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Running your own business often means you find yourself solely responsible for every aspect of the operation. You may be a contractor, sole-trader, freelancer, work for, or be the proprietor of, a small business.
You are busy so time is precious. When it comes to insurance protection, you’ll need the help of an expert to shop-around, compare quotes and identify the best deal. A broker who can decipher the small print, making it easy for you to understand.
We have access to hundreds of insurance markets and our experienced brokers will advise and recommend the best value covers for your business. When you take out a policy with us you can rely on our support; we’ll always be on-hand to offer on-going advice and guidance as your business evolves and changes.
A sample of the small businesses and trades we insure:
Tysers Risk Services is a practical and cost-effective solution, designed to help businesses of all sizes to manage their risk, through access to extensive Health & Safety and Employment Law advice and guidance.
Client satisfaction is paramount to us, and our exceptional business retention rates are testament to this. From negotiating cover to claims management, our servicing teams develop close working relationships with you, providing expert advice on all aspects of insurance and risk management.
Research shows that 25% of UK businesses are overlooking this risk.
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. If the cover you require isn’t listed, don’t worry, talk to use because this is just a small sample of the most common covers we provide. You can also access a digital version of our full insurance covers guide here. Whilst we’ll always ensure you’re covered for almost all situations, if there’s a risk unique to you, please contact us and we will try to devise bespoke protection to meet your individual needs.
If you own a building from which a business operates whether tenanted or from which you run your own business, you will need to protect the bricks and mortar.
Buildings 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 cover what is inside the building including fixtures, fittings and items such as furniture and computer equipment.
Your business may be interrupted due to an insured loss, for example, a fire or a flood. Buildings and/ or equipment may be damaged making it impossible for you to continue to operate. You may be forced to cease trading whilst new equipment is purchased, or buildings re-built or repaired.
Loss of gross profit insurance can be put in place to cover rent, wages and any other overheads whilst your business recovers.
For less complexed businesses increased cost of working cover will enable you to continue to operate from alternative premises with insurers arranging and covering the cost of rent and stock requirements.
As a corporate or commercial business, you are legally required to have Employer’s Liability cover at a minimum level of £5million but for larger organisations our insurers offer £10million as standard and our brokers can place much higher levels of indemnity.
Claims limits on the policies apply to claims because of a single cause therefore we urge clients to consider whether the limits selected will be sufficient should there be multiple claimants.
The policy 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 which would be incurred whilst defending a claim.
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 or whilst you undertake work in their home or on their premises.
Products liability insurance is designed to cover the cost of compensation to anyone who is injured, or whose property is damaged by a faulty product. Cover is included for the payment of compensation and any associated legal costs – it does not include the cost of replacing the defective product itself.
All sellers of goods (products), whether they are manufacturers, intermediaries or retailers, may incur liability to their customers and others for death, injury, illness or damage to their property.
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.
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.
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. You could be held liable for any loss or damage caused. For example, a solicitor acting on behalf of a property purchaser, failed to report that the property had limited access. The purchaser held the solicitor liable for the omission of this detail and made a successful claim.
A standard policy covers liability for injury, damage or financial loss arising from a breach of professional duty carried out in good faith or negligent acts, such as errors or omissions in their professional capacity.
Professional indemnity insurance is 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, business credit insurance, export credit insurance, or credit insurance 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. So, if your debtors fail to pay, you are protected.
Learn more about Trade Credit Insurance here
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
We can insure a single motor vehicle or a fleet of motor vehicles under one policy. Fleet insurance is available for all types of businesses and vehicles including cars, vans, trucks, minibuses, etc. so no matter what type of vehicles you have in your fleet, you can get them covered under one policy.
Motor insurance protects your employees, your vehicles and other motorists against liability in case there is an accident. It provides financial compensation to cover any injuries caused to people or their property.
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 cover protects losses and liabilities because of damage to property resulting from terrorist acts. A commercial terrorism 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.
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).
Health insurance or Private Medical Insurance (PMI) is a type of insurance coverage that covers the cost of an insured individual’s medical 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.
They can be purchased by an employer, as a 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