Individuals and Companies can be held responsible not only for their own actions but also for the actions of others (i.e. contractors or agents). Such actions may result in statutory fines and penalties being issued against the Principals, Partners and Company Directors and their employees. Each week we see articles where individuals and companies alike have been fined for matters ranging from workplace safety to breaches of various Acts.
While Public and Products Liability policies exclude cover for such fines and penalties, Statutory Liability Insurance protects companies and individuals against liability for statutory fines and penalties resulting from unintentional breaches of legislation.
Cover can be arranged on a standalone basis, or alternatively under a Management Liability or Directors and Officers Liability cover however care must be taken to ensure that cover applies to both the Individuals and the Company.
Contact Perrymans today so that we can advise on and structure an appropriate cover for your business.
Enquire About Statutory Liability