Insurance Services Specifically for Business
Weir Insurance has been in the insurance industry for 50 years, providing companies with business insurance. Business insurance is mandatory in some cases – such as employee insurance. Other times, it is recommended. Find out more about business insurance brokers.
What is Business Insurance?
Businesses suffer losses in the daily course of their activities; they can be caused by mistakes, omissions, infrastructure faults, and contractual breaches, and they are often unexpected and costly. Since businesses can never be one hundred per cent confident about their processes, they require some insurance coverage for losses and to protect their reputation and business.
Types of Business Insurance Offered
There is no shortage of insurance coverage for businesses. If you are concerned about unexpected employee injuries that can lead to court action, fines, and a damaged reputation, you need employer’s liability insurance; and if you’re concerned about the threat of cybercrime that can threaten the future of the business, you need cyber insurance. Find out more below.
Employers Liability
Employer’s liability insurance covers death, injury, or illness contracted in your workforce – it is not optional; it is a legal requirement. If a business does not have employer’s liability insurance, it can incur a hefty fine, but more importantly, any workplace injuries result in substantial claims.
If you are starting a business with employees or you need a new insurance policy, Weir Insurance can arrange coverage that’s tailored to your business size and offers additional benefits. Weir Insurance covers legal expenses, compensation to employees, and more.
Professional Indemnity
Businesses should always take out professional indemnity to cover losses and protect themselves from liability claims. Professional indemnity is coverage for the loss of money, business, or reputation as a result of professional services. It is sometimes a requirement.
If someone is misdiagnosed by a medical professional, incurs losses because of accounting inaccuracies, or losses business due to IT errors, the responsible business can incur fines and lost revenue. Weir Insurance can help you to create a tailored professional indemnity plan.
Product Liability
If you manufacture and sell products to consumers or businesses, it’s a good idea to have some product liability insurance. Again, product liability insurance is mandatory in some cases. This insurance protects a business from liability claims caused by defective or dangerous products.
If a product causes any bodily injury, property loss or damage, or legal fines, a business can incur substantial losses in the form of monetary fines, a damaged reputation, and a loss of revenue. Weir Insurance works with businesses to create a bespoke liability product for you.
Loss Recovery
It can be costly when a business incurs losses or needs to process a claim; that is the reason for loss recovery. Business interruptions from insurance claims or material damage can lead to lost customers and revenue and impact its reputation. Loss recovery covers these types of loss.
If the losses are over £5,000, loss recovery insurance kicks in, offering you advice from an independent loss adjuster. This loss adjuster is separate from your insurance company and provides telephone advice, personal visits, temporary premises, and an inventory valuation.
Legal Expenses
Legal action can be costly and interrupt business-as-usual impacting revenue and reputation. The last thing you want is a legal bill to pay on top of the unexpected business losses. Insurance for legal expenses exists for this reason, offering a full range of service options.
A legal expenses policy from Weir Insurance includes 24-hour legal advice from an experienced solicitor and costs incurred when defending your position. Legal costs can include property disputes, contract disputes, bodily injury, and tax investigations – these expenses are covered.
Cyber Insurance
Cyber Insurance is a recent but valuable addition to Weir Insurance policies. Cybercrime continues to advance and poses a serious threat to business and customer data. Data theft and data ransoms can cost companies significant losses that can be covered with insurance.
Currently, the term cyber insurance covers a broad spectrum of issues, including data breaches and crisis management, multimedia liability, extortion cover, and network liability insurance. Contact Weir Insurance to find out more about cyber Insurance and what coverage to invest in.
Contact Weir Insurance Brokers Today
Business insurance is incredibly important and, in some cases, mandatory. If you don’t have business insurance yet or you need some additional policies to cover potential legal expenses or losses from cybercrime, get in touch with Weir Insurance. Weir Insurance has over 50 years of experience covering businesses of all sizes; find out about creating a tailored plan today.
Finding the right cover isn’t easy. Rushing into the wrong policy can leave you at risk, or paying too much. Insure your business through an established insurance broker, our friendly experts will suggest the right solution for you
At Weir Insurance, we take pride in providing our customers with great service as well as reliable insurance. Whether you run an SME or large corporation, we’ll work with you to determine what you do and don’t need. Call us today on 0800 281 453 or visit our website. You know you’ll be in safe hands.