Top-Menu

Commercial Insurance

shutterstock_193322765-TransparentInsurance protection tailored to the needs of local business

For many years Meadons Insurance Brokers have catered for the insurance needs of the local business community.  We specialise in tailoring insurances to meet the specific requirements of our clients for all types of business.

  • Manufacturing/Processing and Wholesaling Industries
  • Engineering
  • Haulage and Transport      (including Fleet and Special types vehicles)
  • Home Workers
  • Motor Trade
  • Agricultural
  • Cricket Club Insurance
  • Property Owners
  • Retailers/Offices/Surgeries
  • Pubs/Hotels/Restaurants/Takeaways
  • Construction and Tradesmen
  • Professionals
  • Charities and Not for Profit Organisations
  • Leisure Industries

This list is not exhaustive, we will always try to accommodate all types of business.

Asset Protection

This cover provides protection against damage to buildings, contents and stock. It provides protection for a range of Perils including damage by fire, storm and flood or losses by theft. This protection covers a wide range of areas including:

  • Buildings
  • Office contents
  • Stock
  • Machinery and plant
  • Computers
  • Money
  • Property away from the premises
  • Frozen Food
  • Glass
  • Terrorism

Business Interruption

A vital component of any business continuity plan, Business Interruption insurance is the critical part of ‘who pays.’ Whether your company is a manufacturer, a wholesaler, a retailer or a professional service business, it makes sense to protect yourselves against a drop in income. This type of protection requires special attention because it cannot be altered after a disaster occurs.

Business Interruption insurance is inextricably linked to property damage. Many aspects of Business Interruption insurance replicate business continuity planning.   The key features of Business Interruption insurances are:

  • The intention of BI insurance is to restore the business to the same financial position as if the loss had not occurred.
  • BI insurers insist that any property is insured against loss or damage so that funds are provided to pay for the repair or replacement of the ‘bricks and mortar.’

The sources of revenue to be insured need to be identified and can be either Gross Profit, Gross Revenue, Gross Fees, Book Debts or other sources of income, or a combination. Some income such as interest on investments or profits on the sale of assets is not insurable in normal BI insurances.

  • Gross Profit – the amount by which the sum of the turnover and the closing stock shall exceed the sum of the opening stock and the uninsured working expenses.
  • Gross Revenue – money generated by all of a company’s operations, before deductions for expenses
  • Gross Fees – money generated from services a company charges a fee for.
  • Book Debts– the amounts of money due or owed to a business or profession by customers or clients.

The business activities to be insured must be identified and need to capture all of the organisation’s business, including future acquisitions, or newly created entities or new ventures.

Goods in Transit

Cover is included automatically under Package Policies such as Shops usually up to a limit (such as £2500) and can also be included as a section of cover under a Commercial Combined Policy. However specialist transporters of goods like Hauliers will need a Bespoke Policy for this cover.

Whatever goods or products you need to insure, it’s crucial that you get the best cover to suit your budget and your requirements.  A goods-in-transit policy will protect you from:

  • Theft (while in transit)
  • Loss (while in transit)
  • Damage caused by accidents during transit
  • Damage caused during transit
  • The consequences of any untoward delay (in some cases)

As with other forms of insurance, you and your provider will need to agree on how much the goods are valued at. If the goods are new then this shouldn’t be too much of a problem.  Remember, this type of insurance does not protect you if you find the goods you have ordered or dispatched are inferior, below standard, or damaged through inappropriate packaging – this is not quality control.

If you are shipping your goods by sea then you would take out marine insurance. This also includes the transit of cargo over land at each end of the voyage.  There are two types of cover:

  1. New for Old – items are replaced at their current market value
  2. Indemnity cover – the insurance company will take into account general depreciation.

If you do purchase a New for Old policy, make sure to value your contents at their replacement value, not at their actual value.

Employers Liability

Employers’ Liability Insurance enables businesses to meet the costs of compensation and legal fees for employees who are injured or made ill at work through the fault of the employer. Employees injured due to an employer’s negligence can seek compensation even if the business goes into liquidation or receivership. The NHS can also claim the costs of hospital treatment (including ambulance costs) when personal injury compensation is paid. This applies to incidents that occur either on or after 29 January 2007.

