Title: Public Liability Insurance: A Need that has become Necessity

Online, May 5, 2010 (Newswire.com) - Press Release: One must try to define the term 'public liability' before trying to understand what exactly it entails. Businesses, factories, industries and other commercial processes often involve actions that may be considered to be hazardous to the public or the third party. Trespassers, bystanders, sub contractors, visitors...anybody can be exposed to risk either personally or have their property damaged. Laws vary from one country to another but there are several nations that have made public liability insurance mandatory. Sometimes the financial burden of such a policy can be burdensome for a company but in the long run the expenses are offset by the certainty of having the risks covered. Public liability insurance policies vary in the context of preconditions, warranties and exclusions from one service provider to another, but they all have one common unifying principle...the potential risk exposure is largely covered. It has often been seen that those businesses are in the greatest need of public liability insurance, which are occupiers of premises that are largely frequented by the public. Thus movie theatres, malls, hotels, shopping complexes, sporting venues, pubs....all are at risk. This risk perception increases when alcohol is consumed. Public liability insurance is then a blanket term used to cover all mishaps that may arise from having a member or members of the public exposed to any danger caused inadvertently by a company or commercial activity.

Sometimes a small business or manufacturing enterprise may decide to forego public liability insurance coverage out of a desire to avoid the high cost of premiums and thereby keep overheads down. However it has also been seen that any litigation can be crippling and can even close the fledgling business down. Thus the cost of high premiums is thus considered by savvy businessmen to be an expensive yet necessary component of their business outlay. They realize that costs incurred by legal fees or out of court settlement can far exceed that of high premiums. Public liability insurance is important and required...there are no two ways about that.