Excess of Loss Public & Products Liability - Vision Group

ACCOUNTANTS

Excess Public & Products Liability

Vision Excess of Loss Public & Products Liability

Awards for injuries and damage are rising at an alarming rate and indemnity limits, once considered as adequate, are failing to keep pace. A decade ago, £2M public liability indemnity limit was considered as an adequate minimum - nowadays many local authorities insist on £10M as a minimum for their contractors, regardless of trade.

Businesses need to secure adequate limits to protect their balance sheets, the public and meet the stringent demands imposed upon them by their customers. These contractual requirements for high limits are commonplace in contracting trades although they are less frequently examined by product manufacturers. Manufacturers need to remember that their indemnity limits are normally aggregated for their products and the limit may become exhausted should their products cause multiple accidents.

For more information contact Sanchia Groves.

Please register or log in to view further documents.

Documents available for viewing

• Enquiry Form
• Renewal Form