By law, an employer must have Employers’ Liability Insurance and be insured for at least £5 million. Most insurers automatically provide cover of at least £10 million. Cover should apply to all your employees in England, Scotland, Wales and Northern Ireland.

There are a few exceptions where this cover is not required by law which include:

  • Family businesses: where all of your employees are closely related to you. However this exemption does not apply to family businesses which are incorporated as limited companies.
  • Limited companies: Companies employing only their owner and where that employee also owns 50% or more of the issued share capital in the company.

You can be fined up to £2,500 for any day which you are without suitable insurance. The Health & Safety officer (HSE) is responsible for enforcing this law.

It is now being made compulsory for Employers Liability Insurers to publish information about policies to make it accessible to claimants thus enabling them to trace policies more easily. As a result anyone with employers liability insurance will be required to provide their broker/insurer with their Employers Reference Number (or PAYE reference) for their company and also any subsidiary companies.

Public and Product Liability

If members of the public or customers come to your premises or you go to theirs, you should think about taking out public liability insurance.

This type of insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business.  It also covers any related legal fees, costs and expenses as well as costs of hospital treatment (including ambulance costs) that the NHS may claim from you.

Premiums depend on the type of business you run, your turnover and the number of employees you have.  There are many conditions, exclusions and warranties that can be applied to public liability policies.  If you work from home, and customers or members of the public visit you there, you may also want to think about taking out public liability insurance. 

Some businesses, e.g., horse riding establishments, are required to have public liability cover.  You will also find that many of your customers or potential customers require proof of adequate insurance before they will allow you to work for them.

For product liability insurance (PLI) a product is defined as any physical item that is sold or given away.  Products must be “fit for purpose”.  Under the Consumer Protection Act 1987, you are legally responsible for any damage or injury that a product you supply may cause.

If you supply a faulty product, claimants may try to claim from you first, even if you did not manufacture it. You’ll be liable for compensation claims if:

  • your business’ name is on the product – i.e. the manufacturer made it for your brand
  • your business repairs, refurbishes or changes it
  • you imported it from outside the European Union
  • you cannot clearly identify the manufacturer
  • the manufacturer has gone out of business

Otherwise, the manufacturer is liable – or the processor, where the product involves parts from multiple manufacturers.  However, you must also:

  • show that the products were faulty when supplied to you
  • show that you gave consumers adequate safety instructions and warnings about misuses how that you included terms for return of faulty goods to the manufacturer or processor in any sales contract you issued to the consumer
  • make sure that your supply contract with the manufacturer or processor covers product safety, quality control and product returns
  • have good quality control and record-keeping systems

The nature of risk, leading to the viability of a claim and the premium, is affected by:

  • who the product is sold to
  • how and where it is used
  • any warnings or labels provided

Product Liability insurance covers against compensation awarded as a result of damage to property or personal injury caused by your product.  Bear in mind that if someone is awarded personal injury compensation, the NHS can claim to recover the costs of hospital treatment (including ambulance costs). This applies to incidents that occur either on or after 29 January 2007.

PLI may not cover you against financial losses to a business or person caused by a faulty product which you manufactured, serviced or supplied.

PLI also covers you against unforeseen circumstances, such as product faults your quality control system couldn’t trace. However, if you simply make an inferior product, you may be unable to make a claim, or even get insurance. Bad workmanship is not covered either.

Before issuing a policy your insurer will want to know that your:

  • manufacturing or services are conducted according to industry best practice
  • staff are adequately trained
  • equipment and systems are appropriate, up to date and well maintained

How much cover to take out
Most businesses have cover of between £1 million and £5 million. The norm is £2 million.  To reduce your premiums, implement quality control measures. This ensures lower premiums, reduces the risk of compensation claims and helps protect your reputation in the marketplace.

Professional Indemnity

If your business involves selling your knowledge or skills, you should consider professional indemnity (PI) insurance.  A PI policy covers areas such as libel, slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, negligent statement or actions, error and omissions for principals and their employees.

