The business you run

Business & enterprise

Who it is forOwner-managed businesses, SMEs, cooperatives and organisations that want several risks under one plan

A package that can combine property, stock, money, equipment, employee-related cover and business interruption. Business interruption pays for lost income and ongoing costs after an insured event, which is often what decides whether a business survives.

Questions we will ask

• What would stop you trading, and for how long?
• How long would it take to restart, and what would it cost?
• Which suppliers or customers could you not do without?

Have ready: Financial statements or turnover figures, asset list, premises details, list of key suppliers.

Professional indemnity

Who it is forLawyers, accountants, engineers, architects, consultants, medical practitioners and anyone paid for advice or expertise

Covers claims that a professional service was negligent, or that an error or omission caused a client loss. It typically pays legal defence costs as well as compensation. Most professional indemnity policies respond to claims made during the policy period, so continuous cover matters.

Questions we will ask

• What services do you provide, and what are the largest fees?
• Do your contracts carry liability clauses or caps?
• Have you had a complaint or claim in the past?

Have ready: Fee income, standard client contract, CV or firm profile, claims history.

Public liability

Who it is forShops, contractors, hotels, event organisers, schools and any business that receives visitors or works on other people’s property

Covers your legal liability for injury to a third party, or damage to their property, arising from your business. It is separate from cover for your own staff or your own assets.

Questions we will ask

• Do members of the public visit your premises?
• Do you use subcontractors, and who insures them?
• Do you work at height or with heavy equipment?

Have ready: Description of operations, annual turnover, contracts that require specific limits.