Business Products

Employers Liability

It’s your responsibility as an employer to protect the health and safety of your employees during working hours. You’re legally required to have employers’ liability cover in place if you employ one or more people.

Some companies don’t need employers’ liability insurance, such as businesses that only employ close family members. In these instances, while it isn’t a legal obligation to have employers’ liability insurance, lots of businesses still choose it for the financial security it provides.

Complete Cover with Wilson Insurance Brokers – Compensation, legal costs and expenses for defending health and safety prosecutions – no stone is left unturned, so you’re prepared whatever happens.

Public/Products Liability

Whether you work for yourself, work with a team or have multiple bona fide contractors, public liability is essential. Cover usually comes with Products Liability as standard though if excluded we have the ability to source this on our behalf.

In short, if your business has any contact with the general public – including your own customers – then you should seriously consider having public liability insurance. It covers you for compensation payments and legal costs if you or your employees accidentally injure a member of the public or damage their property.

Material Damage

Commercial Material Damage insurance protects an organisation’s tangible assets against physical loss or damage. The insured assets are usually broken down into different categories as follows:-

Buildings
Computers
Plant and All Other Contents
Stock
Specified Items

What is the basis of settlement under a commercial property insurance policy?

Other than stock, the standard cover is on a reinstatement basis (i.e. replacement with new) and the sums insured need to reflect the reinstatement value of the property to avoid the risk of under insurance. Stock is insured on an indemnity basis, which is the cost of replacement of the damaged goods at the time of loss and does not include any element of profit.

What are the insured perils under a commercial material damage insurance policy?

The insured perils are normally ‘All Risks’ (i.e. any loss or damage unless excluded in the policy), but cover can be for specified perils only with the most basic perils being fire, aircraft and explosion. Subsidence is not included automatically, and may be available at an additional dependent upon location. Terrorism is excluded but is available at an additional premium.

Business Interruption

When you have a loss by an insured peril, one of your top concerns as a business owner is the impact this will have on your bottom line i.e. income, gross profit etc. However with business interruption insurances you don’t have to worry about the loss of income as Wilson Insurance Broker will have you covered.

Do you need Business Interruption Insurance?

To answer this question, you need to ask yourself another: could your business survive and overcome a crisis? If your premises were damaged, for instance, and you were unable to trade, could you cope financially?

Damage and disasters – whether accidental, natural or criminal– can be devastating for businesses. Many simply don’t have the resources available to carry on trading, which means loss of income and, in the most extreme cases, closure. If you find your business becomes the victim of a crisis that leaves you unable to trade, business income insurance is there to help you through the financial side of things, and to help you get back up and running.

Product Recall

Product recall insurance is a policy that allows a company to recover the financial loss from a product that is taken back from the consumer or seller or because of a defect or for safety reasons, like the possibility or causing injury or damage to property.

Even with the safety standards and quality controls that regulate manufacturing, some commercial products still get recalled from the market because they turn out to pose a danger to consumers. Complaints about contaminated food or beverage, toys that can cause harm, or technological gadgets that become combustible have often reached the news, much to the woe of their manufacturers.

A product recall can not only be financially disastrous, but could also tarnish and ruin the brand name associated with it. Manufacturers, then, are encouraged to purchase this policy to protect them from the loss that happens when their products get recalled or banned in the market.
Product recall insurance also covers bodily injury or property damage experienced by a third party because of the defective product.

Directors & Officers Liability

Directors’ and officers’ liability insurance, or management liability insurance, is insurance cover that offers financial protection to those who are the director, partner or officer of a company. It is designed to cover the cost of claims for compensation made against the insured individual.

Being a director, partner or officer of a company brings with it certain responsibilities – to employees, members of the public, investors and regulators. It also exposes the individuals holding the positions of director, partner or officer to personal liability for the actions or omissions they make in the performance of their company duties. This means that they can personally be the subject of claims which could lead to the payment of fines, compensation or imprisonment.

With directors’ and officers’ cover sourced by Wilson Insurance Brokers you can be confident that you and any other insured directors, partners or officers are protected against the cost of defending or settling:

a health and safety or manslaughter claim
an employment claim

and claims arising from:

a breach of duty or trust
negligence
defamation
wrongful trading under section 214 of the Insolvency Act 1986
the operation or administration of a pension or employee benefit scheme
pollution.

Cyber Liability Risk Insurance

Cyber and data risks insurance is designed to support and protect your business if it experiences a data breach or is the subject of an attack by a malicious hacker that affects its computer systems. It provides comprehensive cover, simplicity, reputation protection and a trusted partner in the event of a claim.

In a world that relies on technology and digital innovation, it is reassuring to know that there is a specialist team that you can rely on to design a Cyber insurance programme that will manage the complex risks you face. We also work with established companies as well as those that are rapidly innovating and disrupting traditional industries.

As specialists in risk management services and insurance placement, we provide solutions for clients with Technology, Media, Security, Privacy and Professional Liability Exposures.

We understand that risk management has to respond to changing threats, whether the issue is wrongful collection of personal information, business interruption due to malicious attacks, human error or even the failure of a service provider. By working with you and keeping pace with emerging threats, we will continue to innovate and provide competitive cover so that you can operate with confidence.

