Why public liability insurance is so important

Although public liability insurance is not a legal requirement for many businesses, your client may not start a venture with you unless you have a public liability insurance cover.  As a matter of fact, your client’s contract with you may specify that you need to have coverage for the possible damages to the client during the contract period.  Having the cover also establishes your credibility among your clients and they would carry out business with you without worrying about the damages and legal issues that they may need to initiate against you in such events.


Public liability insurance Singapore is something you should have if your business requires you to interact with members of the public, because if you accidentally damage someone’s property while carrying out your business or a visitor injures himself or herself within your office premise, you will have to pay a hefty fine, which may include legal costs as well.  These costs can run into thousands or more, and if you are running a small business then these additional financial liabilities can put an end to your business.  However, if you have the cover, all the expenses will be taken care of by your insurer.


Irrespective of the nature of injury or damage, someone can always file a compensation claim against you.  The accident could be very simple in nature, like you or one of your employees spilling coffee on your client’s system, or it could be a serious one that could severely hamper your business and reputation.  However, this can be avoided if the claims are settled in an amicable manner, and public liability insurance deals with all such claims, whether the incident is small or serious in nature.


The consequences of such incidents and the resulting financial costs can jeopardize your personal and financial growth if you try to defend the compensation claims without insurance.  Public liability insurance also protects your employees, for example an injury caused to a visitor or a client because of your employee would also be covered, and the negligence on the part of the employee will not hamper your business either.


Public liability insurance helps you grow your business, which can otherwise be hindered by these unnecessary financial burdens due to liability claims, especially if your business involves a lot of public interaction.  Hence, to avoid uncertain expenses and carry out your business without any hassle, it is advisable to buy public liability insurance and get yourself covered against public claims.

The 101 On Transit Insurance

Everyone needs to be insured for a life cover, health cover or an accident cover in case of an eventuality. The main breadwinner should make it a point to have life insurance coverage so that the family does not suffer when s/he dies. In the case of health or accident insurance, it is a case of being smart because without this basic insurance, one will have to pay large medical bills. Ditto with marine insurance; if you own a ship, the vessel needs insurance. A person using the services of a freight forwarder in transportation of goods also needs to make sure that the goods during the journey have adequate cover.

In the export-import trade, transporting shipments from one location to the next is a done deal. After declaring the contents of the cargo, the bill of lading is provided to the exporter/importer. This covers various aspects like the amount, the duration of the voyage, insurance, and the generalities. Nevertheless, it is wise to have an additional insurance coverage in the event of an accident, fire and flood, vandalism, natural disaster, or anything else that may occur. The coverage begins once the items are booked with the cargo carrier and it ends once the cargo reaches the destination as detailed in the bill of lading.

The website www.allegiance.com.sg throws open plethora of information about the various insurance covers available. Marine insurance is also offered and if you are new to the concept, call in the professionals and get the 101 on the varieties available. A transit policy is defined as an annual cover in total, ideal for hull insurance as well as the exporter. Premium is calculated based on the value of the goods being shipped. The risk coverage is factored in, which is convenient to keep the cargo covered. 

When you opt for transit insurance, you can rest easy knowing that the goods exported are safe from damage or even loss. It is a stressful job trying to ship high value products from one location to the next. To find an insurance plan that suits you, a good service provider will offer you the best plan. Before going ahead, read the fine print carefully. Otherwise, your cargo may not have the adequate coverage that you expect. Conditions may apply, so get the policy right so that your most precious cargo is well taken care of during the journey.