PL insurance covers you in case a member of the public injures themselves or if their property is damaged while you are working.  It covers the cost of claims made by members of the public for incidents that occur in connection with your business’s activities, for example, if they slip on the floor and decide to sue you, you’ll be covered

If the products you use, recommend or sell cause problems, you can be held liable.  Products are central to many businesses, and if something goes wrong, you can be sued for claims and compensation.  Should this happen to you, product liability insurance will cover the costs of any compensation you are made to pay, together with the legal fees

Directors’ and officers’ insurance (D&O insurance) is a good option as the business’s leaders, senior figures can be personally liable for the business’s actions and face hefty financial losses should legal action go against them. Directors’ and officers’ insurance – or D&O insurance as it’s also known – protects your senior members from the costs of legal action

If you own the building in which your organisation operates, then you need commercial buildings insurance to protect it.  Buildings insurance protects you from the cost of repairing or rebuilding your building if it’s damaged by things such as floods, fires, vandalism, or an explosion

Terrorism insurance – protection against property damage and loss of income caused by acts of terrorism in England, Scotland or Wales

EL insurance is a legal requirement if you have employees.  It provides cover in the event of an employee injuring themselves or if their property is damaged while at work.  The law says that if you employ at least one person, you must have employers’ liability insurance (sometimes called ‘E.L. insurance’) in place to protect your employees in case they are injured or become ill because of working for you.  Your policy must:

Cover you for at least £5 million – some companies take £10 million or more and be with an authorised insurer.  Employers must also provide a safe working environment

Cyber-attacks are dangerous, costly, and on the rise.  Half of UK businesses and around a third of charities have reported having experienced some form of cyber security breach or attack in the last 12 months.  This is even higher for medium-sized businesses, 70% of which have been attacked, large businesses, 74% of which have been targeted, and high-income charities, 66% of which have been victims (Source: The Department for Business, Innovation and Skills 2024 report).

Given these worrying statistics, it’s no wonder that cyber insurance is considered as being an essential business insurance, especially as cyber insurance covers you against the costs of ransomware attacks, data loss, reputational damage, malware, and the cost of infecting another organisation’s systems

If something catastrophic happened, such as a fire or flood, and your business was forced to close for a while, could you cope?  With no money coming in and bills needing to be paid, would you be able to keep going?  Business interruption cover provides you with an income while your business is out of action, providing much-needed peace of mind in a time of stress

If you have two or more vehicles associated with your company – be they cars, vans, plant or trucks – you can save time and money by insuring them with fleet insurance

If you advise customers or provide a service and are required to advise on best practices, you should consider having professional indemnity insurance.  Professional indemnity insurance – P.I. insurance – will shield you financially should you be sued for losses by a customer for giving them poor or misleading advice

Protects your organisation should someone be involved in an accident at work.  It will pay out in the event of death, bodily injury, or disablement.  The compensation provided can pay for temporary staff or cover the overtime cost for other team members

Deterioration caused by temperature changes due to failure or damage of the refrigeration systems and accidental failure or emergency removal of public electricity, gas or water supplies

Goods in transit – or GiT insurance as it’s also known – protects your goods while they are being moved from damage, loss, or theft

Should you need to recall a product you have made, as there’s an issue with it, product recall insurance can help cover the costs associated with it