PI insurance protects your business against compensation sought by a client if mistakes have been made or you are found to have been negligent in some or all of the services you provide.

If you are a lawyer, accountant or financial adviser, then you must have professional indemnity insurance.  Professionals such as architects, consultants, advertising and PR agencies, and designers often opt for such cover as well.

Important aspect when considering PI insurance – you need to be covered both at the time of the event and when the claim is made. This is because there can often be a long delay between an event and a subsequent claim.  So, if you plan to cancel your policy when you close your business or retire, you may need to arrange “run-off” cover for a period of time afterwards. Also, if you plan to change insurers, you will either need to arrange run-off cover or get agreement from your new insurer to accept new claims for prior incidents.

Key tip: document everything!  To minimise potential claims you should ensure all projects are well documented.  Set out specific responsibilities in your contracts with clients beforehand and deal with complaints promptly. 

Contractors Liability

Contractors liability insurance covers claims arising for property damage and personal injury as a result of a contractors’ negligence.



UK law stipulates that if a company is found responsible for injury or damage to property whilst carrying out a contract, it will be liable for any compensation claim. So contractors need to be covered by adequate insurance in the form of contractors liability insurance, which may include public liability insurance and possibly employers liability insurance.

In addition to liabilities very often cover is required for Contractors All Risks, please refer to the types of policies tab for more information.

Management Liability (incorporating Directors & Officers Liability)

Under current legislation a Director or Officer of a company can be held personally liable for their actions.  Although your company has limited liability you have unlimited personal liability.

All your personal assets are at risk, everything you have ever worked for in the past, your home, savings, investments and car could all be taken away from you because of a seemingly small error of judgement.

Cover is available to protect Directors and Officers, including their personal property, and the company against claims from other parties such as financial institutions, clients, suppliers and employees alleging wrongful acts or failure to carry out their duties.

Cover can be extended to include Company, Charities, Clubs & Associations Legal Liability.

Another optional cover is Employment Practices Liability, which covers legal costs, court awards & settlements associated with employment disputes including unfair dismissal & discrimination.

Environmental Liability

Most public liability policies include pollution liability as standard. This covers damages paid to a third-party who has suffered as a result of pollution caused by your business activities. Pollution liability as part of public liability insurance covers sudden and unexpected incidents that take place during the insured period, such as one-off accidents.

If your business operates in an industry where there is a higher risk of pollution during everyday operations you may want to opt for a bespoke policy such as environmental impairment liability. This can be designed specifically for your industry sector or even your particular business.

Environmental impairment liability should cover:

  • clean-up costs from any creeping pollution
  • damages awarded for injury to people or property
  • the cost of investigating and defending the company against such claims

Charity Liability

New provisions introduced by the Charities Act 2006 allow charity trustees to use the charity’s funds to buy personal indemnity insurance to protect themselves personally against wrongful acts.

Wrongful Acts include actual or alleged acts and the policy is designed to pay for and defend these actions, unless the governing document specifically prevents it. However, there are limitations on what such policies can cover. For example, they must exclude:

  • the payment of fines imposed in criminal proceedings or penalties incurred as a result of non-compliance with regulatory requirements
  • the cost of an unsuccessful defence against criminal prosecution for fraud, dishonesty, or wilful or reckless misconduct
  • liability to the charity as a result of a deliberate failure to act in the interests of the charity

Cyber Liability

With the technology that exists today many businesses face new liability risks such as Internet and Email liability. This relative new area of liability is important for companies that use the internet and email as a major part of their business:                                      

With the internet comes a significant risk. Companies who use e-mail, the Internet, an lntranet or e-commerce face potential exposure to claims from the following areas:

  • Libel
  • Downloading of Viruses
  • Unauthorised Access
  • Infringement of Copyright
  • Failure of Web-sites
  • Companies have a vicarious liability for the content of employees’ e-mail messages and have a direct responsibility for the content of their Internet web-site
  • Companies could face claims as a result of damage to third party software or hardware as a result of downloading a virus from their e-mails or web-site
  • Companies could be in breach of Data Protection legislation if a third party gains unauthorised access to their records via the Internet and obtains personal data held on their system
  • The law of copyright extends to a publication on the Internet and applies in respect of graphics, sound and almost any other material transmittable on the Internet
  • With companies increasingly using “e-commerce”, failure of the web-site could result in a financial loss for a third party.

