CBD Insurance Services is Australia’s most trusted insurance provider and is the number one choice for statutory insurance for your company.
Our agents specialise in Statutory Liability Insurance and will ensure you have the necessary protection in place to protect you against any type of a lawsuit that may arise.
Why You Need Statutory Liability Insurance
Considering that most business people are not aware of every statute and law, there is a high probability that they will, at least one time, violate statutes without willingly doing so.
Regardless of your intentions, there are individuals and organisations that may sue you for making the wrong decision.
When this occurs, you will need to find an expert in statutory liability cases, and you should also get this type of liability insurance to protect you and your business.
This is where CBD Insurance Services can assist you by providing you with a Statutory Liability Insurance policy to give you the protection you need.
This type of insurance will cover the legal fees associated with this type of lawsuit.
Why Choose Us?
- One of the many advantages of working with CBD Insurance Services is that you don’t need to read through every single type of policy. We do all of the hard work for you and connect you with the policies that you need.
- We provide the best solutions for you by analysing your risks, measuring the likelihood of them occurring, and then determining the consequences should these risks come to fruition
- Our expert team pride themselves in taking time to build relationships with each client, and ensure that everyone is treated individually as a person, not just a number
- We are professional and trusted consultants and have over 35 years of experience specialising in a broad range of insurance solutions
- Our qualified professional advisers help you to understand exactly what policies are needed to mitigate the specific risks your company faces
- We are aligned with some of Australias highest regarded experts in their field, we work with these experts every day
- Our mission is to create a SYSTEM for you, which is an acronym for Save Yourself Stress, Time, Energy and Money
- We can develop premium pricing structures to suit your budget with options to suit all circumstances
- We insure people, not just business risks and will make sure that you don’t lose the benefits of all your hard work because of a single mistake, accident or illness.
- We have worked alongside some big names such as Garry Harvey, Amanda Keller and International Filmmakers Scott and Kerry Hicks
- Our friendly support staff will respond promptly to any queries you may have.
What You Should Know About Statutory Liability Insurance
By definition, statutory liability references illegal decisions that go against laws that cannot be open to interpretation.
Put simply, there are situations where business owners will make decisions that are illegal without knowing what they have done.
This tends to be related to making poor decisions related to environmental laws, health and safety laws, and laws that reference employment statutes.
Although an attorney would be able to accurately interpret what the law means, the average person may not.
It is for this reason that Statutory Liability Insurance is made available for those operating a business in Australia and New Zealand.
This type of coverage can protect those that have breached statutes related to:
- The Fair Trading Act
- The Human Rights Act
- Resource Management Act
- The Sale and Supply of Alcohol Act
- Health and Safety
This type of coverage will not have to cover statutes that have been excluded. This will include statutes that relate to:
- The Transport Act 1962
- The Aviation Crimes Act 1972
- The Arms Act 1983
- The Crimes Act 1961
The Benefits of This Type of Insurance
Today we live in very a litigious society, one that can lead to very expensive lawsuits however, these will be covered by a statutory liability policy.
That’s why working with a professional insurance agency that offers Statutory Liability Insurance is critical.
For example, there may be situations where you have inadvertently breached certain laws and acts, as well as different types of legislation.
There might be a situation where you may have made a decision that goes directly against the Environmental Protection Authority legislation, or employment practices laws.
Or, you might also unconsciously violate workplace health and safety acts, as well as spam and privacy laws.
Therefore, the benefit of having this type of insurance in place is that it will cover you if you happen to make these breach any of these laws.
As long as it can be proven that you did not willingly break any of these laws and acts, there are certain penalties you may be able to avoid.
What Type of Coverage Does This Policy Provide?
Statutory Liability Insurance is a great example of a business insurance policy that is seriously important, yet often overlooked by many business owners.
As mentioned above, business owners have certain obligations when it comes to workplace safety and health.
There are a variety of confusing laws on the subject and they are frequently updated.
Business owners therefore face the risk that may not be up to date with a certain law, thus leading to an accidental breach when an employee is hurt on the job.
The purpose of Statutory Liability Insurance is to protect the business owner if the business unintentionally violates one of the laws relating to workplace safety or health.
It can cover the costs required for the investigation, protect against liability claims, and cover the fines that the business accrues due to the violation.
This seems like an obscure form of insurance for many new business owners and is therefore often overlooked entirely.
After all, it seems like the real solution is to stay up-to-date with all health and safety regulations. However, this is not as easy as it sounds.
It isn’t until business owners make that one simple mistake that they realise just how important this type of policy is.
Why You Should Contact CBD Insurance Services
Does your company need Statutory Liability Insurance? We can help you answer that question with a free risk analysis.
Our experts CBD Insurance Services has been offering Statutory Liability Insurance for decades.
We will be able to let you know whether or not investing in this particular type of business insurance will help protect your future or whether there are other solutions.
These types of policies are comprehensive enough to accommodate the needs of individuals that are currently experiencing this type of legal action.
You may not even understand why someone is suing you however, Statutory Liability Insurance will protect you in this situation.
This will help to pay for legal fees and costs that add up quickly when trying to defend yourself or your business.
This is where CBD Insurance Services can help you come up with the most suitable solution to mitigate these risks.
How to Assess and Evaluate This Type of Policy
Evaluating a Statutory Liability Insurance policy can be much more comprehensive compared to other types of insurance.
It is so easy to inadvertently make decisions that may go against certain laws and acts that have been passed.
Most of these will typically involve workplace safety, employment practices, and environmental issues.
There are some policies that will also provide privacy and spam law coverage.
As long as the policies provide defence costs, statutory penalty coverage, and a number of positive cover extensions, you should be adequately covered.
Whether you are accused of making a wrong decision during an audit, or if you simply need work assistance to return to the job, these policies can cover you when making poor decisions.
Although you may not realise that you have made a poor decision, you will certainly understand this when you are faced with a lawsuit.
Those that are well versed with the laws and regulations related to businesses in Australia will be the first to point out the mistakes you have made.
If your decisions have somehow adversely affected their business or broken laws and acts that have been passed, this protection will be very helpful for you.
For an obligation-free, competitive quote, professional insurance advice or more information on how we can help you, please contact one of our expert consultants today on (08) 8357 1422 or send a message through our website:
https://cbdinsuranceservices.com.au/contact/.
