Public Liability Insurance for high risk professions
High Risk Professions Public Liability Insurance, how do you know that you are high risk, are you really a higher risk than your industry peers? What some insurers may term high risk others may not.
Of course there are always the trades that fit into this category and insurance will always take a slightly more complex route.
Let us un-complicate this route for you.
High Risk or Low risk – which one are you?
Certainly a trade such as a bricklayer would be pretty low risk, most insurers will provide public liability insurance for this type of trade where the work is carried out for house builders for instance.
Any low risk trade can change very quickly depending on what work is being carried out, liability insurance policies do have restrictions.
Carrying out installation work at an airport, usually not a problem if you are in the car park or adjacent area, work in the terminal and suddenly you could find yourself out of the scope of your cover.
Let us place your High Risk Insurance requirements
Being a specialist broker placing liability insurance for higher risk trades, as you would expect we have access to markets that can turn around quotations very quickly.
We deal with these markets on a daily basis, like anything else relationships play a very big part in the obtaining of quality insurance cover at the best possible premiums.
High Risk Public Liability insurance
Public Liability Insurance provides cover for any alleged or actual loss damage or injury you may cause to a member of the public where you have been negligent.
The scenarios are endless, we have all heard of the trips and falls experienced by the public, but when you are working at great height, depths or on higher risk premises the scenarios can get even more complex.
High Risk Public Liability Insurance will protect you against these alleged or actual losses.
As a contractor working in a higher risk environment you may also supply products whether you have bought them in or manufactured them yourselves Product Liability insurance usually comes together with Public Liability, and like Public Liability it protects you against actions against you for alleged loss damage or injury but when it is your product that has caused the potential loss.
High Risk Employers Liability Insurance, when you are working at certain locations the risk to your employees could be increased, heights, depths as well as other dangers.
Employers Liability protects you as an employer against actions taken by your employees or persons you have carrying out work for you and not only is it a requirement it’s actually a legal obligation.
For how much
When you buy High Risk Public liability insurance you will select a limit, this is called a Limit of Indemnity.
Various limits are available, usually starting around £1million, although this could these days be considered rather low. Indemnity limits are available to suit your requirements or your employers (main contractors). Although £2million and £5million are the standards, in more recent times £10million is becoming common.
Some employers or, perhaps where you are the main contractor, Structural Steel Work Engineers perhaps, you may require a much higher limit of indemnity. Because of our specialist High Risk Liability market colleagues we can place up to £100million and beyond if required.
Employers Liability Insurance for high risk businesses is also required and this is £10million as standard offered by almost all insurers (If you are given less, question why).
Who would benefit from High Risk Liability Insurance?
Of course the list is endless and it all depends on the trade, it may be high risk because of heights, Abseiling Contractors Insurance would of course suit businesses who’s business is to supply services at a great height or where the structure is difficult to access.
There are many trades where depths can be an issue, obtaining Tunnelling Contractors Liability Insurance where work is carried out underground.
And it’s not just about contracting…
Any trade that may be considered working on or near runways or where there is aviation of any types, Airside Liability Insurance will be essential, in fact you probably won’t be let anywhere near until you have provided adequate insurance for that one.
Any work on or near Petro Chemical Works, Gas, Power Stations, all are considered high risk, and specialist liability insurance must be obtained.
And for manufacturers.
Components for the automotive sector, Liability Insurance for Vehicle Parts Manufacturers can be a challenge for some insurers, anything you manufacture that has a connection with Aviation, Automotive, Boats must all be fully disclosed to insurers in depth.
And for the USA
USA Product Liability Insurance is essential where you supply/manufacture for the US market. We can place USA Product Liability within our markets, even where your business is 100% to the USA.
Let us take care of your High Risk Public Liability Insurance requirements, we place our clients with only quality A rated or above markets, whether in Lloyds or in the Company market.
Call Us on: 0330 058 0261