What does liability insurance cover?

Short-term insurance covers the loss of a specific item or against a particular event over time. Long-term insurance, on the other hand, generally refers to ensuring the life of a person. Short-term insurance is flexible and can be changed as your circumstances do.

Liability insurance can cover the cost of losses you cause unintentionally or through negligence to a person or their property. This form of insurance generally covers the costs of medical bills or repairs.

Businesses may take out liability insurance as part of a comprehensive risk management strategy.

General liability cover

General liability cover is a form of liability insurance that could include cover for the costs of lawsuits, property damages, bodily injuries, and operations or premises liabilities.

Directors and officers liability cover

Directors and officers or D&O liability insurance protect your board of directors and officers against liabilities if your company is sued. A case may be brought against your company if directors or officers act carelessly to put the company in danger, whether by omitting valuable information or committing a lawless act.

Cyber insurance

Everything is digital. This type of liability insurance includes cover for the damage and defence costs in the event of a data breach that exposes personal or corporate data.

Additional data security breaches covered by cyber insurance include:

  • Effects of malicious code inserted by third-party data.
  • Unjust access denial to data by authorised third parties.
  • Theft of access codes from employees, computer systems or other sources on the company’s premises.
  • The destruction or modification of data on any computer system.

Cyber insurance also covers the physical theft of hardware, the costs for legal advice and representation in a formal investigation, and more.

Commercial crime insurance

Employee fraud has a negative impact on your company’s cash flow and reputation. In addition, it could influence investor confidence and employee morale. Commercial crime insurance offers a comprehensive solution that includes crime cover for fraudulent acts by third parties and possible retroactive cover.

Event liability

Event insurance covers you for worst-case scenarios at social events. This cover also extends to event cancellations but generally covers you if a person sustains bodily injury or illness, including death and loss of property and property damage. However, considering the government’s limitations regarding the size of events, exclusions may relate to COVID-19 transmission.

The type of liability insurance for your company depends on your industry and how your business operates.

Contact Undercover Insurance Brokers for details

Undercover Insurance Brokers, has an extensive track record of service excellence. If you would like to know more about our liability insurance services, contact one of our representatives.

Leave a reply

Subscribe




011 450 1414

Underwriting: info@undercover.co.za
Claims: claims@undercover.co.za

28 Lucas Lane, Bedfordview


Office Hours:
Monday to Friday 08h00 to 16H30

Covid 19 Update