Public Liability – What Is It Good For?

Public Liability insurance isn’t just another box to check off for your business – it’s your safety net when things go sideways. It covers the Tenant themselves, their staff, contractors, customers, and members of the public for legal and other associated costs, as well as other expenses if – while running the business – a third party is injured or their property is damaged either:

• In the rented property
• Because of their products or services
• Negligence

For example, if a customer slips at the property, gets food poisoning, or if a contractor hurts their back lifting your boxes on the job. Without the right coverage, you could be facing major financial headaches.

In Australia, you’re responsible for financial damages, legal costs, and other charges if personal injury or property damage is caused to another person due to actions associated with the operation of your business. Without adequate coverage, legal bills and compensation for such claims could make your business come to a grinding halt; even everyday slip-and-fall accidents can leave your business thousands of dollars out of pocket. Victims have the right to sue the company and its directors will be personally liable.

It’s important that your property manager ensures that both the building’s and Tenant’s public liability policies are up with sufficient coverage. Snezana loves to talk compliance, so if you have any questions please reach out to her directly if you have any questions regarding your or your Tenant’s insurance. Don’t even hesitate – she’s got your back!