3 Types Of Business Insurance Every Company Should Consider

From legal action to cyber attacks, running a company is a risky business. Here are some popular insurance policies that will protect you, whether you’re a tech startup or an established law firm.

If someone makes a claim against you or your business, you could face a lengthy legal battle. Management Liability Insurance covers your defence costs along with any settlements and compensation for claims and employment disputes ranging from wrongful trading and breaches of tax regulations to sexual harassment and corporate manslaughter.

The recent cyber attack on Yahoo reinforces the importance of Cyber Liability Insurance. Without this protection, you’ll have to foot the bill if costs are incurred as a result of a security breach, hack or system damage caused by a virus or malware. You could also be out of pocket if a third party can’t access their own systems or data, if staff misuse company email or if someone claims that content on your website is defamatory.

For directors and employees who go on UK or overseas business trips, Business Travel Insurance provides better cover than a standard policy. It also covers directors and their families for personal trips. And, unlike office policies, there are no excesses for business equipment. Often taken out in conjunction with Business Travel Insurance, Personal Accident Insurance can be set up to provide cover 24/7 or during working hours. The policy not only provides protection for the business but additional peace of mind for its employees.

If you’d like me to review your business insurance, please call 0118 9165 485 or email tony.gibbs@macbeths.co.uk

Author: Tony Gibbs | September 28, 2017

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