Does an ISR or Defined Perils policy include Legal Liability Cover?
No. Legal liability insurance is a separate insurance cover however, it is usually possible to have the same insurance company as the one providing the property cover to also provide the legal liability cover. Insurance companies often combine a number of ancillary insurances to their commercial property insurance products into a convenient type of ‘package’. Often theses products are given catchy names like ‘Biz Pack’ or ‘Comm Pack’ or ‘Farm Pack’ however, for the reasons mention earlier not every underwriter’s product will cover every risk associated with a commercial property. However, in most cases where the property has a value of less than $2.00M and/or is considered a complex risk then, the simplest and most effective insurance cover can usually be provided under an insurance package. Legal Liability insurance; sometimes referred to as Public Liability Insurance and/or Third Party Liability Insurance and/or Broadform liability Insurance, is an essential part of any property insu
