Manufacturing
Below we have listed some of the Insurance policies that you
should consider - some or all of which might apply.
Material Damage - A substantial amount of
clients' money is likely to be tied up in physical assets such as
buildings, stock and machinery. For your insurance cover you
should not only consider the cost of repairing buildings and
replacing stock but also how your business will survive the
financial losses that inevitably follows- paying wages during
downtime; outsourcing; securing alternative premises; lost profits
whilst production is down.
Business Interruption - Business interruption
insurance insures against loss or damage to the income or profit of
a business due to an interruption in the business.
Money & Cash cover - An insurance
policy that will cover money and cash that you hold on your
premises, the value will be dependent on the security system your
firm as deployed.
Professional Indemnity - Professional Indemnity
Insurance covers for claims for compensation due to mistakes made
in the course of the companys business.
Travel - Insurance cover on individuals and
their personal items whilst travelling on company business.
Special Types - Consider comprehensive cover on
Forklift trucks to include Inspection cover to comply with the
Health & Safety Work Act 2005.
Crime Insurance - Crime Insurance will allow
your business file for claims because of employee theft or other
offenses with the potential to cause financial ruin. Your
property insurance policies usually don't cover losses caused
by dishonest employees.
Directors & Officers Liability Insurance
(D&O) - Indemnity against legal liability of Directors
& Officers of the company to pay damages for alleged wrongful
acts or omissions committed in the course of the business.
Goods in Transit -Goods in Transit Insurance is
designed to protect goods and stock that are in your care while in
transit, such as freight, cargo, marine etc.
Legal Expenses also known as Legal Protection
Insurance is a type of cover which simply covers your business
against the potential costs of legal action brought against you by
another individual or institution.
Credit Insurance - provides cover for non
payment by buyers of your company goods.
Fidelity Guarantee - This type of insurance
provides cover to your business for employee fraud.
Motor Fleet -Fleet Insurance is insurance
coverage that a company buys to cover all of its vehicles. It can
be a large number of vehicles, or it can be a small number (six or
less is a mini fleet). This type of insurance can cover cars as
well as trucks and vans.
