CORPORATE & MID-SIZED
cOMMERCIAL bUSINESSES

INSURANCE COVERS

A sample of the main insurance covers we provide

We’ve included a concise explanation of each area of cover and how it works below. This is a small sample of the most common covers we provide, if the cover you require isn’t listed get in touch with our team. This is only a small sample of the covers we provide, you can also access a digital version of our full insurance covers guide here.

We will always ensure you are covered for almost all situations, however if there’s a risk unique to you, please contact us and we will try to devise bespoke protection to meet your individual needs.

• Building & Property Insurance

  If you own a commercial building of any kind, whether tenanted or used a base for running your own business, protecting the bricks and mortar is essential.

  Building insurance usually provides cover against flood, fire, storm damage, subsidence and theft. We can place cover for single commercial properties or commercial property portfolios. Cover can be extended to include Debris Removal, Builders Risk Insurance and Glass Insurance.

  Contents insurance cover will protect what is inside the building including fixtures, fittings and items such as furniture and computer equipment.

• Business Interruption Insurance

  Business Interruption cover can protect your business from interruption costs following an insured event such as a fire, flood or breakdown of essential equipment. Damage to buildings and/or equipment can be incredibly costly to your business even if these are covered under a building and contents policy, due to the interruption caused to normal trading and operations. Business interruption insurance can cover the costs of employee wages, renting of alternative premises and other overheads during the period covered in your policy.

• Employer's Liability Insurance

  As a corporate or commercial business, you are legally required to have Employer’s Liability cover at a minimum level of £5 million but for larger organisations our insurers offer £10 million as standard and our brokers can place much higher levels of indemnity.

  Employer’s Liability insurance will cover the cost of compensation to an employee as the result of an injury, illness, disease or death sustained because of their work. It will also cover the cost of legal expenses incurred whilst defending a claim.

• Public Liability Insurance

  Public Liability Insurance will protect you and your business against compensation claims or the cost of legal action taken against your business if a third party is injured whilst on your premises. Cover can also offer protection for third party injury or property damage whilst work is carried at a client’s home or business premises.

  Public liability claims can range in severity from slips and trips or property damage to permanent disablement and death, therefore it’s crucial your business has adequate cover for third party liability claims.

• Product Liability Insurance

  Product Liability Insurance is designed to cover the cost of compensation to anyone who is injured, or whose property is damaged by a faulty product.

  Sellers of goods at all levels (manufacturers, intermediaries and retailers) in the supply chain may incur liability to their customers and others for death, injury, illness of damage to their property caused by defective goods.

  Product Liability Insurance includes cover for compensation payments and any associated legal costs, but will not cover the cost of replacing the defective product itself.

• Director & Officer's Insurance

  Directors and Officer’s Insurance covers a wide range of scenarios: from the legal costs and damages where, actionable mistakes have been made, through to arranging and paying for legal representation throughout lengthy and expensive official investigations.

  Increased focus from regulatory bodies will require that you protect your key personnel against any legal action taken directly against them. Claims where a director’s personal liability could be questioned might arise because of investors or shareholders blaming the decisions of directors for their losses or perhaps because of an investigation undertaken by regulators.

• Professional Indemnity Insurance

  Professional Indemnity Insurance (PI insurance) protects against financial losses from liability claims made by a client against an individual for alleged errors relating to their professional work.

  If your advice or service fails to meet the expectations of a client, you or your business may be faced with a claim of negligence and be held liable for any loss or damage caused.

  PI insurance typically covers liability for injury, damage or financial arising from a breach of professional duty carried out in good faith, professional negligence due to errors or omissions in work, copyright infringement and loss or damage to client documents.

  Any business or sole trader providing professional consultancy services, advice or design work to clients is strongly advised to take out a Professional Indemnity insurance policy. PI cover is also mandatory for members of some professional bodies and is required by some regulators. This includes solicitors, financial advisers, accountants, architects and some healthcare professionals.

• Trade Credit Insurance

  Trade Credit Insurance is also known as business credit insurance, export credit insurance, or credit insurance. This cover protects businesses accounts receivable from loss due to credit risks such as protracted default, insolvency or political risk whether in the UK or overseas and will significantly improve your overall Credit Management.  This essentially means if your debtors fail to pay, you are protected by your policy.

  Learn more about Trade Credit Insurance here

• Cyber & Crime Insurance

  Cyber insurance is designed to help your business offset the costs of recovery after a cyber-related security breach, ransomware attack or similar event. A comprehensive cyber policy will cover you for the direct costs and liability to third parties following a cyber-attack. However, policies often exclude financial or asset losses incurred by your business following an attack.

  Crime insurance protects your business against the financial losses incurred because of fraudulent activity (many policies include cyber events); criminals (including cyber criminals and employees) taking or misappropriating money, securities or property such as funds taken from your account.

  Learn more about Cyber and Crime Insurance here

• Vehicles & Motor Fleet Insurance

  We can insure single motor vehicles or a fleet of motor vehicles under one policy. Fleet insurance is available for all types of businesses and vehicles, which can all be covered under one policy. Vehicles that can be covered by fleet insurance include (but are not limited to) cars, vans, trucks and minibuses.

  Motor insurance protects your employees, your vehicles and other motorists against liability claims if an accident occurs, and provides financial compensation to cover any injuries to people or their property.

• Marine Cargo & Goods in Transit Insurance

  For the duration of a journey marine cargo or goods in transit will cover the loss, damage or theft of cargo between the points of origin and destination. When moving or shipping goods it covers against loss or damage while in your vehicle or when being transported by a third-party carrier. The sum insured may be a limit for each package, each vehicle or any one consignment.

  Goods in Transit also known as Marine Transit Insurance covers the loss, damage or theft of cargo between the points of origin and destination. It covers goods against loss or damage while in your vehicle or when sent by a third-party carrier. The sum insured may be a limit for each package, each vehicle or any one consignment.

• Terrorism Insurance

  Terrorism Insurance protects losses and liabilities caused by damage to property, resulting from terrorist acts.

  A commercial terrorism insurance policy covers damaged or destroyed property—including buildings, equipment, furnishings and inventory. It may also cover losses associated with the interruption of your business.

  Standard property and casualty policies exclude terrorism, but this can be separately purchased either as a standalone policy or extension to existing cover.  Policy covers can include sabotage and terrorism, riots, strikes, civil commotion, malicious damage, political violence, terrorism construction, third party liability and employee liability, loss of attraction and event cancellation.

• Accident & Illness Protection

  Employers or individuals can purchase this type of insurance protection.  The policies may pay either the employer (if they are the policyholder) or the individual compensation should they or one of their employees be unable to work because of Accident and Illness.

  Policies usually cover temporary total disablement because of accident or illness. So, incidences where the insured is expected to recover. Benefit in these cases are usually paid as a daily or weekly benefit.  In addition, Lump Sum benefits may be payable for Permanent Total Disablement (for example loss of sight, loss limb and even death).

• Private Medical Insurance

  Health insurance or Private Medical Insurance (PMI) is a type of insurance that covers the insured individual’s medical costs and surgical expenses. Depending on the type of health insurance coverage, either the insured pays cost out of pocket and receives reimbursement, or the insurer makes payments directly to the provider.

  Policies can be purchased to cover specific conditions only, so for example, dental treatment, surgical procedures only, orthopaedic treatment or cancer treatment.

  There are a wide range of Private Medical Insurance products and Healthcare Plans available.

  Policies can be purchased by an employer, as an insurance scheme, to protect the health and wellbeing of their employees (many employers offer Private Medical Insurance as an employment benefit) or by individuals and families.

  Learn more about Private Medical Insurance here