Liability insurance protects companies and the self-employed against compensation claims by third parties in the event of bodily injury, property damage and financial loss. In serious cases, claims like these can entail heavy financial losses. Public and professional liability insurance pays compensation for third-party claims and protects employees.
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No matter how careful you are, mistakes happen, and can cause serious damage – be it to people, property or financial assets. Even simple things, such as the wrong replacement part, an unmarked wet floor, faulty goods or delivering the wrong products can prove costly if you don't have liability cover. Moreover, the enhanced product liability insurance insures recall costs for faulty products, the costs associated with defective packaging or financial losses if your faulty goods give rise to costs for dismantling or exchange. Cyber risks present a digital threat to companies. By taking out Helvetia's Public and professional liability insurance, companies are placing the responsibility in professional hands and minimizing the risk of having to foot the bill themselves for damages suffered.
Essentially, Public and professional liability insurance pays compensation claims by third parties and contests unjustified claims. Therefore, as well as bodily injury and property damage, Public and professional liability insurance also covers the resulting financial losses. Among other things, it covers damage:
Companies and the self-employed should always take out Public and professional liability insurance. Merchants, dealers and service providers alike can be hit by liability to third parties.
Public and professional liability insurance is particularly advisable for professions with an inherently heightened risk of causing purely financial losses. Some examples of these are consulting professions such as lawyers and tax consultants, as well as architects, engineers and doctors.
Depending on the field of activity, the insurance should be supplemented to obtain comprehensive protection, with the addition of compulsory or voluntary products such as:
Liability Plus insurance means that even uninsured claims of up CHF 5,000 will be paid. One example of this is when a business decides, for commercial reasons, to voluntarily pay for third-party damage.
It is wise to supplement the Public and professional liability insurance with other types of insurance which are combined in the business insurance package for SMEs: