Fact Checked

What is Market Trader Public Liability Insurance?

A. Leverkuhn
A. Leverkuhn

Market trader public liability insurance is a term that has several different meanings in the various English-speaking nations of the world. Where U.S. citizens might think of this insurance term as related to intangible financial activities, market trader public liability insurance in Britain and the United Kingdom relates to actual physical marketplaces and the "stallholders" who operate there. Understanding how this term is used in different countries will help individuals recognize some significant trade differences on either side of the Atlantic Ocean.

Professionals who are talking about market trader public liability insurance are probably referencing the specific kinds of public liability insurance that European or U.K. business people get in order to operate physical stalls or kiosks in a public market. This specific type of public liability insurance protects the stallholders from any kind of litigation based on an injury happening at or around the stall, or any other liability, such as product liability. In these regions, where public markets are a thriving part of the agricultural trade, market trader public liability insurance is an important part of the general equation for these small physical markets.

Businesswoman talking on a mobile phone
Businesswoman talking on a mobile phone

Although cities and towns in the United States also have these small markets which are often called farmer’s markets, an insurance policy covering activities related to physical selling would most likely be called something else like “small business public liability insurance.” Likewise, those whom the U.S. financial community considers market traders, i.e. stockbrokers or money managers invested with the ability to trade money for clients, would take out policies that might be called broker’s public liability insurance. As a result, the phrase, market trader public liability insurance, does not much factor in to the U.S. insurance industry.

Those who want to purchase an adequate public liability insurance policy for their business can get more detailed information on up-to-date policy and coverage terms from professional insurance brokers or providers. Business people looking for coverage for their small business can access policies either through individual insurers and their representatives in sales and customer service departments, or through third-party brokers who will look at various offerings that help clients to get the best public liability insurance rates. Insurers will often tailor a policy to a specific small business and all of its various operations to cover any liabilities from public injury to malfunctioning or defective products.

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