Public Liability Insurance Policy
February 22, 2012 – 10:11 amA friend is all excited about starting a new business. It is an F&B outlet that offers a new concept, according to him, and it is located in a posh area in town. I have yet to visit; it is already open for business but the grand launch will only be in March.
As a new player in the market, my friend is confident about his business and hopes that he could start turning a profit before the end of the year. I managed to have a short chat with him and discovered that he has no public liability insurance. He doesn’t even know there is such coverage!
Public liability insurance is a must when it comes to businesses which serve the public, like restaurants, irrespective of whether one has or has no experience in the business.
I once read about a local celebrity who also runs a popular restaurant in the city. A young diner was accidentally scalded with hot water by a newbie server. The parents of the victim took the restaurant owner to court and because the owner did not have insurance coverage for public liability, he had to pay damages from his own pocket. It was a hard lesson to learn!
*** This post has been sponsored.
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