Business liability
Covers damage to third parties arising from your business activities.
Why this matters
A single moment of inattention can trigger claims that exceed a year’s profit many times over. The plumbing firm whose fitting springs a leak overnight and floods three floors; the customer who trips over a cable in the shop and is unable to work for a long time – such cases quickly reach six or seven figures. Without insurance, the business is liable with its assets; with a sole proprietorship, the owner’s private assets are on the line as well. And even unjustified claims cost money: they have to be examined and fended off.
Practically no business with customer contact can do without this cover – from trades and catering to consultancies whose mistakes can damage clients’ assets. In Switzerland, business liability insurance is voluntary for most industries; some professions and activities, however, are subject to compulsory insurance, and many clients demand proof before they will sign a contract at all. The business pays the premium, usually based on payroll or turnover. The insurance performs two tasks: paying justified claims – and fending off unjustified ones at its own expense.
What you get out of it
A mistake in day-to-day business won't threaten the company's existence.
Third-party bodily injury, property damage and financial loss are covered.
Cover tailored to your industry instead of an off-the-shelf standard policy.
What we take care of for you
- Risk analysis by industry and activity
- Comparison of providers by sum insured and exclusions
- Inclusion of damage to property in your care or being worked on, where needed
- Claims handling and correspondence with the insurer
The advice is free for you — we are remunerated by the insurance companies through brokerage commissions and will disclose these on request.
Tips from our consultations
What we tell our clients time and again – free of charge, even before the first meeting.
With personal injury, it quickly comes down to medical costs, loss of earnings and pension benefits over decades. The premium difference between a tight and a solid cover sum is usually small – the difference when the worst happens, however, is existential.
Damage to items you are currently working on or have in your care is excluded from many basic covers. Yet for trades, cleaning and repair businesses, that is precisely the everyday risk. This inclusion belongs on every checklist.
The policy insures the activity stated in the contract. If you offer new types of work, open a branch or employ significantly more staff, tell your insurer – otherwise a gap opens up in the event of a claim, even though the premium was dutifully paid.
Report every claim to the insurer immediately and leave the legal assessment to them. If you hastily admit fault to injured parties or pay out of your own pocket, you jeopardise your cover. An honest “we’ll sort this out through our insurance” is perfectly sufficient.
