Wallace Insurance Brokers

The Wallace Group, Whitehall Chambers, 43 New Row, Coleraine. Co Londonderry. UK. BT52 1AE.

Construction and Commercial Insurance Specialists

Telephone: +44(0) 28 703 25999   Fax: +44(0) 28 703 4641   Email: admin@wallace-group.co.uk

BUSINESS COMBINED

COVER OPTIONS A combined policy has the advantage of offering a selection of cover options. Not all firm’s requirements are the same. We can provide guidance in identifying the main risks which are essential for the protection of your business. We can then identify areas of cover which are optional, but can provide additional protection. The following provides a brief explanation of the risks which are most common in a combined package. PROPERTY DAMAGE Property Damage insurance is a protection on buildings and/or their contents against either ‘Fire and Special Perils’ or ‘All Risks’ or ‘Burglary’ including Theft. This includes cover for fire, explosion, aircraft, earthquake, lightening, riot, civil commotion and/or malicious damage, storm and tempest, flood, burst pipes, lightening impact and sprinkler leakage. Certain conditions/endorsements regarding property protections/security will be required depending on the property concerned. PUBLIC LIABILITY Public Liability Insurance is a protection against claims made upon the business for bodily injury (other than to employees) or damage to property for which the employer or his workforce can be held liable. Cover is usually limited to £1 Million Indemnity but can be increased if required. Another important area which can be included is the liability which can arise for accidental injury sustained by or accidental loss or damage to the property of third parties arising from defects in goods sold or supplied by your business (Products). EMPLOYERS LIABILITY Employers Liability Insurance is protection for the employer against claims made upon him by his employees for death, injury or disease sustained while they are at work. Since 1971 it has been legally necessary to insure against this risk. PROPERTY OWNERS LIABILITY Property owners liability insurance is a protection against claims made upon the landlord/property owner for bodily injury or damage to property for which the landlord can be held legally liable. Cover is usually limited to £1 Million Indemnity but can be increased as required. Such cover is usually a standard part of property insurance. DIRECTORS & OFFICERS LIABILITY Wrongful acts undertaken by a director, officer or individual can be insured against possible litigation (Wrongful Act’s also extends to include Wrongful Employment Practice). BUSINESS INTERRUPTION Business Interruption insurance provides cover for loss of earnings which has been caused by a loss under property damage. (e, g. A fire which has damaged a shop will mean loss of earnings until the damage is repaired). ENGINEERING Engineering insurance provides “all risks” cover for plant or machinery at the premises or extends to include items away anywhere in the UK (Republic of Ireland can also be included), whether it’s owned or hired in. Basic cover is for loss or accidental damage arrising from sudden and unforeseen damage. GOODS IN TRANSIT Goods in Transit covers goods you own or for which you are responsible in connection with your business for loss or damage whilst in transit on land, water or sometimes air. Cover is determined by the nature of the goods being transported, the mode of transport and distances involved. For overseas transit, there is a special Marine Insurance, which covers transport by sea, as well as the following journey over land to deliver the goods. MONEY Money and/or other types of financial exchange such as cheques , money orders etc can be insured against loss at the premises, in transit or at other specified locations (e.g. employees homes). Additionally assault cover can be considered for risk of bodily injury being sustained by persons attacked whilst carrying the firms money. FIDELITY INSURANCE This covers you for fraud or dishonesty by employees, it can be taken out for any amount of employees or the whole staff. CREDIT INSURANCE Credit Insurance policies to protect their clients against the potentially disastrous effects that can occur as a result of bad debts. Additionally Credit Insurance policies provide access to unique, continually updated, financial information on both new and existing customers. Credit Insurance helps to ensure that a business has a secure financial foundation enabling it to remain profitable and in a strong position to develop and grow with confidence. With a Credit Insurance policy in place you are armed with a powerful financial and economic information source enabling you to develop business with successful and secure partners, proving that a Credit Insurance policy is also a powerful marketing tool.

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PERSONAL ACCIDENT If, as a result of a personal accident, you or a business partner are unable to carry on with your business this policy would provide compensation (restricted to the policy limits) with respect to the insured party's disablement or loss. Group schemes are also available. BUSINESS CAR Many companies provide company cars for staff members. A specialist company business car policy can be arranged to combine all vehicles cover under one policy. Commercial vehicles cannot be added to such a policy (see commercial vehicle section). Vehicle Insurance is required under the Road Traffic Act for vehicles operating on the public highway. Wallace Insurance Brokers have negotiated unique rates and schemes for all levels of cover from Third Party Fire and Theft to Comprehensive, to suit your individual company requirements. Facilities are also available for young drivers. COMMERCIAL VEHICLE Commercial vehicle insurance is required under the Road Traffic Act for vehicles operating on the public highway. Wallace Insurance Brokers have negotiated unique rates and schemes for all levels of cover from Third Party Fire and Theft to Comprehensive to suit your individual requirements. Facilities are also available for young drivers. Specialist vehicles such as a minibus or modified vehicle can be accommodated. A multi-vehicle policy can be arranged with numerous vehicles being added to the same policy with each vehicle earning individual bonus ( i.e. Not a Fleet Type Policy). COMMERCIAL FLEET Commercial Fleet Insurance is required under the Road Traffic Act for vehicles operating on the public highway. Wallace Insurance Brokers unique fleet schemes for all levels of cover (Third Party Only, Third Party Fire and Theft to Comprehensive) tailored to suit your individual vehicle requirements. To qualify for a fleet rated policy you usually require five or more vehicles.

Whitehall Chambers, 43 New Row, Coleraine. Co Londonderry. BT52 1AE.

Telephone: +44(0) 28 703 25999   Fax: +44(0) 28 703 4641   Email: admin@wallace-group.co.uk