What is Broadform Liability Insurance?

Broadform Liability Insurance Explained

Broadform liability insurance is a comprehensive policy that combines both public liability and product liability coverage. Public liability insurance may protect your business from claims related to third-party property damage or personal injury resulting from your business activities. In contrast, product liability insurance may cover damages or injuries caused by your business’s products.

The key advantage of broadform liability insurance is that it may provide protection regardless of whether the fault lies with your actions or your products. In Australia, many public liability policies already include product liability coverage, essentially making them broadform liability policies.

However, not all policies are the same. Specialized policies, like standalone public liability insurance, may not include product liability coverage. To determine your coverage, consult your insurance broker or refer to your policy documents.

In summary, broadform liability insurance is a versatile solution that safeguards your business from a range of liability claims. While it’s often referred to as public liability insurance, it covers both public and product liability aspects, offering comprehensive protection for your business. For tailored guidance on your insurance needs, always consult your insurance broker.

The content of this blog article is intended for general informational purposes only and should not be considered as professional advice. While we strive to ensure accuracy, we make no guarantees about the completeness or reliability of the information. For personalized guidance regarding insurance matters, we recommend consulting with a qualified professional. Any actions you take based on any information provided here is at your own discretion.