|
Business Insurance
 When
you own a business, the most obvious things you need
to insure are your buildings, plant and stock. But
is your business also protected from loss of profits
resulting from business interruptions, and all the
liabilities faced on a day to day basis?
We have insurance experts who can work with you to
tailor the best insurance package to protect you and
your business. We have access to all the leading
insurance companies and business insurance products.
 Our specialist business insurance advice covers:
Material
Damage
Covers buildings, plant and contents for
accidental and sudden loss or damage.
Business
Interruption / Loss of Profits
This covers the client for loss of revenue as a
result of a claimable event under the material
damage policy.
For example a fire may close a factory down for
several weeks or months. Whilst they are not
trading they are losing income, this policy
covers lost income plus standing charges that
the business may still have to pay such as rates
and wages etc.
Liability
Insurance
many different policies fall within this
category. The most common is 'Broadform' or
'Public Liability' insurance. This covers the
client for their liability to third parties for
property damage or injury to third parties as a
result of their negligence in connection with
the running of their business.
Statutory
Liability
This insurance covers you for innocent breaches
of certain Acts of Parliament. For example Fair
Trading Act, Privacy Act, Sale of Liquor Act,
Building Act and many others. It does not cover
you for fines under the Health and Safety in
Employment Act (But does cover defence costs and
any reparations awarded), Arms Act, Aviation
Crimes Act, Crimes Act 1961, Proceeds of Crime
Act 1991, Summary Offences Act 1981, Transport
Act 1962 and Transport (Vehicle and Driver
Registration and Licensing) Act 1986.
Employers
Liability
This policy covers your liability to any
employee who, due to your negligence, is
injured. Any costs not covered under ACC would
be covered under this policy including Punitive
and Exemplary Damages. Also covers your defence
costs.
Directors and
Officers Liability
This insurance covers Directors and Officers for
liability arising out of wrongful acts committed
in their capacity as Directors and Officers of
the company. Some actions which could be taken
against a Director or Officer could include ?
Shareholders alleging negligent recommendations
or public statements regarding mismanagement of
Company assets or regarding takeovers, investors
alleging misrepresentation in a prospectus,
creditors alleging improper incurring of debts,
customers or others alleging misrepresentation
in public statements or advertising material as
some examples.
Machinery
Breakdown
Covers motors and electronic equipment
(including computers) for mechanical, electrical
and electronic breakdown. These types of losses
are excluded under most material damage
policies.
Commercial
Motor
Cover fleets or individual vehicles. Specialist
commercial vehicles covers or extensions are
available under this type of policy (e.g. Loss
of use, automatic cover for new purchases etc).
Marine Hull
Covers several different areas, including
commercial boats, goods in transit and Carriers
Liabilty (transport companies liability for the
items that they cart).
|
