December 14, 2010 11:34 ET

Public Liability Insurance is a Necessity for Business Owners

LONDON, UNITED KINGDOM--(Marketwire - Dec. 14, 2010) - Public liability insurance is essential in the event that a customer or member of public is injured on your business premises and makes a claim for compensation.

Regardless of the precautions a business takes, unexpected incidents can still occur and, therefore, it is best to be adequately insured. Public liability insurance also provides businesses with protection against the financial implications of legal action.

Public liability insurance can also cover medical costs, the replacement of lost or broken possessions and the repairing of broken property. However, the level of benefit of a public liability insurance policy is decided by the individual business owner based on their specific needs.

UK businesses failing to obtain public liability insurance can expect to be fined, as illustrated by the recent fining of Writtel College in Chelmsford. The college was fined a total of £11,000 for breaching two lawful regulations, one of them being the Health and Safety at Work Act of 1974, when it was discovered that one of the students, John Huntley, used a bailing machine that did not have adequate guarding.

Health and Safety Executive (HSE) inspector Keith Waller said, "Advice and guidance is freely available to help organisations and individuals comply with the law and stay safe. HSE will not hesitate to take action against employers, including educational establishments who fail to comply with the law."

Other forms of liability cover are also necessary for the day to day running of businesses. These include employers liability insurance and professional indemnity insurance. These forms of insurance will protect employees, both part-time and permanent, in the event that they are injured on business premises.

It is not only a financial necessity but a legal obligation that your business has public liability insurance. Get a free online Endsleigh public liability insurance quote today.

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