We live in a litigated world where higher standards of behaviour and compliance with laws and regulations are expected of businesses whether they be home-based, small, medium or large. Breaches of laws and regulations can lead to court cases, fines and penalties. Many of these breaches can be unintentional, but any time a business is called upon to defend itself against an alleged breach, costs are incurred. These costs can range from investigating, preparing to defend allegations, appearing in court and escalating to any fines or penalties imposed by a court.
Our business insurance package includes an optional statutory liability cover. This important and valuable optional statutory liability cover will indemnify businesses in respect of fines imposed and costs to defend your business under various Acts of Parliament, including proceedings before a Human Rights or Privacy Review Tribunal.
Our statutory liability covers businesses up to a $1m limit of indemnity. It's a simple product to buy, and its very valuable.
For more information on business insurance and statutory liability cover, please download and read the policy wording.