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What insurance cover would my company need?

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  • 08-06-2012 11:30pm
    #1
    Hunter21
    Registered Users Posts: 690 ✭✭✭


    I've just won a distribution contract to be the official reseller of a product in Ireland. It is not available in Ireland by any company yet but is in the uk.
    It is a security device, I won't disclose anymore yet.

    As I am not manufacturing the product will I still need product liability insurance?
    Even if all the precautions, word of warnings and installation are checked out by lawyers and the likes to make sure people understand to some degree.
    Surely once I sell the product I have no control what they do with it as they have all the warnings written in front of them.

    Also I presume I will need professional indemnity insurance incase I sell something to someone without giving them a reason for why I requested they buy this or that and "X" amount of them items.

    Also I will have no big stocks in storage and I will be working from home.

    What other forms of insurance might I need and why?

    Hope ye can help.


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    #2
    Lantus
    Registered Users Posts: 3,027 ✭✭✭Lantus


    I would talk to an insurance company who would be better placed to advise you.

    Public liability is probably what you would need as a basic for any activites in the outside world. If you ever go to someones house and knock over their ming dynasty then PL protects you. The same if you accidentally hurt someone.

    Professional indemnity is more about advice given. for example you tell someone to follow a routine of locking and unlocking every door 3 times a day (silly I know) and they get injured or develop arthritis as a result or repetative strain injury or whatever. They could sue you for bad advice.

    This generally only applies to very specific trades like legal or service, medical etc. If your just supplying a 'device' then the manufacturer will provide the guidance and fitting instructions.


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