An Employer takes it out to cover his Liability to pay compensation to any employee for injury,disease,illness or death that arises out of and in the course of his employment by the Employer. An example would be if you slipped on a banana skin in your companies premises that had been left on the ground by an unknown person.
Similar to above but is for claims which arise from members of the public or companies for accidental bodily injury or damage to property due to the negligence of the insured or his employers. An example would be a shop assistant drops a box on your foot while you shop in a boutique
Professional Indemnity: It covers the insured against claims which might be made alleging that injury or loss resulted from his negligent action or advise. An example would be a Financial Adviser recommending clients to an investment fund that is in fact illegal to invest in.The Central Bank Regulates this sector and Professional Indemnity Insurance is a requirement.
Products Liability: This covers legal Liability for bodily injury or damage caused to property by either a product,goods or services sold or supplied. You might buy and eat a piece of chicken that makes you ill.
Gerry Carter CDIP LA