Business Insurance
Business Insurance protects businesses from losses due to unexpected events during normal business operations, such as lawsuits, natural disasters, or accidents. There are many types of insurance for businesses, including coverage for property damage, legal liability, and employee-related risks, among others.
Companies evaluate their business insurance needs based on potential risks, which can vary depending on the type of business and its environment.
Small business owners must carefully consider and evaluate their risks because they may have personal financial exposure in the event of a loss. Business insurance protects business owners from potential losses due to unexpected events that they couldn’t afford to cover on their own. This allows businesses to operate when it might otherwise be too risky to do so.
LMIS has a dedicated team able to offer the following types of business insurance, which is suitable for small and medium sized entities, including single person entities: –
Employers Liability Insurance
Can protect you against staff claims following accidents at work or work-related illnesses. It is a legal requirement in the UK and therefore applies to most businesses with employees.
Public Liability Insurance
Can cover legal costs and compensation payments if your business is held responsible for injury or property damage to a client, contractor or another member of the public.
Product Liability Insurance
Designed for businesses that are involved with products, such as manufacturers, wholesale distributors, and retailers. Product liability insurance protects a business from costs associated with damages caused by products, such as a defective product causing bodily injury or harm. Without product liability insurance, a business can be vulnerable to paying for expensive lawsuits.
Professional Indemnity Insurance
Directors & Officers Insurance / Management Liability Insurance
Can protect your position as a director, partner or officer of a company. It is a liability insurance that covers the directors and officers of the company against lawsuits alleging a breach of fiduciary duty.
Business Interruption Insurance
Can protect against loss of income or gross profit that a business might suffer after an unexpected event, such as damage to your property caused by fire, flood, storm or unforeseen circumstances affecting your ability to trade.
Contractors All Risks
