Commercial Insurance

Insurance companies offers a range of products to cover all eventualities for the many risks that need to be covered in business. Commercial Insurance or business cover is a complex insurance arrangement, which differs wildly depending on the type of business or company concerned.

Usually in a business policy, a broker will negotiate a single premium to cover all aspects and possible claims emanating from the business. As such then, every business has a different set of parameters of liability and requires a flexible "umbrella" policy to ensure that all aspects of the business are properly covered. It is a minefield of possible problems and scenarios. Insurance companies offers superior combined cover packages for most industry sectors and is prepared to give a free consultation to discuss all aspects of you particular requirements.

Employer's liability insurance Employers liability insurance allows you protection against claims arising from injury received by an employee whilst working for you. This is absolutely essential for any employer to have and is a legal requirement under various Government Acts covering labour legislation.

Public liability insurance Public liability insurance covers you for personal injury to and loss or damage to property of a Third Party that results from the operation of your business. Again, this absolutely essential cover to have, whether you are self-employed or a company owner.

Product liability insurance Product liability insurance protects you from any liabilities from a Third Party bodily injury (other than your employees) or damage to Third Party property resulting from products you sold or supplied. It also applies to the services sector.

Manufacturers Insurance This may be necessary to take out as for cover of specific industries such food product manufacturing, metal products, chemical processing plants, textiles manufacturing, plastic goods, wood product manufacturers and computer software/hardware.

Shop Insurance Typically this would include cover for buildings, including: outbuildings, walls, gates and fences; also car park spaces once noted in your proposal, trade contents, including: fixtures and fittings, business machines, equipment, and external/interior decorations, even Tenants improvements. It would also include trade stock, including: goods in trust, work in progress and finished goods, goods in transit, money and personal injury by assault together business interruption caused by such events. This policy would have as standard employer's, public and products liability and glass Breakage/ Fire Brigade Charges.

Office Insurance You may think that little can happen to you if run a small office doing some form of administration service but it is surprising the risks that arise when you do an assessment which could have a catastrophic effect on your business if they occurred. Most office insurance policies will cover as standard buildings damage which – covers you for damage to the building if it is owned by you, contents damage – furniture and office equipment for example. Also, tenants improvements – if you are the tenant you will want to be covered for any improvements you have made to the office. The mandatory employers liability and public liability will be covered as well as interruption to business, theft of money and all risks – for computers or equipment away from office.

Marine Insurance If you are a business that exports or imports goods, marine insurance is an essential cover you must have. Depending on the terms of contracts undertaken, you as a business may elect and agree to your supplier insuring the goods in the case of purchase of, say, a container of goods from China. You may buy this container of goods on what is known as CIF terms – Cost (of goods) Insurance and Freight. That means that the price you pay includes insurance cover until it arrives at your factory door. On the other hand, you may buy on what is termed a FOB basis. This stands for Free On Board, in other words the supplier will only insure the goods until on board the ship leaving a named port in China. After that, you as the purchaser will need to take out marine insurance for the rest of the journey. The reverse happens when you export on either CIF or FOB terms.

Goods-in-Transit Insurance Goods-in Transit Insurance (GIT) is the cover of the risk of damage to your goods whilst in transit to/from customer/supplier. This generally applies to transit by road or rail and the parameters of the policy are dictated by the circumstances of destination and agreement of responsibility of cover. This policy can also include warehouse risk cover where third party goods are being stored for reward.

Combined Liability Insurance This is where a business will advise its insurers of all the risks it need covering and instead of a whole batch of individual policies, a Combined Liability Policy is issued, usually at a discount to what a business would pay if covering the risks individually.

Property Owners Liability Insurance This is in effect landlord insurance where the property owner insures commercial or residential buildings as owner even though the tenant as part of his lease conditions may have them insured as well. This cover protects the owner against loss in the event of damage to the property and loss of rent arising as a consequence of this loss. Generally this policy will include public liability cover on common or access areas to the property to protect the landlord from any possible risks arising from third party injury that may not be covered by the tenant.

Whatever type of business you are engaged in, Insurance companies offers a solution to adequately covering the risks that arises. We will be happy to visit your business premises to accurately assess your needs.