Is there a rule of thumb for how much public liability insurance we need as a business (e.g. x times turnover)? - product liability uk
My company is interested in expanding its insurance, but we are not really sure, are as knowing what we need. Sell food to the public in the UK, Europe and the United States and do not want to see that they are insured, but the rewards are high, so as not to want to pay.
Friday, January 8, 2010
Product Liability Uk Is There A Rule Of Thumb For How Much Public Liability Insurance We Need As A Business (e.g. X Times Turnover)?
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2 comments:
There is no golden rule.
When the supply of goods under a contract, then there can purchase a contractual volume of reporting. It is also necessary to check whether you have assets in the United States, many states require that you purchase directly recorded on-site insurance.
The responsibility that you should buy for the treatment of financial losses, including the abolition of the CAP.
You need to find a product liability insurance and 20,000,000 pounds upwards, and the fact that it does raise the question that you need advice on a number of national insurance brokerage.
The amount of liability insurance is not directly related to the turnover, but what could be the danger. For example, suppose you are a small company making the special cookies. If some accidental breakage in one of his witnesses and someone eats and leads to serious complications, one would think of a large compensation account. This law would be exactly the same, even when the ship ran into a pack of McVitie biscuits. McVitie biscuits to sell higher and higher costs than would be, it is a little more of a chance that could have this kind of problem. Nevertheless, the risk that firm size determines the size of the font that you need.
Why are you trying to extend the reporting? He decided that obviously you need more coverage. This means that you have an idea of what you need to be covered. I think we just have to bite the bullet and go.
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