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Business Insurance FAQ's

Businesses are constantly changing and therefore it's important to review your policy regularly and check if the cover is still relevant. For example taking on new employees, purchasing additional machinery or expanding your premises all might affect your insurance policy. If you're unsure if a change will affect your policy please don't hesitate to contact our team for advice.

It is important to find the right balance so that you're not left under insured, but at the same time not paying out for covers that are not required. By reviewing your business operation in full and where applicable visiting your premises, we are able to provide you with a detailed explanation of the insurance covers suitable to meet the requirements of your business.

Your business is your livelihood and having the correct insurance in place can reduce the financial impact of incidents outwith your control and allow the peace of mind that should the worst happen you will have the assistance at hand to get you back up and running again.

Certain types of Insurance such as Employers Liability insurance and vehicle insurance may be required by Law.

We can advise you on an Insurance programme that will meet both your Legal requirements and the need to protect your business that provides your livelihood.

You must advise us as soon as practically possible. This is a policy requirement which allows the prompt involvement of experienced claims handlers who can assist in minimising the claim and the associated distress that inevitably accompanies any claim.

You should contact us before cancelling a business insurance policy, as many policies do not give a return of premium if you cancel the policy during the policy year. Where insurers do give a refund they may retain a certain amount (and we may charge a cancellation fee) to cover administration costs.

After discussion, if you still wish to cancel the policy you should confirm this writing to our office in order that a record of your instructions can be retained.

Insurers providing Employers Liability Insurance are required to register the policy with the Employers Liability Tracing Office (ELTO). In order to do this they will ask for customers' Employer Reference Number (ERN).

The ERN is also known as the Employer PAYE Reference and is given to every business that registers with HMRC. This number can be found on forms P45, P60, P11D as well as any correspondence from HMRC relating to PAYE.

Insurers are required to maintain a database held by the Employers' Liability Tracing Office (ELTO) with details of Employers' Liability Policies. This service helps people who have suffered injury or disease at work find the relevant insurance company quickly and easily.

In order to make an entry on this database insurance companies are required to collect Employer Reference Number (ERN) from their customers.

It is recommended that all businesses regardless of size and industry sector should have in place a business continuity plan. The plan itself should document the processes and procedures that are carried out by an organisation and give guidelines for responding to an emergency so that essential business functions continue to operate during and after a disaster.

Do bear in mind that disasters take many forms - the loss of a key employee, an interruption in your supply chain, loss of power or devastating events such as fire or flood.

Why not give us a call?

01224 848111

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Monday to Friday
9.00am - 5.30pm

Saturday & Sunday