Different Types of Insurance
Insurance is an essential item in any business’ toolbox. Here is a run-down of some of the key types of insurance policies on offer.
Office Insurance
Standard cover includes:
- Theft and Damage to your office equipment
- Financial loss from business interruption
- Legal Liability protection to any employees you have or may use and to the Public.
Remember not all Home insurance policies will cover a business operating from a residential dwelling.
Legal Protection
Given the tendency of our society to bring litigation it is all too easy for individuals and organisations to find themselves facing legal issues. Protection is available for legal costs and attendance expenses.
Standard cover includes:
- Tax, Department of Social Security or HM Customs and Excise Investigation
- Data Protection Act breach
Employers’ Protection Legal protection insurance is available for organisations of all sizes and for individuals.
Professional Indemnity
Professional Indemnity insurance has historically been bought by those professions that needed it to be able to trade, e.g. lawyers, accountants, insurance brokers etc. Now we find that exhibition and event organisers have the need for this coverage as our society becomes increasingly litigious.
A Professional Indemnity policy protects an insured for breach of professional duty, which generally arises from negligence.
Directors’ and Officers’ Liability
With corporate governance in the spotlight, today’s company directors are under constant scrutiny. Claims can come from a variety of sources:
- Shareholders
- Employees
- Regulatory authorities
- Customers / clients
- Competitors
- Creditors
Directors’ and Officers’ covers all directors and officers for liability they incur as a result of allegations made against them in the course of their fiduciary duties.
Trustees’ Liability
Litigation today is expensive and lengthy, which can cause significant financial difficulties to both the trust and the trustee personally.
Specific policies are available for Trustees of all types of organisation.
Standard cover includes:
- Civil proceedings
- Trust/Employer reimbursement
- Official investigations and enquiries
- Libel and slander
If you want to discuss the best insurance options for your business, contact Clarity Event Insurance.
