We offer bespoke business insurance to fit your tailored, specific requirements. Our full service insurance packages assists you in finding the solution that fits in with your business.

 

Whether you require public liability insurance, professional indemnity or tradesman and construction insurance our specialist are able to manage the process and provide you with a package to cover you needs.

 

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Thinking of starting your own business venture? Take the headache out of commercial insurance Posted on : 04/05/2012

Starting up your own business can often seem daunting, as the ever-growing checklist of things to get sorted seems never-ending. However, as securing a business insurance policy is imperative, Noobpreneur has released a breakdown of all of the technical logo that will help you navigate the minefield that can be business insurance. In the current economic climate, most providers often use template policies for new companies that are tailored to the business’s specific requirements. This will mean that the  commercial insurance quote for your business will be lower as a result, including economies of scale and smaller administrative costs. In order to make sense of which elements to include, and what level of cover you need,  Noobpreneur suggests that consider that following:

  • Employers liability cover. This is generally a legal requirement for all businesses that have any employees.
  • Public liability insurance. This protects you from the effects of a lawsuit by a member of the public that arises due to loss, harm or damage in the course of your work.
  • Errors and omissions insurance (E&O) is a bit like public liability insurance, but covers you for harms that arise specifically from your products or services.
  • Professional indemnity cover. Once again, this is a little like E&O, but is applicable when your business involves providing advice as part of its services. Solicitors, mortgage brokers, financial advisers and architects will need this by law, amongst other professions.
  • Directors and officers liability (D&O). This protects you from the financial impact of lawsuits arising from the decisions made by you or other managers of the company. These can include harassment and discrimination. D&O will usually be required before you form a board of directors or secure outside investment.
These all protect you from various liabilities – namely lawsuits brought by different parties. Make sure your commercial insurance quote includes legal fees as well as any settlements required by the court, since even if the case goes in your favour these can be prohibitively expensive. Beyond these, you may need to insure property, stock, vehicles, cash and so on, whether on or off the premises (if your work involves transporting expensive stock or large quantities of money, you should consider goods in transit and cash in transit cover). Finally, think about the different forms of personal insurance you might want to take out. Regular employees often receive insurance as part of their pay package, as a ‘taxable perk’. As someone self-employed, you will not. All the same, illness or injury could mean the end of your business and livelihood, especially in the early days of your company when you are so key to its success. Health insurance and critical illness cover could be two to purchase and, of course, life insurance will ensure that your family is provided for in the worst case scenario. Many or all of these can be bundled together under a single policy, making for a more competitive commercial insurance quote. However, make sure you take specialist advice to establish that you really do have all the cover you need.

Judge criticises efficiency of business cases Posted on : 18/04/2012

A judge who governs business disputes has criticised the amount of time it takes for cases to be prepared and completed. Mr Justice Weatherup, the Commercial Court Judge for the High Court in Belfast hears cases involving matters like business contracts and insurance on a daily basis, which often take a long period of time to resolve. Only recently, he was hearing a case involving a dispute between a packaging company and a manufacturing firm, which had been running for more than a year already. The case was then adjourned for until at least another seven weeks time.

In the last two days alone Weatherup had removed "four or five" cases from his schedule as delays made then unattainable.

He said:
"Some cases in Belfast had been "going on for years", which compares unfavourably with the Commercial Court in Dublin. I've had enough of this... if parties aren't ready it's their own fault."
The sensitive nature of business insurance cases means that jurisdiction can take up to "22 weeks on average" from start to the conclusion, although Weatherup was quick to note that "almost all cases in Dublin are completed in less than a year."

 

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