Public and Products Liability Insurance
It’s easy for independent contractors to think of themselves as individuals rather than businesses, and in that frame of mind, assume that they don’t need public and products liability insurance. But it’s a false assumption. Whatever your profession, from Graphic Designer to Management Consultant, from Engineer to IT Contractor, if you’re self-employed, you might very well be in need of public and products liability insurance.
For a start (if you haven’t noticed already) potential clients will often insist on it. A growing number of organisations across both the public and the private sectors are simply not willing to work with any supplier who does not have public and products liability insurance protection in place.
Quite simply, if you don’t have it, you won't get the work. But even if that doesn’t apply to your own personal roster of clients, you should still think very carefully about the serious financial risks you could be running if you’re operating without public and products liability protection.
Every business, no matter the size, has a duty of care to the general public. If a claim is made and your business caused physical loss, damage or injury to a person or their property, the courts will award costs and damages against you. Where a business is the manufacturer or distributor of a product, it may also be liable for damage caused by the products that it sells.