As a business owner there are many things you must consider. One of these is the safety of people, and property, that you encounter through the course of your operations. Should an accident or damage occur, impacted third parties may lodge a claim against your business. These claims have the potential to present costly legal fees along with obligations to pay for injury or damage caused.
If your business activities see you regularly deal with clients or the public, insuring against this risk is worth considering. This is where public liability insurance comes into play. Public liability insurance protects your business against litigation fallout in two key areas.
The first area includes any third-party accidents or injuries sustained through the course of your business activities. The second covers any accidental damage incurred to property owned or controlled by another party. Typical litigation costs can include defending liability lawsuits, along with any compensation you may be required to pay.
While public liability insurance is mandatory for some business types, it is not currently compulsory in Australia. But be warned; the perils of failing to insure are significant. If you have had the misfortune of a guest injury on your premises, you will know that the stakes are high.
Having public liability insurance can be the difference between the survival of your business, and indeed your livelihood. It provides assurance that comes with knowing your business is safeguarded in the event of an incident. However, this peace of mind does come with a price.
And who better to negotiate it for you than a public liability insurance broker. Public liability insurance brokers are intermediaries who represent clients in the search, management, and execution of policy needs. They specialise in many forms of business insurance, helping to secure competitive policies that best address need. Looking for public liability insurance? Perhaps one of Canberra’s best brokers can assist! Read on to find out more.
What makes a great public liability insurance broker?
Great public liability insurance brokers are valuable members of your professional services team. They ensure your business is protected and assist in times of need. Here are some traits we find inherent in the finest public liability insurance brokers:
- All the right credentials. As with all financial services, qualifications and experience are key. All insurance brokers must hold an Australian Financial Services Licence and be either a Practicing Insurance Broker (QPIB) or Certified Insurance Professional (CIP). Ideally, your broker should also be diploma or degree qualified. Moreover, look for memberships with professional bodies, such as peak industry body the National Insurance Brokers Association.
- SME specialists. If you are a small to mid-sized business your needs will differ to those of larger enterprise clients. You may favour a more personalised approach, a single contact, or extra time for consultation. The same can be said for industry specific knowledge; and engaging someone who truly understands the pressures of running the show. Rather than be treated like a number, seek out insurance brokers who are SME specialists. The best public liability insurance brokers apply specialised expertise to navigate clients through the entire process. In doing so, they extract a firm understanding of each business, it’s nature of work, industry, and unique requirements. They also advise on appropriate levels of cover, along with any optional extras that are worth considering. Given the long-lasting implications of a single incident, seek an SME specialist broker adept in your business field.
- Masterful negotiators. Handling injury, accident, or damage claims is not for the faint of heart. In times of heightened stress, a technically sound broker with masterful negotiation skills can work to lighten the load. With numerous procedures to follow and just as many contact parties, a negotiating powerhouse can help to manoeuvre the process along. Indeed, their role in managing insurance claims is invaluable. As advocates for your cause, they will save you precious time and money, while ensuring your interests are protected.
- Buying prowess. When it comes to public liability insurance there are literally hundreds of insurers offering a multitude of policies and extras. Indeed, any one insurance policy can have several variations dependant on the channel of purchase. So, to keep your options open look for a broker with buying power specific to your needs. Consider those with access to national and international networks, along with those who can deliver solutions to challenging scenarios. Moreover, enquire with those who have access to exclusive rates as this increases chances of securing cost-effective policies.
- Walk the walk. Competitive sourcing and securing is one thing; knowing what to do in the event of a claim is another. Anyone who has dabbled in the fallout of a construction dispute will know just how draining it can be. Resolving via insurance is no mean feat, and it takes tenacity, serious negotiating prowess, and industry know how to execute. That is why finding a public liability insurance broker that does the heavy lifting for you is vital. When the time comes to call on a policy, the best public liability insurance brokers will be your right hand. While reviewing brokers, ensure you have a thorough understanding of the claims management services offered.
The best public liability insurance brokers in Canberra
RiotACT’s editorial team has combed through 20 years of on-site comments to compile a list of the most recommended businesses according to you.