Traditional insurance coverage such as Public/Products Liability will provide only a limited amount of protection for Internet Liability. Internet Liability Insurance has been specifically developed to provide insurance protection solely in respect of a company’s exposure to Internet risks.

Typical cover would include:      

  • negligent acts, errors and omission
  • breach of duty
  • infringement of third party intellectual property rights
  • breach of confidentiality
  • loss of documents (including system and records)
  • libel and slander
  • downloading of virus to third parties
  • liability arising out of Data Protection legislation
  • compensation for court attendance.

The fact is, these risks are very real, and no one is immune. Already, a significant number of organisations in the UK have had claims made against them that were not covered under their standard business insurance.

Engineering

Businesses can’t do business without their computers, machinery and plant.

Our Engineering policy provides six main covers and an inspection service that will help you check all your areas of risk. The main areas of cover are:

  • Machinery damage
  • Engineering business interruption
  • Computers
  • Own plant and hired-in plant
  • Deterioration of stock
  • Inspection services
  • Themes

Contractors All Risks

Wherever there is the construction of buildings or civil works, there is a risk of loss or damage. The contract governing the works will place the responsibility for this loss or damage with either the Contractor or Employer.

Contractors All Risks insurance policy can protect either party against the cost of this loss or damage.

Contract issues are becoming a common factor within the Construction Industry. Cover can be arranged to include:

  • Cover for the works
  • Cover for plant hired in
  • Cover for non-negligent damage to third party property
  • Cover for offsite storage of materials
  • Cover for free issue materials
  • Cover for increases in Public Liability limits of indemnity

Marine

Marine Cargo insurance is an intrinsic part of international trade and is required by anyone engaged in the movement of goods.

Many people believe that the term Marine Cargo insurance only covers goods that are shipped by sea – this is not the case. Marine Cargo insurance encompasses transportation by sea, air, road, rail, post, or by any combination – from origin to destination.

Marine Cargo insurance indemnifies the owner of the goods against physical loss or damage that may have been incurred as a result of a peril insured against during the transit.

Employee Dishonesty

The statistics are staggering. Fraud costs businesses ten times more than fires . . . .but it is often overlooked on most companies’ insurance policies.

The cost of employee fraud in 2006, the value of reported business fraud in the UK was £1.37 billion – a 40% increase from 2005. Over 85% of fraud cases are committed by staff, with more than half (55%) involving senior managers.

Protecting against employee fraud can take place in any business – from acupuncturists to wine merchants – so our policy is invaluable to many types of company. Our typical clients include solicitors, other professionals, charities, local authorities, manufacturers and social clubs.

Our policy will particularly help small and medium enterprises (SME) which are less likely than larger companies to survive serious fraud losses.

Credit Insurance

Trade credit insurance can be the most cost effective investment you can make for your business. This solution is right if:

  • your business trades with other companies on credit terms
  • you worry about non–payment of trade debt if you have recently suffered a bad debt
  • a bad debt could do serious harm to your company.

Trade Credit insurance policies cover against the risk of non-payment, due to your customers’ insolvency, and protracted default (i.e., non-payment six months after original payment due date). For exporting companies, they can also extend over losses arising as a consequence of Political (Country) risk.

Personal Accident Policy

Personal Accident policy covers employees against Accidental Bodily Injury during the course of their employment which results in either death, permanent or temporary injury/disablement.

Covers injury that causes:

  • Death
  • Loss of sight/ limbs/speech/hearing/internal organs
  • Permanent total disablement
  • Temporary total disablement

Business travel can also be purchased either in conjunction with Personal Accident or as a standalone. Business travel cover provides benefits against issues that may have an effect on your business, this cover acts to minimise any potential disruption to a business.

Covers can include:

  • Medical & Emergency Travel Expenses
  • Personal Belongings
  • Money
  • Cancellation
  • Travel Delay
  • Hijack & Kidnap & Ransom
  • Personal Liability
  • Legal Expenses


This policy is designed to cover various businesses including Manufacturing, Processing, Wholesalers, etc.

