This is a diverse area of activity. It is strongly recommended that each company operating in this growth area looks closely at the type of clients they are working with and seek to understand fully the requirements and obligations of their businesses They should then tailor their own insurance needs accordingly. In addition newly formed companies often look for business support to help them develop and in such cases cash flow and credit coverage needs special attention.

Office Insurance

This is an "off the shelf" contract covering the most common insurance needs for an office based or service company. A typical policy covers the office Buildings/Contents, Employers Liability, Public Liability, Products Liability, Business Interruption, Book Debts, Money, Glass and Business Equipment away from the office. For larger companies it is sometimes better for these sections to be separately insured with a specialist insurer.

Employers Liability

Since 1969 the Employers Liability (Compulsory Insurance) Act has required every employer carrying on a business, trade or profession to take out and maintain insurance against liability for bodily injury or disease sustained by their employees, and arising out of, and in the course of their employment. The minimum requirement by law is £2 million. However, in practice insurers do not issue policies in the UK for less than £10 million.

Public/Products Liability

The purpose of Public/Products Liability is to indemnify the policyholder under their legal liability, should they or their products cause death, bodily injury and loss of or damage to material property to a third party or parties. Cover can be arranged for goods and services sold in the UK and/or on a Worldwide basis. This cover can often be the most important section for any business as often the "buck stops here" and not having the right cover could cause financial ruin with the sheer number of claimants or the extreme awards now being made by the Courts.

Engineering

Plant and Machinery such as Lifts and Air Receivers or other similar equipment have a statutory requirement for the plant to be inspected. Insurance cover for the equipment, the damage that is caused on failure and the statutory inspection is available under a single policy.

Business Interruption

A Fire, Flood or other such disaster can cause financial ruin for any business. Whilst Insurers will pay for the repairs to the premises or replacement equipment, full insurance coverage for consequential losses following any such disaster can be vital to ensure the continuance of the business and consideration should be made to protect the Gross Profit or to buy cover for Increased Cost of Working or a combination of both.

Directors & Officers Insurance

The Companies Act 1985 alone sets out more than 200 offences for which a director can be personally liable. Add to this the numerous other offences under Health & Safety, Environmental and Financial Services Acts and you can see the importance to effect cover. The policy protects the personal assets of company directors and officials.

Legal Expenses

Commercial Legal Expenses Protection is becoming increasingly important to small to medium size businesses. This policy provides access to expert advice and assistance in resolving a number of different areas and if necessary will pay for the cost of legal fees and/or accountancy fees to conclude the dispute. Typical areas of cover, which often can be bought as a package, are Contract, Employment, Data Protection, Criminal Prosecution Defence, Property Protection and VAT Disputes. For larger companies cover is available for specific areas only.


Cover can also be obtained for "After the Event" Litigation. A range of solutions are available for those who wish to pursue their legal rights through litigation.

Crime/Fidelity Insurance

It is possible to provide cover against the dishonesty of your employees for the misappropriation of company monies or other commercial property. Extensions in cover can include ex employees and employees of out-sourced companies. Traditionally cover under this policy has not been available for theft from non employees. However, now with the increased dependency on computers and in particular access via the Internet wider cover is available.

Professional Indemnity Insurance

Cover is available to protect the company from acts of negligence, errors and omissions from any member of staff. This provides protection should any of your customers suffer a financial loss following a claim. Dishonesty of Employees, Unintentional Breach of Copyright, Libel and Slander can also be included.

Internet/Cyber Liability Insurance

This is a new contract, which is becoming increasingly important. There are three levels of cover available depending upon whether the website is used as purely an advertising medium, an interactive website or you are involved in the formation/design and implementation of the site. Protection for fraud, hacking, viruses, infringement of data protection and privacy laws, copyright and libel and slander are the core covers. Additional covers are available depending upon the involvement of the website.

Computer Insurance

With some businesses there can be a heavy reliance on computers. Specialist policies are available to cover the equipment whether within the premises or anywhere in the world. The Material Damage policy can cover the value of the equipment plus the labour and the computer time incurred in reinstating the data, but excludes any costs incurred in research or formulating the data which has been destroyed. If protection for research and development is needed the full Reinstatement Of Data cover is required. Cover can also be obtained for Accidental and Malicious erasure of software and data and also Breakdown.

Credit Insurance

Every company who allows credit to customers expose themselves to bad debts should the customer fall into liquidation. Cover for all customers or specific accounts are available.

Motor Insurance

Motor insurance is a legal requirement under the Road Traffic Act and as such all companies that own or operate vehicles require cover. Polices are available on single, multi-vehicle or Fleet Basis.

Employee Benefits

Click here for details of the various types of Employee Benefits available.