As the likelihood of being sued is unpredictable and potentially very costly, the Mutual provides Public Liability and Professional Indemnity Cover.
Public liability insurance protects members against the financial risk of being found liable for negligence. Negligence is causing reasonably foreseeable harm, including:
- injury or death
- negligent advice
- nervous shock, such as emotional distress or a recognised psychiatric illnesses
- property damage, such as negligently causing a fire
- pure economic loss, which occurs in very rare cases where there’s a special duty of care and a negligent act or omission causes an organisation to lose expected revenue.
This may include liability due to breaches such as:
- not achieving the results of a contract
- providing negligent advice
- mistakes providing a service