The Importance of Public Liability Insurance

June 19, 2024 Eliza Whyte

In todays litigious society, protecting your business against potential risks and liabilities is

more important than ever. Public liability insurance is a fundamental component of this

protection, safeguarding businesses against claims arising from personal injuries or

damages to third parties or their property. Whether you are an accountant or bookkeeper or

run a large practice with multiple partners, understanding the significance of public liability

insurance can help ensure the longevity and stability of your business.

Why Public Liability Insurance is Crucial

Protection Against Claims: Public liability insurance provides coverage for legal

costs and compensation claims made by third parties who suffer personal injury or

property damage due to your business activities. Accidents can happen at any time,

and without adequate coverage, the financial repercussions of such claims can be

devastating. Public liability insurance ensures your business can handle these

claims without compromising financial health.

Legal and Contractual Requirements: Public liability insurance is not just a prudent

choice but a legal requirement in many industries. Specific contracts, especially

those with government bodies or large corporations, may mandate public liability

insurance as a condition of doing business. Ensuring you have the appropriate level

of coverage helps you meet these requirements and creates more opportunities for

securing lucrative contracts.

potential claims can be a significant source of stress. Public liability insurance

provides peace of mind, allowing you to focus on delivering excellent service and

growing your business. Knowing that you are protected against unforeseen incidents

means you can operate with confidence and peace of mind.

Comprehensive coverage: Having Public liability & Professional Indemnity together

provide a shield for your business defending in case of financial loss, personal injury

or property damage.

Insurance for accountants and bookkeepers extends far beyond simple professional

indemnity. IPA Insure, the Institute of Public Accountants; in-house insurance broker, offers

a range of covers tailored to the industry’s specific needs. From cyber and public liability to

management liability and general insurance, we provide comprehensive solutions designed

to protect every aspect of your business.