Statutory Liability

Proceedings can be costly and high profile, particularly when details of alleged wrongdoing are made public, and may lead to heavy fines, enforceable undertakings or reputational harm.

Liberty’s “Business Practices Policy” (BPP) covers the Insured’s legal liability arising from the receipt of a written or verbal notice from a regulatory authority which alleges a wrongful breach of legislation, and imposes a penalty that the Insured is liable to pay.  Subject to the terms and conditions, BPP pays on behalf of the Insured its costs arising from a written legal obligation to attend an Inquiry in connection with the business.

Liberty’s BPP policy is unique in being a claims-led product, so it has the ability to showcase Liberty’s Claims Value Proposition to clients at a time when they need it the most.