To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on RiotACT and Facebook as well as maintaining a minimum average of 4/5 stars on Google.
For comprehensive public liability insurance and tailored advice that mitigates risk look no further than allinsure. Since their establishment in 2007, allinsure have focussed on delivering superior client service and fostering strong, long-term relationships. Their client-first culture has propelled them to the forefront of the industry, gaining recognition on a national scale.
In the 2020 Insurance Business Awards, allinsure were the proud recipients of two category awards and four excellence awards. Director, Peter Chamberlain, was also featured in Insurance Business Magazines 2021 Hot List.
As a corporate authorised representative of Insurance Advisernet, allinsure maintain their local ownership and presence, whilst leveraging buying power and product access. The team have also orchestrated favourable relationships with the industry’s major insurers, resulting in competitively priced tailored cover.
Boasting years of experience with business great and small; allinsure have considerable expertise in the management of business risk. Their partnership approach fosters innovative and strategic risk management solutions, providing business owners with real peace of mind.
allinsure’s public liability insurance solutions address accidental events involving third parties and their property. Such policies can cover the costs of investigating and defending business activities, through to settlement and compensation payments. For comprehensive public liability insurance, allinsure are hard to beat.
Kelsie English had this to say about allinsure on Google, “Quick and easy experience to be fully covered. My claim was also handled perfectly, and they took the stress of handling everything for me. Highly recommend using them.”
As a locally based licensed general insurance brokerage, Mezzanine Insurance specialise in the commercial sector. Their clients include businesses from all sectors and industries, from construction and trades, through to retail, informatics, hospitality and more.
The experienced team at Mezzanine Insurance focus on creating long standing mutually beneficial client relationships. Insurance services include public and products liability, workers compensation, professional indemnity, and director liability to name but a few. For tailored advice from commercial specialists look to Mezzanine Insurance.
Dan Savage shared this review on Google, “Stuart and the entire team at Mezzanine are a delight to work with. Professional, affordable, and prompt service. Our company have been with Stuart for many years and will continue to use and recommend his services for many more years.”
With a brokerage history that spans four decades, the MGA Insurance Group have built an enviable reputation across Australia. Here in Canberra, their team offers solutions that cover loss or damage to businesses large and small from public liability, to people, through to assets and management.
MGA believe claim outcomes are invariably tied to the quality of the products offered, subsequently placing emphasis on product selection. Whether you are a sole trader, small or medium sized business, MGA can provide insurance advice, recommendations, and options to protect your interests.
Gungahlin DailyMarket shared this review on Google, “Been a long-time client of over 10years. All issues are cleared in a timely manner. Great operators in Canberra, locally owned and operated. They fight for the best market rates, and annually reviewed, the teams at MGA make sure you a looked after and valued.”
Locally owned and operated, Ford & Associates offer insurance solutions and financial planning services to businesses. Their licensed team are authorised corporate representatives of Insurance Advisernet, providing access to a broad suite of products at competitive rates.
Offering the full stack of business insurance products, Ford & Associates can assist with public and products liability through to professional services and more. For insurance brokers who make it their business to understand yours, Ford & Associates are worth considering.
Mitchell Insurance Management are specialists in business and commercial insurance, supporting a range of varied industries and business activities. For business clients, they offer a one-stop insurance solution that protects both activities and assets.
The team at Mitchell Insurance Management work to tailor each insurance program with leading providers specific to client industry and needs. With a range of services from public and product liability through to workers compensation they are well placed to assist.
Collin D shared this great review on Google, “I have used MIM for my business insurances for the past few years. A great service all around with fantastic correspondence and have always provided very competitive prices.”
While on the topic of insurance brokers, you might also like our articles on the best insurance brokers, the best business insurance brokers, the best workers compensation insurance brokers, the best strata insurance brokers and the best construction and trades insurance brokers in Canberra.
For related business services see our articles on the best law firms, the best mortgage brokers, and the best chartered accountants in the region. Moreover, our articles on the best business advisors, the best bookkeepers, and the best business lawyers our region has to offer.
Your experience with public liability insurance brokers in Canberra
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