Public and Products Liability Insurance Specialists
Public and products liability insurance is important cover for pharmacies in Australia. Pharmacies deal with people and sell products on a daily basis and there is a likelihood that accidents can occur. Consequently, there are many risks faced when operating a pharmacy and it is crucial that pharmacies limit their exposure to liability with appropriate, complete and adequate insurance cover.
What is Public and Product Liability Insurance?
Public and product liability insurance consists of two covers: public liability insurance and product liability insurance. They both cover third parties, not including employees, like customers, clients and members of the public in the event that an accident occurs that was not reasonably foreseeable and where damage is caused.
Public liability insurance covers damages to third parties, including personal injury and property damage. On the other hand, products liability insurance is a subset of the former type of policy and covers personal injury or property damage arising out of any products sold by the pharmacy.
It is important to note that public and product liability insurance does not provide professional indemnity coverage.
Do I Need Public and Product Liability Insurance?
At Carollo Horton, we spend time with you to identify the risks that you and your stakeholders face when operating and dealing with your pharmacy business in Australia.
We tailor the insurance product to suit your needs and requirements. This allows you to take control over the premiums, excess, exclusions and other negotiable terms. We also assist you in understanding your policy terms, inclusions and exclusions so that there are no surprises when a claim needs to be lodged.
The person who builds your insurance cover is also the person who services and updates your insurance portfolio and will attend to your claims. This customised insurance package means that you will have faster claims processing, because the dedicated advisor knows you, your business and your requirements well.
Why is Public and Product Liability Insurance Important?
Public and product liability insurance is important because accidents can happen. Business is risky. When you are deal with the public, your business is exposed to many risks. Should someone fall over whilst browsing products in your pharmacy, or a product you sell cause personal injury to a customer, having the right insurance coverage might assist you to lower the financial burden a liability to your business can cause.
Legal costs and claims for damages can be very high. Especially in a highly regulated industry, there are many risks that need to be controlled. Discussing your requirements with a pharmacy insurance specialist will allow you to obtain the best coverage at the most affordable price.
Additionally, insurance is a requirement to comply with industry regulations. We will assist you to assess your pharmacy operations and ensure that your business is covered appropriately. We take the stress out of your day to manage your insurance portfolio and ensure that it is accurate and up-to-date.
How Much Public and Product Liability Insurance Costs?
Pharmacies should be insured because incidents can occur. When an event of loss occurs, it is vital that an insurance policy is active at the date of loss. Sufficient cover should exist so that you are not left out of pocket. All of these factors, and much more, will affect the premium paid by the insured party. It is advisable to contact us to discuss your specific circumstances so that we can tailor a package to suit your needs.
Public and Product Liability Insurance Quotes
We ease the stress so that you can spend more time resuming business as quickly as possible. We can provide you with a quotation over the phone, after we ask you some questions.
We work hard with our clients to deliver exceptional products and results. We negotiate on your terms to ensure that you are comfortable with your insurance policy so that there are no surprises when a claim is made.
Give us a call and find out about tailoring a public and products liability insurance solution that fits your business. We service Melbourne, Sydney, Brisbane, Adelaide, Perth and all regional areas of Australia. Call 1300 227 655 or submit an online query now to receive a response as soon as possible.