  • Material Damage
  • Business Interruption
  • Theft
  • Liability including Employers, Public & Products
  • Money (can include assault cover)
  • Goods in Transit
  • Business all risks (for contents removed from the business premises)
  • Frozen Foods
  • Employee Dishonesty
  • Loss of liquor licence
  • Terrorism

This policy provides cover for Public Houses, Hotels, Wine Bars etc.

  • Buildings
  • Contents
  • Stock including deterioration
  • Business Interruption
  • Liability including Employers, Public & Products
  • Money & Assault cover
  • Book Debts
  • Personal Accident
  • Goods in Transit
  • Employee Dishonesty
  • Loss of liquor licence
  • Damage to glass and sanitary fittings
  • Terrorism
  • Commercial legal expenses

This policy would provide cover for various office based risks such as accountants, solicitors, vets etc.

  • Building
  • Contents (including equipment & business records)
  • Business All Risks (for contents removed from the business premises)
  • Theft
  • Business Interruption
  • Book debts
  • Liability including Employers, Public and products
  • Employee Dishonesty
  • Personal accident
  • Glass
  • Money and assault cover
  • Computer breakdown
  • Terrorism
  • Commercial legal expenses

Cover can be provided for both Residential & Commercial lets.

  • Material Damage – Buildings & Landlord contents
  • Loss of rental income
  • Alternative accommodation
  • Property owners public and products liability
  • Employers liability
  • Terrorism
  • Commercial legal expenses

This policy is also suitable for Fast Food Takeaways and alike.

  • Buildings
  • Contents
  • Stock including deterioration
  • Business Interruption
  • Liability including Employers, Public & Products
  • Money & Assault cover
  • Book Debts
  • Personal Accident
  • Goods in Transit
  • Employee Dishonesty
  • Goods in Transit
  • Loss of liquor licence
  • Damage to glass and sanitary fittings
  • Terrorism
  • Commercial legal expenses

This can provide cover for various types of retailer, salon etc.

  • Buildings
  • Contents
  • Stock including deterioration
  • Business Interruption
  • Liability including Employers, Public & Products
  • Money & Assault cover
  • Book Debts
  • Personal Accident
  • Goods in Transit
  • Employee Dishonesty
  • Loss of liquor licence
  • Glass
  • Terrorism
  • Commercial legal expenses

This policy can cover all types of sports clubs such as football, rugby, gymnasiums etc.

  • Material Damage
  • Business Interruption
  • Theft
  • Liability including Employers, Public & Products
  • Money (can include assault cover)
  • Goods in Transit
  • Business all risks (for contents removed from the business premises)
  • Management Liability incorporating Directors & Officers
  • Electronic equipment
  • Frozen Foods
  • Employee Dishonesty
  • Personal Accident
  • Loss of liquor licence
  • Terrorism

Many people have taken the opportunity to control their costs by working from home. Cover can be provided for a variety of businesses/trades eg Consultants, Architects, Plumbing/Electrical engineers etc.

  • Buildings
  • Business Contents
  • Household Contents
  • Deterioration of Stock
  • Business Interruption
  • Liability including Employers, Public & Products
  • All Risks (for contents removed from the business premises)
  • Personal Possessions (for contents removed from the home)
  • Machinery & Computer Equipment Breakdown
  • Good in Transit
  • Glass
  • Money
  • Malicious Attack
  • Personal Accident
  • Legal Expenses

You may also need to consider additional covers such as Management Liability, Professional Indemnity etc. to give you greater Protection

For more information, see below

Goods in Transit

Cover is included automatically under Package Policies such as Shops usually up to a limit (such as £2500) and can also be included as a section of cover under a Commercial Combined Policy. However specialist transporters of goods like Hauliers will need a Bespoke Policy for this cover.

