Our website uses cookies to enhance the visitor experience (what's a cookieCookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.). Are you happy for us to use cookies during your visits?
Please note: continuing without making a choice equates to giving us your consent, which you can withdraw at any time via our cookies policy page.

Risk Issues and Insurance for Your Business

Your business is always at risk from various angles. You need to try to minimise the risk of the following and have procedures and crisis plans in place to deal with them.

This is a list of the most important risk aspects to consider...

  • Reliance on key staff.
  • Reliance on key customers.
  • Reliance on key suppliers.
  • Is there a partnership or shareholders agreement in place?
  • Is there an IT strategy and does it cater for IT developments, viruses, system failures, back up procedures and Data Protection Registration? Is there insurance cover for an IT disaster?
  • Do stock levels cater for peaks & troughs in demand?
  • Do you need insurance?

These are the insurances that need consideration...

  • Public Liability Insurance - against claims from members of the public.
  • Are major business assets insured?
  • Keyman insurance - against the death or absence of a key employee or director.
  • Building Insurance - if you own the freehold. This should be for the rebuilding cost, not market value.
  • Stock.
  • Business Interruption - to cover you for loss of profits if something happens and your business is interrupted through no fault of your own, such as a fire, theft, etc.
  • Credit Insurance - against bad debts.
  • Directors and officers insurance against any claims made personally against them for breach of duty.
  • Employer's Liability - this is compulsory if you have employees.
  • Engineering Insurance - against mechanical and electrical breakdown of machinery.
  • Fidelity Insurance - against employees' theft or dishonesty.
  • Fire Insurance - and other risks such as flood, storm damage, etc.
  • Plate glass insurance - for shop fronts.
  • Goods in transit insurance.
  • Legal expenses cover - to cover legal fees in disputes.
  • Product Liability - against claims arising from defective products.
  • Professional Indemnity - against claims for negligence. Typically applies to many professions such as accountants, solicitors, architects, doctors, etc.
  • Travel insurance - against business travel by you or your employees.
  • Working from home.
  • Permanent Health Insurance - to compensate you for loss of income if unable to work.

You can approach an insurance broker to discuss what insurances are going to be applicable to your own situation and how much cover you require.

How We Can Help You

Please talk to us if you would like any further help with risk minimisation or insuring your business.

  • Email this page to a friend
  • Share on LinkedIn
  • Share on Twitter
  • Share on Facebook

Call us on 020 7473 4344

  • Arrange a meeting
  • No-obligation quote

Request a Callback