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LIABILITY INSURANCE

What is Liability Cover?

There are so many liabilities, so many forms of exposure you could be held accountable for should you be in breach. Herewith below we are merely guiding you with the most common forms of such. In essence Liability Cover grants cover to the third party where you could be held accountable for damages sustained to property or bodily injury and damages arising out of a neglect in your professional capacity to perform an accepted delivery.

What is Liability Cover?

There are so many liabilities, so many forms of exposure you could be held accountable for should you be in breach. Herewith below we are merely guiding you with the most common forms of such. In essence Liability Cover grants cover to the third party where you could be held accountable for damages sustained to property or bodily injury and damages arising out of a neglect in your professional capacity to perform an accepted delivery.

TRUCK & PLANT ON-DEMAND

A Global InsurTech First For Commercial Vehicles, Plant Machinery and Agri Equipment

Have full control of your insurance, start insuring on your command whether it is for your vehicle, plant, or agricultural equipment.

TRUCK & PLANT ON-DEMAND

A Global InsurTech First For Commercial Vehicles, Plant Machinery and Agri Equipment

Have full control of your insurance, start insuring on your command whether it is for your vehicle, plant, or agricultural equipment.

Increasingly it is the first policy businesses typically purchase these days as it covers many of the common risks businesses are exposed to. Cover includes bodily injury or property damage on the business premises or due to the business operations, personal and advertising injury and medical payments.  Commercial General Liability (CGL) insurance is generally categorized as an “all risks” type of insurance, under which it provides the widest form of cover unless specifically excluded. 

Commonly referred to as “PI Cover” as for cover in the professional industries, it is also known as “Errors & Omissions” (E&O) cover. It is a form of liability insurance which protects business and individuals against the neglect in professional advice and or service rendered and or product designed and more, bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. Cover could provide for the defence costs, including when legal action turns out to be groundless.

A policy that has figuratively speaking, shot through the roof in cost, especially for those involved with childbirth, midwifery. The policy grants cover for legal cost for when a medical or health care professional, through a neglect in action or omission, deviates from standards in their profession, thereby causing injury to a patient. The negligence might arise from errors in action or diagnosis, treatment, aftercare or health management.

Often called “D&O”, it is liability insurance payable to the directors and officers of a company or to the organization itself however please note, intentional illegal acts are not covered. Reimbursement in terms of this policy is for losses or advancement of defence costs in the event of a legal action brought against a director or officer for an apparent wrongful act performed, in their capacity as directors and officers of the entity.

Covering unfair labour practice / wrongful acts arising from employment, the legal action and the award will be the quantified loss.  The most commonly reported claims result out of CCMA Summonses brought against clients, as a result of wrongful termination, discrimination, sexual harassment and retaliation. In addition, defamation, invasion of privacy, failure to promote, deprivation of a career opportunity and negligent evaluation is covered too.

Have more questions? Get in touch

Email: info@staysure.co.za
Phone: + 27 (0)861 086 000
Phone: + 27 (0)21 975 1100
Skype Name: Mrdeliver1
21 Somerset Crescent
Durbanville
7550
Cape Town
South Africa

Reg No. 9512577/07
(FSCA) License No. 2635

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Situated in Cape Town, Stay Sure Insurance Brokers provides a wide range of customised insurance solutions to private and commercial clients nationally and throughout Africa.

We subscribe to the office of the Ombudsman for Short-Term Insurance, and are subject to the jurisdiction of the FAIS Ombud.

Stay Sure Insurance Brokers (Pty) Ltd (Reg No. 9512577/07) | Authorised Financial Services Provider | Member of the Financial Intermediaries Association (FIA) | Member of United Global Brokers | Financial Sector Conduct Authority (FSCA) License No. 2635

   +27 (0)861 086 000
   +27 (0)21 975 1100