Whatever goods or products you need to insure, it’s crucial that you get the best cover to suit your budget and your requirements.  A goods-in-transit policy will protect you from:

  • Theft (while in transit)
  • Loss (while in transit)
  • Damage caused by accidents during transit
  • Damage caused during transit
  • The consequences of any untoward delay (in some cases)

As with other forms of insurance, you and your provider will need to agree on how much the goods are valued at. If the goods are new then this shouldn’t be too much of a problem.  Remember, this type of insurance does not protect you if you find the goods you have ordered or dispatched are inferior, below standard, or damaged through inappropriate packaging – this is not quality control.

If you are shipping your goods by sea then you would take out marine insurance. This also includes the transit of cargo over land at each end of the voyage.  There are two types of cover:

  1. New for Old – items are replaced at their current market value
  2. Indemnity cover – the insurance company will take into account general depreciation.

If you do purchase a New for Old policy, make sure to value your contents at their replacement value, not at their actual value.

Professional Indemnity

If your business involves selling your knowledge or skills, you should consider professional indemnity (PI) insurance.  A PI policy covers areas such as libel, slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, negligent statement or actions, error and omissions for principals and their employees.

PI insurance protects your business against compensation sought by a client if mistakes have been made or you are found to have been negligent in some or all of the services you provide.

If you are a lawyer, accountant or financial adviser, then you must have professional indemnity insurance.  Professionals such as architects, consultants, advertising and PR agencies, and designers often opt for such cover as well.

Important aspect when considering PI insurance – you need to be covered both at the time of the event and when the claim is made. This is because there can often be a long delay between an event and a subsequent claim.  So, if you plan to cancel your policy when you close your business or retire, you may need to arrange “run-off” cover for a period of time afterwards. Also, if you plan to change insurers, you will either need to arrange run-off cover or get agreement from your new insurer to accept new claims for prior incidents.

Key tip: document everything!  To minimise potential claims you should ensure all projects are well documented.  Set out specific responsibilities in your contracts with clients beforehand and deal with complaints promptly. 

 

Management Liability (incorporating Directors & Officers Liability)

Under current legislation a Director or Officer of a company can be held personally liable for their actions.  Although your company has limited liability you have unlimited personal liability.

All your personal assets are at risk, everything you have ever worked for in the past, your home, savings, investments and car could all be taken away from you because of a seemingly small error of judgement.

Cover is available to protect Directors and Officers, including their personal property, and the company against claims from other parties such as financial institutions, clients, suppliers and employees alleging wrongful acts or failure to carry out their duties.

Cover can be extended to include Company, Charities, Clubs & Associations Legal Liability.

Another optional cover is Employment Practices Liability, which covers legal costs, court awards & settlements associated with employment disputes including unfair dismissal & discrimination.

 

Environmental Liability

Most public liability policies include pollution liability as standard. This covers damages paid to a third-party who has suffered as a result of pollution caused by your business activities. Pollution liability as part of public liability insurance covers sudden and unexpected incidents that take place during the insured period, such as one-off accidents.

If your business operates in an industry where there is a higher risk of pollution during everyday operations you may want to opt for a bespoke policy such as environmental impairment liability. This can be designed specifically for your industry sector or even your particular business.

Environmental impairment liability should cover:

  • clean-up costs from any creeping pollution
  • damages awarded for injury to people or property
  • the cost of investigating and defending the company against such claims

Cyber Liability

With the technology that exists today many businesses face new liability risks such as Internet and Email liability. This relative new area of liability is important for companies that use the internet and email as a major part of their business:                                      

With the internet comes a significant risk. Companies who use e-mail, the Internet, an lntranet or e-commerce face potential exposure to claims from the following areas:

  • Libel
  • Downloading of Viruses
  • Unauthorised Access
  • Infringement of Copyright
  • Failure of Web-sites
  • Companies have a vicarious liability for the content of employees’ e-mail messages and have a direct responsibility for the content of their Internet web-site
  • Companies could face claims as a result of damage to third party software or hardware as a result of downloading a virus from their e-mails or web-site
  • Companies could be in breach of Data Protection legislation if a third party gains unauthorised access to their records via the Internet and obtains personal data held on their system
  • The law of copyright extends to a publication on the Internet and applies in respect of graphics, sound and almost any other material transmittable on the Internet
  • With companies increasingly using “e-commerce”, failure of the web-site could result in a financial loss for a third party.

