When you set out to run your own business, there are a number of critical documents and policies that you need to have in place. Insurance is one of the most important ones. Depending on the legal structure of your business and the products and services that you offer, there are several different types of policies that you may need to consider. The best way to make sure you have all the policies you need is to work with an Insurance Brokers Bath way such as www.markrichard.co.uk/areas-we-cover/insurance-brokers-bath.
Professional Indemnity – this type of insurance covers any advice or services that you provide that might turn out to be negligent. It covers the business and its employees in instances where a claim may be made on this basis.
Public Liability – this is an important insurance to ensure that you have as it protects your business should a claim be made based on an accident or injury that might occur as a result of your business activities.
This claim could be for the loss or damage of property or any personal injury that might occur.
Directors Liability – if you are a director of a company, you will need to consider this type of insurance. It covers directors and officers of the business against any action that may be taken against them for any losses that might occur. This could be action taken by former employees, customers, suppliers, investors, competitors and by regulatory bodies.
There are a number of other insurances that may be relevant such as buildings and contents, if you have a physical premise that you operate from.
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