Tag: Business insurance


Importance of Renewing Your Business Insurance

Businesses need business insurance renewed as it helps cover the costs associated with property damage and liability claims. Without business insurance, company owners may have to pay out-of-pocket for costly damages and legal claims against their company. As a company owner, you may be asking yourself, “is business insurance required? why is this important?” All businesses should have business insurance as it helps protect their organisations or companies, these could include: Type of work you do Your physical premises Property and equipment Intellectual property Employees and customers Commercial combined    Not to......

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Unoccupied Property Insurance that's Right for You

Owning an unoccupied building can pose serious liabilities as unoccupied buildings are more susceptible to vandalism, undetected repairs, fire, and other losses. If you own unoccupied property, it is advisable to purchase unoccupied property insurance. Risks Fire Lightning damage Explosion Windstorm or hail damage Smoke damage Theft and attempted theft Riot or civil commotion damage Escape of water Subsidence Vandalism (no one is present to deter vandals) Malicious mischief on the property and general property destruction   Insurance Solutions Under most policies, unoccupied property insurance can provide protection if your building goes......

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Considerations When Choosing Employers' Liability Limits

Employers’ liability (EL) insurance protects your business from claims of neglect made by the employees who have suffered an injury or ill health due to their work. Unlike most other types of insurance, EL is compulsory. If your business employs workers based in England, Scotland or Wales (including offshore installations or associated structures), your business must carry EL cover to avoid significant fines. By the law, your business is required to carry at least £5 million of EL cover. However, depending on the size and the nature of your business, the minimum......

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pi insurance

Professional indemnity (PI) insurance can cover a broad range of potential risks. Even though things that seem to be small errors can be hugely expensive for you and your business. But with the help of a professional indemnity insurance, it can safeguard your business. Companies that commonly need professional indemnity insurance are; architect firms, recruitment agency, consultancy firms, accounting practices, and much more. But what exactly can PI protect you from? How do you know you are in breach of it? What service do I need to do to get a PI......

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employee fraud

It’s an employer’s worst nightmare – an employee is unhappy with his or her job and decides to defraud or steal from the company. There are plenty of stories about employees committing these crimes and causing enormous damage. By recognising signs of occupational fraud and implementing practices to prevent it, you can lead a happy productive workforce. Fraud Facts Types of fraud include embezzling, insider trading, forging cheques, expense reports and vendor invoices, or any other type of internal. Small businesses are more at risk because owners inherently treat their employees like......

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