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| publicandproductliability |
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| publicandproductliability |
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| Insurance.Liability.Public and / or Product | - 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 then 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
Accepted | Requires Approval | Not Accepted |
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Public Liability Public and Products Liability Broadform Liability | General Liability Business Liability Legal Liability Umbrella Liability | IT Liability |
Self Insurance - If the company indicates 'Self Insured' = Letter to be uploaded from the governing body which has approved the self insurance;
please click on the following link to see the current list of approved Self Insured companies in Australia: http://www.srcc.gov.au/self_insurance/current_licensees.
| - 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, Broadform Liability, General & Public Liability
- Amount Description = Same as item
- Amount = as specified on policy (must be minimum of 20 million AUD or equivalent
| Accepted: Limit of Liability: - Public Liability $20,000,000
- Public & Products Liability $20,000,000
- Broadform Liability $20,000,000
Not Accepted: Limit of Liability: - Public Liability $10,000,000 Product Liability $10,000,000
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