Liability can be a confusing term for small business owners. You’ve probably heard of Public Liability insurance, but what about Legal Liability?

As a small business owner, you may already hold Public Liability insurance*. But do you know exactly what your policy does and does not cover?

If you’re a sole trader or small business owner, you know how important it is to protect your work and your customers. Even when you take care, accidents can still happen. Without insurance, you could face large legal or compensation costs that might seriously affect your business.

Just imagine: A phone call out of the blue. The caller has a voice you don’t recognise. He’s telling you he is hurt – badly – and you’re responsible. You hang up.

Public Liability insurance. It’s one of those fundamental covers that most SMEs are familiar with.

There are many legal liabilities that come with business ownership, which is why many business owners look for ways to reduce liability claims against their business and minimise Public Liability risks.

Public Liability? Tick. Professional Indemnity? Sorted. But there’s one business insurance that often flies under the radar — Statutory Liability insurance.

In business, the phrase “liability exposure” isn’t just a buzzword – it’s a reality that every entrepreneur and small business faces. At its core, liability exposure can be defined as the potential financial or reputational harm a business might suffer due to unforeseen events or mishaps.

If you own a small business, there’s no denying one the most important things you need to protect your assets is Small Business Insurance. But what kind of insurance do you actually need?