Business Products

Employers Liability Insurance helps employers to meet the cost of compensation for injury, illness or death of employees while at work. This cover is available on its own or combined with Public Liability and Professional Indemnity insurance. 

Public liability insurance covers your legal liability to pay damages to members of the public for death, bodily injury or damage to their property which occurs as a result of your business activities. This cover is available on its own or combined with Employers Liability and Professional Indemnity insurance. 

If you make, repair or sell products, you could be held legally liable for damage or injury arising from defects in their design or manufacture even if you have not been negligent. Product Liability insurance is designed to ensure your business for its liabilities in relation to its products.

Professional Indemnity insurance covers professional businesses for their legal liability towards third parties for injury, loss, or damage, arising from their professional negligence or that of their employees. This cover is available on its own or combined with Employers Liability and Public Liability insurance.

Buildings insurance covers the costs of repairing damage to your business premises. Your business premises should be insured for the full rebuilding cost (not for the market value). If your business is in rented premises, check that the building owner’s insurance covers your business activities. If you work from home, check that your business is covered with your home insurance provider.

Contents insurance covers the contents of your business premises including stock, office equipment and machinery. Your home contents policy may not cover you for loss or damage to business equipment, so check it with your home insurance provider.

Motor insurance is a legal requirement to use any vehicle on the road. A personal motor insurance policy may only cover commuting to and from work in which case a commercial motor insurance policy would be required.

Crime insurance (also known as Fidelity insurance) covers your business against the loss of money or stock arising from theft or dishonesty by your employees.

Business Interruption insurance covers you against disruptions to your business that leads to loss of income and extra expenses. Business interruption insurance compensates you for the shortfall in gross profit and pays any increased working costs and fees incurred.

Goods in Transit insurance covers goods against loss or damage while in your vehicle or when sent by carrier.  

The “All Risks” clause within a Contractors Plant Insurance policy means that your own or hired in plant can be covered for almost any eventuality, other than those which have been specifically excluded from you your insurance schedule. This is key as machinery and plant is pivotal to a project, yet vulnerable to a variety of factors which are all too frequent within a contractor’s line of work.

Incidents of theft, damage during transit or total destruction through fire are not uncommon, while machine breakdown can happen at any time, regardless of whether there is a tight deadline to meet.

If you’re hiring out plant, there will most likely be a clause within your hire agreement which requires you to have Contractors Plant Insurance in place, but sourcing this needn’t take up your time.

Contract Works Insurance protects against the same perils as those presented in a building insurance policy, including fire, flood, storm, malicious damage and theft with cover which can be extended to protect hired in or own plant, your tools and your employee’s tools.

Buildings can be at that most vulnerable when in a state of incompletion or repair, which is precisely why there’s a dedicated insurance policy to protect it.

However, the risks can be heightened, with raw materials left on site, and incomplete extensions more vulnerable to the elements than a fully constructed building that is better shielded.

As well the work in progress, a Contract Works Insurance policy can also protect your responsibility towards any adjoining buildings, ensuring that any damage you may inadvertently cause can be compensated.

We recommend this cover as an essential for general builders, bricklayers, shop-fitters, and many other trades who work on existing buildings, to them from a potentially huge cost through project setbacks or building damage.

Almost every business is now reliant on computers or technology to trade.  Be it income generated through websites or the reliant on computers and technology to handle data and work, a cyber hack or attack could cause serious disruptions to a company’s ability to trade efferently.

Cybercrime is one of the fastest growing crimes in the UK, with Government statistics finding that nearly half of all UK business suffered a cyber breach or attack in the last 12 months (The Cyber Security Breaches Survey 2017).

Many traditional policies may not cover claims that originate from a Cyber breach or attack (a traditional business interruption policy is a good example) and businesses be left unable to trade whilst also having to foot the costs associated with a breach.

May 2018 saw the implementation of the ‘General Data Protection Regulation’ implementing strict notification guidelines and timescales that must be followed in the event of a suspected data breach.  Failure to follow these guidelines could result in fines of up to €20,000,000 or for more serious cases €40,000,000.  Firms who handle sensitive data (this could be – but not limited to - names, addresses, D.O.B, email addresses, bank details, card details, passports, credit files and employee personal details) will have a greater emphasis on them than ever on making sure data is held securely.

A Cyber Liability policy can provide the following cover; (subject to policy T&C’s)

• 24/7 notification helpline and help with the notification to regulatory bodies
• Full management of the claim throughout the process by insurers and their partners
• Cover for the costs of IT forensics to identify if there has been a breach, what may have been taken and how it happened
• Legal breach notification costs
• Support in handling calls and questions from those who may be affected
• Crisis communications costs
• Costs for a PR firm to help maintain the reputation of a firm
• Ransomware demands/Cyber Extortion (this could be for data, websites, phone lines or operating systems)
• System repair costs (reconfiguring and rebuilding systems and networks after a system failure or corruption following a cyber-attack)
• System Business Interruption claims from a cyber breach/attack (after the noted waiting period)

Cyber Crime (including but not limited social engineering and theft of personal funds) 

Cyber Liability Application Form -  please fill in the following application form and send to info@mcminsurancebrokers.com

Directors, Officers and Senior Management carry the responsibility of the day to day running of a company.  Be it the managing of staff and their safety whilst at work or making sure that the company complies with regulations set by the government and regulatory bodies, they all have the responsibility to make the right decisions.  But what happens if it is alleged, they have been negligent, or are alleged to have committed a breach of duty while acting within the scope of their duties?

A directors and officer policy can provide cover for the Business (Entity) as well as any Directors, Officers or Senior managers who may be named in any claim.  A director or officers’ own personal liability is UNLIMITED, (the limited liability protection of a company only applies to the shareholders) and they may not be able to rely on receiving financial assistance from the company in the event they are sued.

Claimants could vary from Government Departments alleging a breach of regulation such as Health & Safety or failure to disclose information or from employees (past or present) alleging breach of employment conditions or legislation such as wrongful termination and claims of discrimination. 

Having the right Cover for the company as well as the Directors, Officers and Senior Management has never been easier and can often be purchased and on cover in the same day using a simple declaration.

Directors and Officers Application Form -  please fill in the following application form and send to info@mcminsurancebrokers.com

To discuss how a Director and Officers insurance policy can help protect your firm call our office at (096) 72977.