What is Statutory Liability insurance?

Statutory Liability insurance covers the company, senior management and employees for allegations of wrongful breaches of key legislation in the course of the insured’s business. The policy will meet fines and penalties payable in specified circumstances and related legal expenses.

Statutory Liability insurance

What does Statutory Liability insurance cover?

What is covered

Costs and expenses from official investigations and inquiries

What is covered

Pollution Liability defence cost 

What is covered

Fines and penalties

  • Civil liability
  • Wrongful breach of air, marine or motor traffic regulation
  • Dishonest, wilful, intentional or deliberate wrongful breach
  • Gross negligence or recklessness
  • Joint ventures
  • Prior or pending claims
  • Criminal offences   
  • Asbestos
  • Fraud and dishonesty
  • Failure to comply with law enforcement
  • Requirement to pay taxes, rates, duties, levies, charges or fees
  • Pollutants
  • Property damage

The 3 industries who purchase Statutory Liability most:

Statutory Liability is suited to a wide range of industries and occupations in addition to the ones listed above.

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How much does Statutory Liability insurance cost?

Statutory Liability insurance costs can vary based on your industry, business operations, insurance requirements and other factors. Every business is unique, and so is the type and cost of its policy.

Get cover that works with the risks of your business

You can select from different levels of cover.

This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.

Underinsurance

We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.

Ways underinsurance catches business owners out:

Inflation

With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.

Not covering the full cost of your risks

If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.

Get cover that works with the risks of your business

You can select from different levels of cover.

This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.

Flexible Cover

Pick from 3 levels of Statutory Liability cover

Unsure how much to choose? Think about:

Statutory professional requirements

Your business size

Nature of your business operations

State jurisdiction

Worst case scenario claim size

Underinsurance

We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.

Ways underinsurance catches business owners out:

Inflation

With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.

Not covering the full cost of your risks

If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.

See how much others have saved while purchasing policy through BizCover

Colette

Disability Care Worker from

NSW

Saved

$1,200

on

Public Liability and Professional Indemnity insurance

Disability care worker
Andrea

Beautician from

VIC

Saved

$1,500

on

Business insurance Pack and,
Public Liability and Professional Indemnity insurance

Andrea, Beautician saved $1,500 on Professional Indemnity, Public Liability and Business Insurance
Deborah

Cleaner from

VIC

Saved

$3,600

on

Public Liability insurance

Cleaner from VIC saved on Business Insurance with BizCover
Lance

Electrician from

ACT

Saved

$800

on

Public Liability insurance

Electrician saved $800 on Public Liability insurance
Stephen

IT Professional from

VIC

Saved

$1,500

on

Information Technology Liability insurance

IT Professional saved on IT Liability with BizCover
Linda

Restaurant owner from

NSW

Saved

$1,000

on

Business Insurance Pack and
Public Liability insurance

Restaurant owner saved in Business Insurance with BizCover

Frequently asked questions

If your business is at risk of fines or penalties from breaching Australian laws or regulations, you may consider Statutory Liability. For example, if you own a construction business, you could be at risk for not meeting on-site safety standards. Statutory Liability insurance helps cover legal defence costs and associated fines, so you’re not left out of pocket if something goes wrong.

More types of cover

Professional Indemnity Insurance
Business Insurance
Business Insurance
Management Liability Insurance
Management Liability
Public Liability Insurance
Public Liability insurance
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