Commercial Insurance FAQs

Businesses’ legal liabilities according to environmental legislation and regulation. Including cover for environmental legislation that’s already in existence as well as cover for future changes to environmental legislation.

Businesses are liable for presenting their remediation plans to the Environmental authorities. The process to get approval for the proposed measures is new and will involve environmental consultants and experts, as well as lawyers, to complete the negotiations. Typical insurance policies cover the investigation costs and defence costs within the limits of liability provided.

Clean up costs for remediation of the insured’s own sites party sites. This includes Bartoline type regulatory debts and emergency costs, where the authorities act immediately to an urgent situation and require reimbursement from the business for the costs.

The costs of urgent action to prevent environmental damage, as companies become aware of the damage, or the imminent threat of such damage.

Cover is available for primary remediation as well as complementary and compensatory remediation.

‘Environmental damage’ is introduced in the Environmental Damage Regulations and goes beyond just spills and releases. Also includes non-pollution related damages.

This will provide cover for your own tools if they are stolen and policies can be arranged to provide cover for storage of tools overnight.

Someone other than the insured or his insurer who has suffered injury or loss.

SAPs are the government-approved method of assessing energy performance of a new property. This assessment measures the CO2 emissions and overall energy efficiency of a residential property.

SBEM is the approved government method for calculating the carbon emission rates of commercial properties. This model must be included on any Building Regulations submission.

Seasonal Stock is normally a clause to provide an automatic increase in the sum insured under policies where seasonal increases in stock would render existing sums insufficient. Clauses of this kind are typically but not exclusively used in conjunction with hotels, pubs, shops and similar establishments.

This is the mandatory method in the UK (except Scotland) to measure the air tightness of new properties. Heat retention is also measured.

Public Liability insurance is a core requirement for your business. It protects you for your actions whilst at work and covers you and your employees for any damages that a member of the public or any other company may be awarded as a result of injury caused to them or for any damage to their property. For example, if you are working at a client’s premises and cause accidental damage to their property your public liability insurance will cover the compensation payments as well as any legal expenses.

Professional Indemnity Insurance cover offers protection for you against any advice or design input you give that causes a person or company to sustain a loss.

Product Liability Insurance protects the insured against claims made by third parties as a direct result of using a product. The product areas where claims are most prevalent include pharmaceuticals and medical devices, asbestos, tobacco, recreational equipment, mechanical and electrical products, chemicals and pesticides, agricultural products and equipment and food contamination. The list goes on.

A Performance Bond is a form of security provided by a contractor to a developer and consists of an undertaking by a bank or insurance company to make a payment to the employer in circumstances where the contractor has defaulted under the contract. Click here for more information.

Office cover can be provided for your office contents, machinery, stock, computers and laptops. It can be extended to cover the financial loss from interruption to your business.

Legal Expenses cover enables businesses to meet the cost of defending or pursuing certain civil actions and our policies can also include contract disputes and debt recovery. Office Insurance Office cover can be provided for your office contents, machinery, stock, computers and laptops. It can be extended to cover the financial loss from interruption to your business.

New build projects overseas will require a diversity of necessary regulation and compliance. Structural warranties can be arranged in the UK for use internationally.

Goods In Transit Insurance covers property against loss or damage while it is in transit from one place to another or whilist being stored during a journey. You can take this insurance out for goods being distributed in your own vehicle or by a third-party carrier, both domestically and abroad. Policies often specify the means of transport to be used, which may include the postal service.

Energy Performance Certificates (EPCs) are a statutory requirement for all residential properties that are sold, bought or rented. They provide information on how to make properties more energy efficient and reduce carbon dioxide emissions.

Employers Liability is compulsory under UK law if you have employees or “labour only sub-contractors”. It protects you against claims that might be brought against you should an employee or labour only sub-contractor injure themselves at work due to your negligence. For example if one of your employees sustains a hand injury whilst laying paving slabs, whether wearing gloves or not, your employers liability insurance policy will cover you against any claim.

New FCA regulations require insurers to collect information on all employers covered by an employers liability insurance policy, including details of their Employer Reference Number (ERN).

As a result of impending legislative changes, as of the 1st April 2012 a business will require an ERN when purchasing employers liability insurance. This is in order to definitively identify at which firms an employee has worked in the event of a claim occurring significantly after the event.

An ERN is given to every business that registers with HM Revenue and Customs as an employer. It is a unique set of letters and numbers used by the tax man and others to identify a firm. It is often referred to on tax forms as an employer PAYE reference.

The Directors and Officers of all companies may be personally responsible for any actions and decisions they make on behalf of the company putting their personal assets at risk if those decisions are tested in the courts. For example, should you find yourself being personally sued as a result of company business your directors and officer’s liability insurance policy will pay the legal defence costs involved in defending any action made against you or any compensation awards.

Policies can be arranged on a specific contract basis or an annual policy to cover all contracts. The insurance can be related to contract conditions, either NEC, the new engineering contract, ICE, for Institute of Civil Engineers older versions, or JCT – Joint Contract Tribunal. This cover can also be extended to included cover for Hired in Plant and Own Plant against accidental damage, theft and malicious damage. For example, if you are in the middle of installing a new driveway and some bricks are stolen from a secured site, your Contract Works insurance will cover the cost of replacing the bricks.

We can provide cover for commercial vehicles from individual to multi vehicle fleets for comprehensive, third party fire and theft and third party only. It can also include uninsured loss recovery insurance which provides you with cover for “out of pocket” expenses incurred in a non-fault claim.

The Code is a measure of sustainability for all new homes. Nine sustainable desing categories are used to rate the whole property using a six star rating system. This reflects and highlights the overall sustainability performance of any new residential property. The Code also introduces minimum standards for energy and water. This new code replaces the EcoHomes scheme in England and has been developed by the Building Research Establishment (BRE).

Business Interruption Insurance provides protection for the loss of profits and continuing fixed expenses resulting from a break in commercial activities due to the occurrence of an insured peril.

Building Control basically ensures compliance with the UK building regulations. It is carried out by a Building Control Body (BCB), either a local authority building control service or a private Approved Inspector (AI). Some building work can be subject to self-certification by a member of a Competent Person Scheme without the need to notify a Buiding Control Body.

This is a measure of acoustic performance on a new property that forms part of building regulations compliance. This is a measure of efficiency for various types of properties. It also demonstrates that properties are also compliant with other legislation and regulations (e.g Code for Sustainable Housing).