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Commercial liability insurance

Commercial liability insurance in Switzerland

Do you run a business in Switzerland? In many industries, commercial liability insurance is mandatory, in others, it is highly recommended.


Don’t take unnecessary risks

Commercial liability insurance protects your company from the consequences of damage that you, as an entrepreneur, your business, employees, business buildings, equipment or products may cause. Insurance covers both personal injuries and property losses.


Often, the risk of incurring such injuries and losses in the course of business is hard to assess. The compensation amounts may increase rapidly, even though the claims are not always justified. Commercial liability insurance protects you from unfounded claims by third parties.


You can tailor an insurance package to suit your industry, company size, and business needs. Such commercial liability insurance provides basic coverage for any company and additional benefits one can choose from a flexible offer.


Who and what can be insured?

Commercial liability insurance covers any financial claims against your business under third-party liability laws. It also pays the costs of necessary expert opinions, legal advice and litigation. Reasons for using commercial liability insurance may be various.

Here are some examples:

  • Faulty execution of the order or errors in performance, e.g. damages to a designer sink or mirror caused by an employee while cleaning the customer’s bathroom.
  • Incidents that may happen on your premises, e.g. an injury suffered by a customer slipping on a freshly mopped floor in your store.
  • A damage caused by an unforeseen natural event.


What about mandatory insurance?

Since the dues for damage caused by entrepreneurs, especially personal injury, can quickly hit millions of Swiss francs, commercial liability insurance is mandatory in some industries. It is perhaps the most important type of insurance in the business sector – without it, running a business can turn into a dangerous game.


In many cases, it is advisable to purchase not only basic insurance but also supplemental benefits. These include technical or business interruption insurance.
 

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