Accidents don’t send notices before they arrive. They happen suddenly, often in ways that business owners never anticipate. Recently in Accra, customers at a popular shopping centre had their cars damaged after solar panel sheds collapsed. Thankfully, no lives were lost.
But the big question lingers: Who bears the cost of the damage?
For many businesses in Ghana, the honest answer is the business owner. And in a country where many businesses operate with tight margins, that single incident could mean financial ruin.
This is why Public Liability Insurance is not just an option, but a necessity.
What is Public Liability Insurance?
Public Liability Insurance is designed to protect businesses when third-party customers, suppliers, or even passersby suffer injury or property damage due to a business’s operations or negligence.
In simple terms, if your business activities cause harm to people or their property, liability insurance steps in to cover compensation claims and legal costs. Without it, the burden falls directly on the business owner.
The Everyday Risks Around Us
It is easy to assume that serious accidents only happen in “big” establishments like malls or factories. But the reality is that liability risks surround us daily, in both small and large businesses.
- A restaurant in Kumasi leaves its floors wet, and a customer slips, breaking a leg.
- A mechanic in Takoradi accidentally injures a customer or damages his car
- A boutique in Tamale loses its signboard in a storm, damaging a vendor’s goods.
- A hotel guest slipped in the bathroom and fractured an ankle.
- A waitress in a café accidentally spills hot tea on a customer, causing burns.
Each of these could trigger costly lawsuits or demands for compensation. The amounts claimed could be crippling, especially for smaller businesses and one may have to spend a lot on legal services even if they have a defence against the claim. The increasing availability of legal services also makes it easier to sue now than it used to be.
Why Small Businesses Are Most at Risk
There is a common misconception that insurance is only for large organisations. In fact, small businesses are often the most exposed.
Unlike large corporations, SMEs and micro businesses rarely have cash reserves to handle unexpected liabilities. A single compensation claim, be it for medical bills, property repairs, or legal costs, can wipe out years of hard work.
Consider the street vendor, salon operator, or small food joint. If a customer is hurt due to faulty equipment, contaminated food, or a collapsed canopy, that business may not survive the fallout. This is where public liability insurance becomes a lifeline rather than a luxury.
A Solution for Ghana’s Entrepreneurs
Recognising this gap, Hollard developed the Asomdwee MSME Insurance, a product specifically designed for small and medium-sized businesses in Ghana.
Asomdwee MSME Insurance doesn’t just provide public liability cover; it offers a package of protections tailored to the everyday realities of Ghanaian entrepreneurs. It is affordable, flexible, and designed to keep small businesses resilient against risks that could otherwise force them to close their doors.
With Asomdwee MSME Insurance, the food vendor in Accra, the seamstress in Cape Coast, or the boutique owner in Tamale can run their businesses with peace of mind, knowing that if the unexpected happens, Hollard has them covered.
More Than Buildings and Accidents
Liability insurance is not only about physical structures or major accidents. It covers:
- Compensation for injuries to customers and other third parties
- Medical expenses for affected parties
- Accidental damage to third-party property
- Legal defence costs in liability claims
In today’s increasingly litigious environment, even a seemingly minor accident can snowball into a significant financial burden. Having the right cover transforms risk into resilience.
What Business Owners Should Do
- Assess Your Risk: Think critically about how your operations interact with customers and the public.
- Seek Expert Advice: Insurance professionals can guide you to the right level of cover for your specific business.
- Build a Safety Culture: While insurance provides a safety net, good practices help reduce the chances of accidents.
The recent shopping centre incident in Accra serves as a powerful reminder that accidents can happen anytime and anywhere. When they do, the question is not just about repairs and survival.
For Ghana’s business owners, particularly SMEs, Public Liability Insurance is more than a policy. It is protection for your livelihood, your reputation, and your future.
With Hollard’s Asomdwee MSME Insurance, you don’t have to wait for disaster to strike. You can build your business confidently, knowing that Hollard is taking care of the risks while you focus on growth.
Don’t gamble with your business dream—protect it today.
By Aviel Benni Derry
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