LIABILITY INSURANCE
Want to Know a little about Broadform Liability Insurance? Let us tell you.
Broadform liability insurance is a specialised type of insurance designed to safeguarding your daily operations against third-party claims. Company decision-makers must implement a solid risk management strategy, ensuring their business has the appropriate coverage for potential risks..
Comprehensive Broadform Liability Insurance Solutions
Companies face numerous daily risks, with one of the most common being liability for losses caused by their employees’ actions or inactions. Legal liability can have severe consequences for a business. Broadform Liability Insurance protects your business from third-party claims that could otherwise be devastating. At XINIX, we provide a variety of customised solutions to meet the needs of your business, these extensive policies offer the peace of mind you deserve.
Some of the covers available
Contractors Liability
Employers Liability
Pollution Liability
Products Liability Insurance
Products Liability - Defective Workmanship
Public Liability Insurance
Spread of Fire Liability
Statutory Defence Costs
Wrongful Arrest / Defamation
Get in touch with us today to learn more about the insurance solutions and discover how you can help protect your aviation operations.
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As this is specialised insurance, we require some information that will allow for us to setup for a meeting and setup time to understand your requirements as each business is unique.
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INSURANCE SOLUTIONS
Available Products
Pollution Liability
Provides coverage for third-party bodily injury and property damage resulting from sudden and accidental pollution caused by the insured.
Wrongful Arrest | Defamation
This extension covers wrongful arrest, false imprisonment, and related assault caused by the insured. It also includes coverage for defamatory statements, whether written or verbal, and is typically sub-limited. Coverage for media risks is not automatically included.
Statutory Defence Costs
Provides coverage for costs incurred during an investigation or prosecution for an alleged violation of a statute.
Employers Liability
Employer’s Liability covers the insured’s legal liability for employee injuries. This coverage is secondary, as employees are generally precluded from suing their employer. The Employer’s Liability section of the policy specifically excludes claims covered under any worker’s compensation legislation.
Products Liability Insurance
Every business that manufactures a product has a legal obligation to ensure that their products do not cause harm to third parties or damage their property. If a defect in a product supplied by your business leads to injury or property damage, a Products Liability Insurance policy will cover the compensation costs, in accordance with the policy’s terms, exclusions, and conditions.
Contractors Liability
Indemnity is provided for the insured’s legal liability to pay a third party arising from their construction works. Contractors Liability Cover is automatically included for clients like electricians and plumbers.
Due to the nature of their business, the insured does not require a separate Contractors Liability extension, as coverage is automatically included under the Public Liability section.
Spread of Fire Liability
Provides coverage for third-party bodily injury and property damage resulting from a fire originating at the insured’s premises or contract site and spreading to third-party property.
Public Liability
Public Liability Cover is designed to protect individuals, businesses, and non-profit organisations from claims for injury or damage for which they are legally responsible. This policy covers claims from members of the public, clients, or customers (third parties) who suffer an accident or incident while on business premises or elsewhere, if you or your business is found liable. Liability can result from the careless or negligent actions of business owners and their employees.
Defective Workmanship Insurance
This extension covers amounts for which you are liable due to damages or injuries inflicted on a third party by something you worked on, where the damage resulted from a defect, error, or omission during that work. Please note that the item worked upon is not covered, only liability arising as a result of such work.
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Broadform Liability Insurance
Broadform Liability Insurance
Who needs broadform liability insurance?
How does broadform liability insurance differ from general liability insurance?
Broadform liability insurance offers more extensive coverage, including additional insured provisions and broader definitions of covered activities, compared to standard general liability insurance.
What are the key components of broadform liability insurance?
Key components include coverage for bodily injury, property damage, personal and advertising injury, and legal defense costs. Additional endorsements can extend coverage to specific risks relevant to the business.
Does broadform liability insurance cover contractual liability?
Yes, broadform liability insurance typically includes coverage for liability assumed under contract, which is not always covered under standard general liability policies.
What is not covered by broadform liability insurance?
Common exclusions include intentional acts, professional services (unless specifically endorsed), pollution liability, and damages from war or nuclear risks. Some policies may also exclude coverage for cyber liability unless specifically added.
Are there specific industries that benefit more from broadform liability insurance?
Industries with higher risk of third-party claims, such as construction, manufacturing, and hospitality, benefit significantly from the broader coverage provided by broadform liability insurance.
How does broadform liability insurance handle claims related to product liability?
Broadform liability insurance typically includes product liability coverage, protecting against claims of bodily injury or property damage caused by products manufactured, sold, or distributed by the insured.
Can broadform liability insurance cover multiple locations or operations?
Yes, broadform liability insurance can be tailored to cover multiple locations, operations, and subsidiaries under a single policy, providing comprehensive protection across various aspects of the business.
How does broadform liability insurance interact with other types of insurance?
Broadform liability insurance can complement other policies such as professional indemnity or cyber insurance, ensuring comprehensive coverage. It’s important to coordinate these policies to avoid gaps or overlaps in coverage.
What is broadform liability insurance?
Broadform liability insurance provides comprehensive coverage for third-party claims, including bodily injury, property damage, and personal injury arising from your business operations.
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