Third Party Public Liability Insurance:

Third Party Public Liability Insurance protects you if clients or members of the public suffer personal injury or property damage because of your business. It can pay for the costs of subsequent legal expenses or compensation claims and is an integral cover for businesses that interact regularly with customers. A customer slipping or tripping over is one of the most common accidents in the book and can often result in a public liability insurance claim.

Third Party Public Liability Insurance can cover compensation payments and legal fees if your business is found responsible for injury to a member of the public – such as a client, customer, supplier or passerby – or damage to their property or possessions.
For example, if a roofing company was hired to re-tile a roof but they didn’t use adequate weather protection, resulting in severe water damage, the client could make a claim against them for compensation to pay for repairing the damage. Public liability insurance ensures that the company can meet the cost of the claim, along with any legal expenses.

In summary, public liability insurance may typically cover for:

• Compensation payments for injury or even death to members of the public (e.g. the cost of hospital treatment and ambulance call out)
• Compensation payments for damage to their property or possessions (e.g. the cost of repairing the damage caused)
• Legal expenses associated with defending a claim

 

Although Third Party Public Liability Insurance is not compulsory under Lebanese law, it may be required by your client contracts. Also bear in mind that some companies are obliged by their regulator or membership body to take out a certain level of business insurance.