SME or corporate – we have it covered.
We have created this page for anyone with a business. Whether your business is large or small, a start- up or well established, whether you have hundreds of employees or you are a sole trader, you will be open to a number of risks and it is vital to the future success of your business that you adopt the right insurance plan to cover these risks.
At JW Seagon we provide an insurance solution for every risk your business faces and we can package the policies in such a way that it saves you money and is easy to administer. We will spend time to understand you and your business to establish where you are exposed and can then piece together a solution that fits your needs perfectly, thus saving you time and money.
Business insurance – your questions answered.
If you would like to learn more about the types of commercial insurance available to you then we urge you to read through the questions below as they will enable you to understand what insurance cover is relevant to your business. Then get in touch and we will do the hard work for you.
Does your business own any buildings or expensive equipment?
Fires, Storms, Floods, and other events that damage your business’s physical property can seriously impact your business. Theft is also a common challenge to all businesses, and it is all covered under Fire/Theft /All Risks Insurance.
Insurance policy required: Fire/Theft/All Risks
Would your business come to a halt as a result of damage to buildings or equipment?
Many businesses insure their assets but forget to insure their lost income following a major loss. If you are manufacturing a product and your factory or machinery are destroyed or damaged, then your production may cease or reduce, thereby generating zero or reduced turnover. You may still have overheads, wages, and bank costs to pay.
Insurance policy required: Business Interruption
Are you getting the best out of your employees?
As well as maximising productivity by getting employees back to work as quickly as possible, a company that includes a health insurance policy within their employee benefits package will be better able to recruit and retain the best candidates and demonstrate a duty of care to employees.
Insurance policy required: Health Insurance
If a key employee departs unexpectedly due to death or injury, would day-to-day operations be significantly impacted?
You may have outstanding loans that need to be cleared in the event of the owner’s demise or you may have a top sales person without whom would result in lost income to the business. You may have Senior Executives who bring substantial value to the business and who you would have to replace if they were no longer with you. These costs can be compensated for by the relevant life assurance policy.
Insurance policy required: Key Man Life Insurance
Does your business have employees?
Different countries have different requirements: Some insist on Workers Compensation to be provided for their staff, others insist on Employers Liability. Ultimately, you have a responsibility to all employees to provide a safe place to work, and any illness or injury to your employees can result in a claim, so it is highly recommended that you arrange cover.
Insurance policy required: Workers Compensation/ Employers Liability
Is your business customer-facing?
There are many different types of Third-Party Liability covers, from something as simple as a tile falling from your factory roof and landing on a guests car, to a product failing and causing death or injury to a member of the public. Whether you are an electrical contractor mis-wiring a house and setting the property alight, or a restaurant causing customers food poisoning, either way you could be held legally liable.
Insurance policy required: Public & Products Liability
Is your business paid to offer a service?
Doctors misdiagnosing, lawyers giving incorrect legal advice, your accountant being late with your revenue returns and you being fined, an architect making an error in the design of your property or even an Insurance Broker not providing you with the correct insurances… these are all examples of ‘malpractice’ and are insured under this type of insurance.
Insurance policy required: Professional Indemnity
Does your business need to transport goods by road, sea or air?
Perhaps you are transporting your goods ‘in country’ or maybe you are importing or exporting your products, losses do occur. Maybe a ship or plane goes down, your lorry or a hauliers lorry catches fire or is hijacked, or simply, the product is dropped whilst unloading. This type of insurance will cater for your losses.
Insurance policy required: Marine/Goods in Transit
Does your business operate using computers?
Sadly, computer crime is worsening and even the most secure of IT systems can be ‘hacked’. Of course, the direct theft of money is common, but it is also the cost of changing your IT security, ransom demands, reputational risks and breaches of data protection laws that can result in major costs to your business. Cyber policies are designed to protect you.
Insurance Policy required: Cyber Crime/Cyber Liability
Does your business own a vehicle or a fleet of vehicles?
The most well-known of all policies and most countries will insist on some form of Motor Insurance. Choices are almost endless but do please check the small print.
Insurance policy required: Motor Insurance
We hope the questions above have allowed you to determine which insurance benefits are required for your business. The next step is to identify which product is right for you. You can view our full range of products in more detail or simple complete the enquiry form below and we will make contact.
Would you like us to contact you at renewal?
If you have found this page informative and useful but the timing is not quite right, then click on this link, leave us your details and we will make sure we get in touch just before your next renewal.
Not sure where to start?
Contact us today.
Contact us today.