Traditional insurance coverage such as Public/Products Liability will provide only a limited amount of protection for Internet Liability. Internet Liability Insurance has been specifically developed to provide insurance protection solely in respect of a company’s exposure to Internet risks.

Typical cover would include:      

  • negligent acts, errors and omission
  • breach of duty
  • infringement of third party intellectual property rights
  • breach of confidentiality
  • loss of documents (including system and records)
  • libel and slander
  • downloading of virus to third parties
  • liability arising out of Data Protection legislation
  • compensation for court attendance.

The fact is, these risks are very real, and no one is immune. Already, a significant number of organisations in the UK have had claims made against them that were not covered under their standard business insurance.

Engineering

Businesses can’t do business without their computers, machinery and plant.

Our Engineering policy provides six main covers and an inspection service that will help you check all your areas of risk. The main areas of cover are:

  • Machinery damage
  • Engineering business interruption
  • Computers
  • Own plant and hired-in plant
  • Deterioration of stock
  • Inspection services

Contractors All Risks

Wherever there is the construction of buildings or civil works, there is a risk of loss or damage. The contract governing the works will place the responsibility for this loss or damage with either the Contractor or Employer.

Contractors All Risks insurance policy can protect either party against the cost of this loss or damage.

Contract issues are becoming a common factor within the Construction Industry. Cover can be arranged to include:

  • Cover for the works
  • Cover for plant hired in
  • Cover for non-negligent damage to third party property
  • Cover for offsite storage of materials
  • Cover for free issue materials
  • Cover for increases in Public Liability limits of indemnity

Marine

Marine Cargo insurance is an intrinsic part of international trade and is required by anyone engaged in the movement of goods.

Many people believe that the term Marine Cargo insurance only covers goods that are shipped by sea – this is not the case. Marine Cargo insurance encompasses transportation by sea, air, road, rail, post, or by any combination – from origin to destination.

Marine Cargo insurance indemnifies the owner of the goods against physical loss or damage that may have been incurred as a result of a peril insured against during the transit.

Employee Dishonesty

The statistics are staggering. Fraud costs businesses ten times more than fires . . . .but it is often overlooked on most companies’ insurance policies.

The cost of employee fraud in 2006, the value of reported business fraud in the UK was £1.37 billion – a 40% increase from 2005. Over 85% of fraud cases are committed by staff, with more than half (55%) involving senior managers.

Protecting against employee fraud can take place in any business – from acupuncturists to wine merchants – so our policy is invaluable to many types of company. Our typical clients include solicitors, other professionals, charities, local authorities, manufacturers and social clubs.

Our policy will particularly help small and medium enterprises (SME) which are less likely than larger companies to survive serious fraud losses.

Credit Insurance

Trade credit insurance can be the most cost effective investment you can make for your business. This solution is right if:

  • your business trades with other companies on credit terms
  • you worry about non–payment of trade debt if you have recently suffered a bad debt
  • a bad debt could do serious harm to your company.

Trade Credit insurance policies cover against the risk of non-payment, due to your customers’ insolvency, and protracted default (i.e., non-payment six months after original payment due date). For exporting companies, they can also extend over losses arising as a consequence of Political (Country) risk.

Personal Accident Policy

Personal Accident policy covers employees against Accidental Bodily Injury during the course of their employment which results in either death, permanent or temporary injury/disablement.

Covers injury that causes:

  • Death
  • Loss of sight/ limbs/speech/hearing/internal organs
  • Permanent total disablement
  • Temporary total disablement

Business travel can also be purchased either in conjunction with Personal Accident or as a standalone. Business travel cover provides benefits against issues that may have an effect on your business, this cover acts to minimise any potential disruption to a business.

Covers can include:

  • Medical & Emergency Travel Expenses
  • Personal Belongings
  • Money
  • Cancellation
  • Travel Delay
  • Hijack & Kidnap & Ransom
  • Personal Liability
  • Legal Expenses

Our Commercial Team has over 100 years of experience in all aspects of business and we would be delighted to discuss your requirements either by telephone or alternatively, one of our representatives will call to see you if required.

Get in Touch