Almost any business can cause accidental harm to other people or their property. You’ll be held liable for any damage that can be attributed to you.

It’s natural to think “it won’t happen to me”. But accidents do happen, even to the most innocuous and conscientious business. Your machinery might spark a fire that burns down the factory you’re leasing. One of your employees or clients might be hurt in the course of operations or by one of your products. Or you might inadvertently break a legal regulation.

This plethora of challenging scenarios – and countless others – can be effectively covered by business liability insurance. In the event of a third-party claim against you, you can receive compensation that protects your assets as well as your own financial security. Legal obligations – such as medical costs for an injured employee – are covered by the insurance provider rather than taken from your revenue.

There are many types of liability insurance, all of them with slightly different applications and nuances. To discuss your options with someone well-versed in the New Zealand insurance context, contact a One50 consultant today for a no-obligation assessment.