Liability Insurance

Liability insurance covers legal liability for injury, property damage or financial loss caused to employees, customers or third parties.

Common types of liability insurance include:

Work Injury Compensation:

under the Work Injury Compensation Act, all employers must take up insurance to cover their liability to pay compensation to employees defined in the Act as "workmen who are injured in the course of employment.

Motor:

all motor vehicles must be insured under provisions of the Motor Vehicles (Third-Party Risks and Compensation) Act.

Public Liability:

covers your legal liability for causing bodily injury to or damage to property belonging to third parties such as suppliers, customers or members of the public, as a result of negligence.

Product Liability:

covers your legal liability to pay damages in respect of bodily injury or death to any person or loss of or damage to property caused by any goods sold, supplied, repaired, altered, or treated from or in connection with your business.

Directors' and Officers' Liability:

provides indemnity for your directors and officers against liability from any claim made arising from any negligence, breach of duty or trust in their capacities as directors and officers of your company.

Errors and Omissions:

provides indemnity for the legal liability to pay damages and claimant's costs and expenses due to the professional or technical incompetence of the insured. Cover can be provided for council members of Management Corporations Strata Title (MCST) (such as condominiums) and management committee members of professional associations, social clubs, etc.

Professional Indemnity:

provides protection against the legal liability arising from negligence during the course of your professional work in specific professions, such as medical practitioner.