Areas of expertise include:

Breach response costs
Regulatory investigations, civil fines and penalties
Litigation damages and costs from individuals/class actions
Media liability
Cyber Extortion and Cyber Terrorism
Data asset loss and business interruption
Loss of business income due to reputation damage event

Environmental Liability

With expanding environmental laws and regulation coupled with a marked increase in claims, there is a greater need than ever for specialist and comprehensive environmental insurance. At Wilson Insurance our team has the specialist knowledge to advise on, negotiate and place the most appropriate and cost-effective environmental cover, so that your organisation is protected.

If you are held responsible for pollution or contamination arising from your past, current or future sites or activities, it is likely that you will incur significant uninsured losses.

Typically, existing public liability and property damage or business interruption policies have complete exclusions or significant restrictions on coverage for pollution liabilities – especially in respect of gradual pollution, clean-up of your own sites and natural resources damage.

But with our specialist environmental insurance and risk management services, you can rely on us to secure the cover you need to protect your company from pollution liabilities, whatever the size of your property portfolio and complexity of your activities.

Personal Accident Insurance

Personal accident insurance is designed to protect your business financially should you suffer an injury from an accident that leaves you unable to work. It can also offer protection against the same happening to a key member of staff.

For example, you may worry about how your business would cope if you were to suffer a serious injury in a car accident, leaving you bed-ridden for a prolonged period of time. Likewise, a partner or director in your business may fall down a flight of stairs and sustain multiple injuries, keeping them in hospital for several months. With personal accident cover in place, your business would receive a lump sum or weekly pay-outs to help offset any resulting loss in income, as well as further support towards retraining costs.

Transit Insurance

Transit insurance is a policy that covers business goods or personal belongings while they’re being moved from the place of loading to the stated destination over land by a certain transport mode.

This type of insurance covers the packing and unpacking, loading or offloading, transportation and storage of goods during the entire move. It also covers the damage or loss of the goods while in transit due to mishandling or other forms of damage such as accidents, explosions, impact fires, theft, and malicious damage. Transit insurance is useful to people who regularly transport goods over large or small distances, especially couriers.

Cargo and Stock Throughput Insurance

Cargo and Stock Throughput Insurance can mean providing cover for raw materials, from the time goods leave a supplier’s premises, to work in progress, storage, or transit of finished goods for both local and overseas buyers.

At Wilson Insurance Brokers, we offer a dedicated and focused client service and our team can advise and source comprehensive cover for manufacturers, distributors, wholesalers, importers and exporters.

Engineering & Inspection Insurance

Certain types of plant and equipment require mandatory engineering inspection on a regular basis. In order to ensure the safety of everyone involved with the equipment, these inspections must be carried out by a qualified person.

Typical examples of plant and machinery required to be inspected are lifts, compressors, or plants fitted with hydraulics, chains, wires or ropes. Also, any mechanical extraction system used to control hazardous substances.

Wilson Insurance Brokers are proud to be working with the largest engineering inspection providers in the UK and Ireland to offer market leading technical expertise, dedicated to understanding your business, with absolute commitment to market leading inspection standards and quality.

What can we arrange inspection for?

Whether complex or straight-forward our service providers have the technical expertise and experience to handle all types of engineering inspection in the following disciplines:

Local exhaust ventilation equipment
Pressure plant
Lift and lifting equipment
Electrical installations
General work equipment

Failure to have items of your plant and equipment checked means any potential liability claims may not be covered by your insurance. This can also lead to prosecutions. It is vital to seek professional guidance about your obligations.

Surety Bonds

Wilson Insurance Brokers places all types of Bonds within the Surety market, such as Performance Bonds for the Construction industry. Surety is usually a more favourable solution, as opposed to the bank, which frees up working capital in a world where cash is king.
Surety Bonds are often required in order to comply with contractual and regulatory obligations.

Our team has the capability of placing Bonds almost anywhere in the world where a conditional Surety Bond is accepted, particularly in the UK and Europe.

By developing relationships with all the major underwriters in Surety, our team have created a strong negotiating position and will provide a dedicated and bespoke service.

Professional Indemnity

Professional Indemnity insurance (also known as PI insurance, PII or Errors and Omissions (E&O) coverage) should be considered by anyone who’s work is based on their knowledge or skills.

Professional Indemnity (PI) insurance helps protect your business against claims made by a client or any other third party for loss or damage. This can arise if you’ve made a mistake or have been negligent in some way. Our Professional Indemnity insurance can also take care of your legal costs.

Many professions are required by law to take out Professional Indemnity/Errors and Omissions cover, or as part of their professional accreditation, for example, architects, engineers, solicitors and surveyors. Others choose to have the PI insurance in place, such as IT consultants and advertising, design and PR agencies.

We arrange Professional Indemnity insurance cover for accountants, architects, engineers, insurance brokers, solicitors, surveyors and a wide range of other professions.

Please don’t hesitate to get in touch if you have any questions related to Professional Indemnity insurance.

Commercial Legal Protection

Running a business can bring great satisfaction and reward, but it also brings worries. There are the clients, possibly suppliers and employees, plus a whole range of other interactions and arrangements that all come together to make your business unique – and operational. The problem with all of these hourly, daily, weekly encounters is that they bring the potential for disagreement or dissatisfaction and possibly a costly and stressful legal dispute. And that’s the last thing you need when you’re putting everything you have into making your business a success.

Wilson Insurance Brokers can source a commercial legal protection policy that can help to ease the worry of what you would do if faced with a dispute. Our policies are underwritten by market leaders in specialist legal insurance, and covers the cost of the commercial legal advice and representation required to defend legal rights relating to employment disputes, legal proceedings, property protection, bodily injury and tax protection, along with commercial disputes and debt recovery.