important for businesses. Public liability insurance provides protection against a number of risks, most importantly those related to personal injury and property damage. Cover is relatively inexpensive and it can protect your business against an array of potential risks. If you operate in an industry where personal injury or property damage are likely to occur, public liability insurance is a simple way to protect yourself and have the peace of mind that comes with knowing your business will survive an unexpected loss.
CGU public liability insurance
CGU public liability insurance offers you protection against claims of liability and property damage from accidents or injuries that occur while operating a business. A policy can be tailored to your needs. A public liability insurance policy with CGU will cover you for the costs of liability, property damage and defence costs.
CGU aims to promote the purpose of the General Insurance Code of Practice, which includes the betterment of relationships between customers and insurers, the improvement of customer confidence in the insurance industry and the provision of better customer service and stronger mechanisms for resolving customer complaints.
Why is public liability insurance so important?
There are a number of reasons why it is so important to have a comprehensive public liability insurance policy for your business.
- Personal injury. Public liability protects you when you are liable for compensation for situations including:
- bodily injury
- Property damage. This refers to the loss, damage or destruction of tangible property.
- Legal costs. Defending a claim of personal injury or damage can be a long and expensive process. Having public liability insurance can help you pay any compensation you are liable for, along with any other associated legal costs.
- Legal requirement. Public liability insurance is a requirement for many professions so it’s important to know whether you’re required to have this kind of protection in place.
- Public liability insurance as extra cover. Public liability can be combined with other types of insurance such as product liability insurance or within an insurance package.
- Custom fit. Many providers offer ‘tailor-made’ options that you can take advantage of to suit your personal preferences and business situation.
What kind of protection can you get from CGU public liability insurance?
CGU public liability insurance covers for personal injury or damage to property that:
- a reasonable person would not expect to occur
- is caused by a single incident, a series of incidents, or repeated exposure to the same conditions
- occurs anywhere outside of North America
- occurs during the period of insurance.
The types of personal injury that are covered under the policy include the following:
- physical injury such as bodily injury, death and disability
- mental injury such as shock and mental anguish
- detainment such as unlawful arrest and unlawful imprisonment
- libel, slander and defamation
- wrongful eviction, wrongful entry or invasion of privacy.
The types of damage to property that are covered under the policy include:
- physical damage of property
- destruction of property
- loss of use of property as a result of damage or destruction.
As you can see, the terms of CGU’s liability insurance are quite broad, which means that the policyholder can gain the advantages of coverage that applies broadly to a wide range of situations. Essentially, the public liability insurance should cover you for any of the above examples of personal injury or damage to property as long as they occur outside of North America, occur during the period of insurance, and a reasonable person would not expect the personal injury or damage to property to occur.
What are the key features of CGU public liability insurance?
CGU’s public liability insurance can also protect you via a list of additional benefits to what has been outlined above. Below is a summary of some of those benefits:
CGU’s public liability insurance will cover any legal costs that you are liable for. These costs include:
- the defence of a public liability claim
- any costs you’re liable to pay as a result of the claim
- the reasonable costs needed for your representation at a coroner’s inquest or summary jurisdiction court.
Cover for Others
CGU’s public liability insurance Others provided they were acting in accordance with the policy document. This is only in situations where you would normally be liable yourself if the agreement hadn’t been entered into. It will also cover any of your directors, partners, officers or employees acting within the scope of their duties. Any of your existing subsidiary companies will also be covered. Also, any further subsidiary companies that become owned by you during the insurance period will also be covered for a period of 90 days.
Loss of Goods in Your Possession or Legal Control
CGU’s policy will not only indemnify you for damage to goods in your possession, but will also indemnify you for loss of goods (or loss of their use) in your possession or control (but not owned by you) in the same way as a claim for damage to property described previously. This is as long as the loss was not caused by physical damage or destruction. The maximum amount of indemnity under this benefit is $100,000.
Damage to Goods in Your Possession or Legal Control
Similarly to the benefit outlined in the previous section, CGU will also indemnify you for public liability in relation to physical damage or destruction of goods that you don’t own but that are under your control or in your possession. This benefit also has a maximum amount of indemnity of $100,000.
First Aid Expenses
Where a claim is made against you for personal injury, CGU will also cover you for any of your reasonably incurred expenses for first aid given to others at the time of an injury.
CGU Public Liability Insurance Exclusions
Like most insurance policies, CGU’s public liability insurance has a list of exclusions, which are circumstances in which CGU will not indemnify the insured. The following are some of the exclusions under the policy:
- Workers’ compensation, such as liability for personal injury or a breach of duty to a person in your employment
- Discrimination and harassment in violation of statute
- Assault or battery committed by you. That is, unless it was for the purpose of preventing danger
- Waiver of rights. This is where you release your right to claim indemnity from another
- Contractual liability. This relates to liability that you assume under a contract with another person unless liability would have been attached to you in the absence of the contract
- Intentionally causing personal injury or damage to property
- Faulty workmanship
- Product recall and repair
- Reinstatement, repair, or replacement of your products
- Loss of use of property
- Aircraft products
- Aircraft and hovercraft
- Building and demolition. This refers to claims relating to the erection or alteration of buildings
- War, invasion, act of foreign enemy
- Nuclear weapons or nuclear material
- Date recognition systems
- Advice for a fee. This is liability arising out of rendering advice, which is probably best covered with professional indemnity insurance
- Electronic data and software.
Get a Public Liability Quote From CGU
CGU can provide you with the protection you need from claims of public liability. Their dedicated claims staff are available 24/7/365 to make sure your claim is processed quickly, so as to avoid any inconvenience. If you work in an industry that has a high amount of risk, get a public liability quote today.
* The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.