News - QBE Purpl Product

QBE launches PURPL, Australia’s first integrated product providing
Public Liability, Product Liability & Financial Loss Cover

QBE Insurance Australia has launched PURPL, a new packaged insurance product that provides public liability, product liability and financial loss cover to help protect businesses from a wider range of risks. QBE’s PURPL (Packaged Underwritten Risk and Professional Liability) product integrates six types of liability insurance into one policy to provide businesses with affordable, comprehensive cover:
1. Public Liability
2. Product Liability
3. Advertising Liability
4. Professional Services
5. Directors & Officers Liability
6. Employment Practices Liability.

“PURPL was developed in response to the changing business environment in which
companies face increasing risks and compliance demands,” said Michael Scala,
General Manager – Intermediary Distribution, QBE Insurance Australia. “In particular,
small to medium-sized businesses (SMBs) need to protect themselves against
potentially expensive liability claims that can impact their financial health and reputation
significantly.”

PURPL is ideally suited to businesses that provide consulting or design services along
with their product sales; for example, companies in the retail, wholesale or
manufacturing industries. These companies may not be aware that their existing
liability insurance may not cover their designs or advice, leaving them exposed to
potential claims. For instance, a hardware store that provides advice on how to erect a
shed that it sold could face a claim if the customer follows that advice and the shed
collapses because it was erected incorrectly.

As all six types of liability cover are provided in one policy from one insurer, a PURPL
policy is quick and easy to purchase and maintain since there is one quote, one
application, one premium, one renewal and one claims process. This makes PURPL
more affordable and attractive for SMBs than purchasing each type of liability cover
separately.

More information about
PURPL can be found on the website: http://www.qbe.com/australia/prolib/purpl.html
Ends

** Please contact Statewide for further information, or to see if your business suits the Purpl product.