We are hiring – Commercial Insurance Account Handler (based in Lancaster)
Assess the risks in your business
We can help you identify and protect against risk in your business.
Including:
- Recognising any potential hazards
- Identifying those at risk
- Consider how to deal with individual risks and take action
- Keep a record of your findings and put precautions in place
- Regularly review, update and improve
Have you thought about the dangers of cybercrime?
We can help safeguard your business against digital attack.
What type of liability insurance do you need?
There are three main types of liability insurance
Public Liability
Public Liability Insurance isn’t a legal requirement, although some local authorities might require you to have it. Its purpose is to cover any damages awarded to a member of the public due to an injury or damage to their property caused by you or your business.
Employers' Liability
If you employ one or more members of staff, you are legally obliged to take out Employer’s Liability Insurance for a minimum of £5m. This will cover you if an employee or ex-employee make a claim for illness or injury caused by your business, including compensation costs and legal fees.
Product Liability
If someone, or their property, has been damaged or injured by a product sold by your business, they have grounds to make a claim against you. Even if the product wasn’t manufactured by your business but includes the name of your business or if you have repaired/refurbished it, you may still be liable.
Potential liability risks
We've identified common legal issues businesses are faced with
Getting involved in a legal dispute can be time-consuming, costly and detrimental to the reputation of your company.
Employee/public accident
When an employee or a member of the public suffers an accident in your workplace.
Wrongful termination
If a previous employee believes that they were fired on illegal grounds.
Environmental pollution
The incorrect disposal of waste, causing excessive air pollution or violating current regulations.
Copyright and patent
When your company name, branding or marketing infringes on another company’s copyrighted material.
Data Protection
If data is leaked through employee error or a cyber attack, this could leave your company liable.
Directors and Officers - What is defined as a ‘wrongful act’?
Overview
A ‘Wrongful Act’ is an action or decision made by a director or an officer which are made in error including:
Wrongful acts:
- Neglect
- Breach of duty/trust
- Misleading statements
- Wrongful trading
- Immoral acts
- Improper termination
Additional Cover
Frequently Asked Questions
What would happen if I didn’t have insurance deemed as a legal requirement? 
If you don’t have sufficient insurance in place and it’s a legal requirement to do so, you will subsequently be breaking the law and could expect some repercussions. For example, if you have employees and do not have Employer’s Liability Insurance you could be fined up to £2,500 for each day you are not insured.
Do I need Directors and Officers cover?
One of the most difficult situations that you could be faced with is the death of an employee during the course of their employment. If, following Police investigations, you are charged with corporate manslaughter, your directors and officers insurance will assist with legal defence costs. This is why we would highly recommend that business owners consider adding a directors and officers policy to their portfolio of insurances if they do not already have one.
Would I be liable for a product which I sell but do not produce?
Products Liability is another insurance we would highly recommend you hold if you are selling or supplying a product. While the manufacturer may be ultimately liable for an injury or damage caused by a faulty product you may be involved in litigation if you have supplied it.
