Liability insurance
Business liability insurance covers your company in case of indemnification liabilities. Request an offer for general liability insurance.Protection against liability for damages
We will investigate whether your company is liable for indemnification and negotiate with the injured party if necessary. If it is found that your company is liable, we will compensate the damages.
Experts at your service
The insurance allows you to focus on your company’s core operations while we take care of any claims for damages against you.
Suitable liability insurance for your company
Select the general liability insurance cover that best meets the needs of your industry. If necessary, we also offer customised liability insurance for your company’s specific needs.
Why is general liability insurance important for companies?
Situations may arise in your business operations where you are liable to compensate damages incurred by another party. Your company’s indemnification liability may be related to water damage caused by faulty installation or a customer tripping over on an old frayed doormat in your shop.
An indemnification liability will result in unexpected additional expenses for your company. As mistakes and disputes are difficult to foresee, general liability insurance provides essential cover for companies of all sizes.
We will take over management of the situation entirely in losses that are included within the scope of the insurance. We will help you investigate whether your company is liable for indemnification and negotiate with the injured party if necessary. If it is found that your company is liable, we will compensate the damages. If there is no indemnification liability and the matter is taken to court, we will take care of the legal proceedings for you. Investigation and claim settlement services are included in the insurance premium.
Liability insurance is essential for companies and self-employed persons
The difference between general liability insurance and ordinary non-life insurance is that liability insurance covers damages caused to a third party. General liability insurance protects the policyholder against liability for damages.
Liability insurance has become increasingly important and is today an essential part of the risk management systems of companies. Whether you are a private trader or own a limited liability company, the purpose of general liability insurance is to protect against damages caused by you or your employees or products.
Which type of liability insurance is best for your business?
Your company’s liability insurance covers liabilities for damages that arise from activities specified in the policy document.
Depending on your line of business, you may need more than one liability insurance policy. In the case of accounting firms, for example, adequate insurance cover typically requires two different types of liability insurance: business liability insurance and financial loss cover.
For this reason, you should take out liability insurance for all your company’s business areas. In pricing your liability insurance, we also take into account risks specific to your line of business. Insurance policies contain a certificate of general liability insurance often required for tendering services and contracts. Contact us for more information.
Do associations need liability insurance?
Liability insurance also protects associations. Situations may arise in an association’s activities where the association is liable for damages suffered by another party.
We recommend that associations review their scope of activities and the need for insurance. For example, if the association organises public events, liability insurance may be necessary. Liability insurance policies cover bodily injury and material damage to third parties for which the association is liable.
Select the types of liability insurance necessary for your company
- Business liability insurance covers bodily injury or material damage caused to a third party for which your company is liable for compensation.
- Product liability insurance covers bodily injury or material damage caused to a third party by a faulty or defective product, provided that your company is held legally liable.
- Professional indemnity insurance provides cover when a company engaged in planning and consulting finds itself liable to indemnify losses caused by a design error. The indemnification liability may be the result of an error, deficiency or omission in designs, research results and measurement results.
- Financial loss cover is intended for companies whose operations carry the risk of losses that are primarily of a financial nature. These include law firms, accounting and bookkeeping firms, real estate brokers and property management firms.
- Directors' and officers' liability insurance covers financial losses caused by the managing director or board member of the insured company.
- Contractors' liability insurance covers against damages caused by faulty contract work. No matter how careful your company’s work, unexpected accidents can happen.
- Companies are obligated to take out statutory Environmental damage insurance if their business activities carry an intrinsic risk of environmental damage or cause general harm to the environment.
Remember also to insure your company’s real property and vehicles and any statutory insurance, such as workers' compensation insurance for your employees. If you are just starting your business, you should also take care to ensure that your company’s legal expenses insurance is valid before agreeing your first contracts.
What factors affect the price of general liability insurance?
The price of general liability insurance depends on the following factors, among others:
- the company's line of business
- amount of salaries paid
- sum insured and deductible
The price of general liability insurance is also affected by your company’s net sales. We base our rates on the risks specific to your business sector, so remember to take out general liability insurance for all the business sectors in which your company operates.
Pohjola Insurance experts have extensive knowledge of your business. They can provide more information about the content, additional covers and cost of business liability insurance, whether you are a private trader or own a limited liability company.
We are happy to go over your needs and help you choose a suitable insurance solution for your company’s business. Ask for an offer for business liability insurance and your company’s other liability insurance needs