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| publicproductliability |
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| publicproductliability |
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| Public &/or Product Liability Insurance | - Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage;
- Minimum amount of 20 million dollars Australian for any one occurrence; Coverage amount to be recorded; If less than 20 million (AUD) the policy is to be returned
- If the policy amount is not in AUD a conversion at the time of processing is to completed to ensure the non AUD amount is greater than the 20,000,000 AUD amount
- Insurance must be current
- If the company supplies a 'requires approval' policy type (as listed in below table) a Product Disclosure Statement (PDS) is required before escalation.
- If PDS states Public Liability coverage – the insurance and PDS needs to be uploaded together for approval
- If the PDS does not specify Public Liability it will be escalated
Note: Insurance types can be listed in the limit section of the policy. E.g. under the Class or description it may refer to General Liability however under the limit or interest insured section if it refers specifically to an accepted type listed above this would be deemed acceptable. Accepted Types | Requires Approval | NOT Accepted |
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Public Liability Public and Products Liability Broad form Liability | General Liability Business Liability Legal Liability Umbrella Liability | IT Liability
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| - Issue Date = Start of coverage date listed on policy
- Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly
- basis the expiry will be set when the next payment is due)
- Insurer = Insurer will be listed in policy content
- Policy Number = as specified on the policy
- Item = Type of of coverage / policy (i.e. Public & Products Liability, Public Liability)
- Amount Description = Same as item
- Amount = as specific on policy (must be minimum of 20 million (AUD) or equivalent)
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