"It's worrying to see public liability claims are steadily increasing year on year, likely a knock-on effect from current financial pressures and the rise of fraudulent claims."
"It is positive however to see companies respond with growing demand for public liability cover. It's vital for companies to protect themselves and their assets. Business insurance covers all sorts of risks, such as disgruntled customers or damage to the business premises."
"It is important though for businesses to be careful not to accidentally invalidate their policy, it's not uncommon for providers to deny claims if they feel the agreed terms have not been met."
Public liability claims across England, Scotland and Wales have risen significantly, with CRU figures showing 58,933 claims in April 2023–March 2024 and over 64,423 in 2024–25. Demand for public liability policies has increased, with Quotezone reporting a 30% spike from Q1 2023 to Q1 2024 and a further 14% rise to Q1 2025. Nearly one in five businesses suffer a major disruption each year, and 80% of those close within 18 months. Business insurance protects property, staff, reputation and the public. Insurers can deny claims if businesses fail to meet policy terms or do not inform providers of changes.
Read at London Business News | Londonlovesbusiness.com
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