Additional Commercial Options

What different Commercial Options are available?

Okay, so you have a local Cornish business but still unsure on what other Commercial Insurance options are available to you.  the information below will help guide you through some of these options.  But if you prefer to speak to a local Cornish Insurance Broker then visit our contact page and get in touch with us.

Additional Commercial Insurance Options

Here’s a few of the different insurance options available from your local broker in Cornwall.


Loss Recovery Insurance

A useful addition to your insurance armoury. One that can be worth its weight in gold in the event of a total loss. Imagine the worst; a fire has ravaged your business in Cornwall and you’re now tasked with sorting through the mess and trying to put the business back together.

Insurance options for my businessYour insurance broker is there to assist with the claim but you will need to collect all the information they’ll need to support your claim. So as well as trying to save your business you’ll need to spend hours obtaining the information as well as making a start to source alternative premises, replacement machinery, plant, stock, equipment to name a few. This is where a Loss Recovery insurance policy comes into play.

In this example the policy would provide you with a loss adjustor who will usually be in contact with you the same day and will work with you to assist you in obtaining the information you need to submit a claim, help you with sourcing the alternatives and work with your insurance broker to find a the best way to get you back on your feet and trading as soon as possible.

Group Personal Accident, Sickness and Business Travel

Protecting the people within your business in Cornwall is an important issue and accidents can happen anywhere including both at home and at work. An insurance broker can help you tailor cover to the needs of your business. Here’s an overview of each of the sections of cover:-

Business Travel – If you have employees who travel abroad, including directors and they fall ill abroad or injure themselves and are unable to travel then your Employer’s Liability policy will not cover repatriation back to the UK.

As a result you could end up spending thousands to get your employee back to the UK. A Business travel policy will usually cover this eventuality. Speak to your local insurance broker to obtain a quotation. Cover for this aspect only is very reasonable and can sometimes extend to cover directors and their families leisure travel;

Group Personal Accident cover – can provide a benefit (a lump sum or regular income dependant on the cover and type of claim) to the company in the event of an employee sustaining accidental injury. You could use this to cover the additional costs of the employee’s absence or to provide financial stability to your employee. It typically pays out for an accidental bodily injury or death;

Sickness cover – can provide a benefit to the company in the event of an employee being unable to work due to illness.


Directors and Officers Liability Insurance / Management Liability Insurance

Whilst a limited company has limited liability, directors of the business have unlimited liability. A Directors and Officers Liability Insurance / Management Liability Insurance policy can bridge this gap. A broker in Cornwall can help you find the right insurance policy.

Most policies provide cover for:-

  • Legal liability arising from wrongful acts
  • Reimbursement cover for the company
  • Legal defence costs, expenses and civil damages
  • Investigation costs and expenses
  • Criminal defence costs and expenses


Commercial Legal Expenses Insurance

Commercial Legal Expenses is an insurance policy for businesses which can help cover legal costs or provide legal help and advice for many situations you may encounter.

An insurance broker can help you understand the many benefits a Commercial Legal Expenses policy can offer such as unexpected legal disputes can be costly at the best of times but with the ever changing burden of employment legislation, Inland Revenue demands and a rise in contractual disputes means businesses now more than ever must to be covered for every eventuality.

Some of the benefits a typical policy includes:


  • Employment disputes cover
  • Employment compensation awards
  • Legal defence
  • Statutory licence appeal
  • Contract disputes cover
  • Property protection and personal injury
  • Tax protection which could include full or aspect enquiries & VAT disputes
  • Helpline services – Legal advice, Tax advice, Counselling service, Employment
  • Ready-to-sign contracts, agreements and letters


A useful insurance addition for businesses in Cornwall.

The Association of British Insurers (ABI) have some useful guidance, information and tools that may help you understand the different options available or alternatively speak to a broker in Cornwall for your insurance needs.


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