When you complete a Public Liability Insurance proposal form, it will ask “Do you have any contracts to be designated?” What does this mean?
Generally your insurer will provide indemnity to your business in respect of liability
that may be assumed under Incidental Contracts.
You may however be asked by a supplier or landlord to waive your right to sue or even extend the coverage to them as an interested party.
If you have signed a contract like this without advising your insurer you may have entered into contracts with the undernoted parties and this maybe outside your polices coverage.
An example can be found in many lease agreements
“The Tenant uses and occupies the Premises and the Building at its own risk and releases the Landlord from all claims resulting from any damage, loss, death or injury in connection with the Premises except to the extent that such claims arise out of the Landlord’s negligence”
Contractual Liability Coverage for designated contracts only may available so we suggest you should discuss it with your broker.
Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs