It is important to cover the small businesses with indemnity insurance as it can save the small businesses against the unexpected financial liabilities that can incur by the businessmen mistakes. The potential claims for which indemnity insurance is must usually comes from customer’s side or general public who are not part of your business but are somehow attached to your business such as in consultation firms, client’s are attached to consultants for taking business advise.
The small businesses should take public liability insurance that can be utilized to pay off claims that can be made in case the business lead damage to public property. The public liability insurance claim will cover even the most substantial claim amount and so is a must have for all kind of small businesses. If you are ever in a consultation business such as information technology consultation business than professional indemnity insurance is a must for you as it can save you from paying off huge claim amount that is made for the client for losses incurred by your advice.
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2 comments:
Hi - great entry, and yes, most small businesses would likely benefit from professional indemnity insurance. If you like, you could write a guest blog on our blog, and we could write one on yours?
I work for a company called BizCover (www.bizcover.com.au) that handles professional indemnity insurance in Australia. We allow people to get actual quotes online and compare between different insurers, which I'm sure you'll agree is an interesting business model.
Cheers!
Insurance is must for a business whether it is small or large. I am running up a small business and has recently taken up this policy to get covered with the losses.
commercial liability insurance
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