Commercial Clients
Expert advice you can trust
Commercial Clients Tailored to You
Our role at Specialist Insurance Solutions Ltd is to make your personal insurance as simple as possible to understand and arrange. We can also help streamline your insurance administration. Rather than juggling multiple policies with different renewal dates and premiums, you may benefit from a tailored portfolio approach.
With extensive experience in arranging insurance for private clients through specialist insurers, Specialist Insurance Solutions Ltd has the expertise to help protect your most valuable assets. Should you need to make a claim, we’ll work closely with your insurer to help ensure it is handled as quickly, fairly, and efficiently as possible.
Insuring high-value assets isn’t simply a case of paying a higher premium for increased sums insured. It requires specialist cover, expert advice, and dedicated services. Standard off-the-shelf or online policies can leave significant gaps in protection when your home, possessions, vehicles, or other valuable assets are anything but ordinary.
At Specialist Insurance Solutions Ltd, we take the time to understand your individual circumstances and provide insurance solutions tailored to your specific needs. We would be delighted to arrange a chat or meeting to discuss how we can help protect what matters most to you.
Business insurance
Business, or commercial, insurance should cover your legal costs following a successful compensation claim against your business. Covers can vary under a policy package but the three main areas are:
Public liability – protects your company if a member of the public has their property damaged or is injured because of your business.
Professional liability – covers your business if a client claims for a financial loss resulting from work you conducted for them.
Employers’ liability – defends your business from work-related sickness and/or injury claims made by current or former staff members.
Cyber insurance
Cyber insurance is an increasingly vital policy in our digital age. It covers the losses relating to the damage to, or loss of information from, IT systems and networks. Covers and limits vary significantly and the policy should be tailored to your needs. The vast majority of financial losses are first party and include theft of funds, theft of data and or damage to digital assets.
A policy usually covers:
A direct (or first party) financial loss to you or your business arising from a cyber event. A cyber event is an actual or suspected unauthorised IT system access, electronic attack, or privacy breach.
The liability actions that might be brought against you, arising out of a cyber event (third party loss), such as investigation and defence costs, civil damages, compensation payments to affected parties.
It also generally includes significant assistance with, and management of, cyber incidents both before and after an incident has occurred – typically pre-incident support, security & privacy breach costs and post-incident support.
D&O
Directors’ and officers’ liability insurance (D&O) covers the cost of compensation claims made against a business’s directors and key managers (officers) for alleged wrongful acts. Such acts can include:
- breach of trust
- breach of duty
- neglect
- error
- misleading statements
- wrongful trading
If your company has directors or key managers, D&O insurance can cover the cost of compensation claims made against them by shareholders, investors, employees, regulators or third parties. D&O insurance policies can vary greatly and you need specialist advice to build the covers and limits appropriate to your business.
Employer’s liability
This defends your business from work-related sickness and/or injury claims made by current or former staff members. Cover is usually provided within a Business Insurance policy.
Hotels, pubs and bars
Obviously no two establishments are the same, so cover should be tailored accordingly. In general, covers include:
- Public liability – to compensate for damage, loss or injury to third parties at the property. £2million is often offered as a standard limit, but this will be inadequate if local authorities require higher limits or functions are open to non-guests.
- Employers’ liability – you are legally obliged to have this insurance in place when you employ staff. It should cover them for injury whilst working at your premises.
- Buildings insurance – protects your most valuable asset by covering the cost of repairing damage or a complete rebuild after a covered loss.
- Business interruption – should an incident occur which stops your business from trading, this insurance should cover outgoings such as wages, rent and over-heads.
Life science insurance
The life science sector continues to grow and we can help companies involved in areas such as biotechnology, medical devices & equipment, pharmaceuticals, product development, nutraceuticals and veterinary products. Cover is usually modular with limits to suit which phase of development the organisation is at. A flexible policy may include:
- Property damage
- Intellectual property
- Business interruption
- Clinical trials
- Product liability
- R&D property
- R&D expenditure
- Employers’ liability
- Public liability
Professional indemnity insurance
The FCA requires certain firms to have professional liability insurance (PII) in place, as it provides the extra financial resources to pay justified claims from. PII covers firms when a third party claims to have suffered a loss, usually due to professional negligence. Whether required or not, a PII policy gives extra peace of mind to the business owner/professional executive.
Property owners/ landlord insurance
Whilst not a legal requirement, some mortgage companies require landlord insurance if you plan to invest in a buy-to-let-property. It helps protect property owners from financial losses associated with renting out the property, e.g. loss of rent and legal expenses. It should provide cover for theft, fire and weather damage and any contents owned by the landlord within the property.
Public liability insurance
Whether you’re a sole trader or run a large organisation, public liability insurance protects the business if it is taken to court by a client or member of the public. It will cover the costs of your legal defence plus any compensation or settlement money you may have to pay out. It should also be able to cover your costs if someone is injured as a result of your business activities.
Restaurant and nightclub insurance
As a restaurant or nightclub owner it’s important to protect your business, customers and staff should an incident occur. If a member of the public is injured in your restaurant or club or a member of staff is injured/falls ill, then you could be held liable.
Restaurant and Nightclub insurance policies are essentially a form of business insurance designed specifically for each business. Specialist insurers enable businesses to combine the covers required in one package with one premium, making it easier to manage. Depending on the organisation and needs, covers may include:
- Accidental damage
- Buildings
- Business interruption
- Contents and stock
- Door staff/security personnel
- Employers’ liability
- Glass and signage
- Legal cover
- Loss of licence
- Personal accident
- Product liability
- Public Liability
Terrorism insurance
Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities. Losses, costs, damages and expenses from terrorism are usually excluded from standard business insurance policies. Terrorism cover is therefore added as an extension or bought as a stand-alone policy.
Products and services available
Get In Touch For Expert Property Insurance Advice
- 02380 736266
- Email:info@sis-ltd.co.uk
- Based in Eastleigh SO50 9PD
Frequently Asked Questions
What types of commercial insurance do you arrange?
We arrange a broad range of business cover, including public liability, professional indemnity, employers’ liability, business insurance packages, cyber insurance, directors’ and officers’ (D&O) liability, property owners’/landlord insurance and terrorism cover. Policies are tailored to your business and sector.
Which types of business do you cover?
We work with everyone from start-ups and growing enterprises to established organisations, and have specific experience in sectors such as hotels, pubs and bars, restaurants and nightclubs, and life sciences (including biotechnology, medical devices and pharmaceuticals).
Do you offer cyber insurance?
Yes. Cyber insurance covers losses relating to damage to, or loss of, information from IT systems and networks. Such as theft of funds or data, as well as liability arising from a cyber event, plus support before and after an incident. Cover and limits are tailored to your needs.
What is directors’ and officers’ (D&O) insurance?
D&O insurance covers the cost of compensation claims made against a company’s directors and key managers for alleged wrongful acts – such as breach of duty, neglect, error or misleading statements – brought by shareholders, investors, employees, regulators or third parties. Policies vary greatly, so specialist advice matters.
Is employers’ liability insurance a legal requirement?
In most cases, yes. If you employ staff you are legally obliged to hold employers’ liability insurance to cover work-related injury or illness claims. It is usually provided within a business insurance package.
How do I get a commercial insurance quote?
Call 023 8073 6266 or contact us to discuss your business. We’ll work with you to build the covers and limits appropriate to your organisation.