Commercial Insurance

All companies need Insurance protection across a wide range of exposures, however, in some cases businesses may not be aware of all the Insurance covers they require. To name but a few:

Buildings Insurance
Contents Insurance
Public Liability Insurance
Employers Liability Insurance
Product Liability Insurance

The very important insurance covers that a business or a company need to consider are Public and Employers Liability Insurance. In fact, Employers Liability Insurance is statutory and must be arranged if you are a Limited company, PLC or indeed if you employ anyone, even if this is on a part time basis.

You should also retain your Employers Liability Certificate for a period of 40 years.

Other Insurances will depend on the individual needs of each business.

Professional Insurance Agents Ltd, deal only with Commercial Insurances, and act on behalf of companies wishing to obtain cover for their businesses in the U.K. or worldwide. We are able to obtain terms from most of the major Insurance providers and from the Lloyds market, at competitive rates, offering worldwide Insurance covers and in some cases this will include cover extending and incorporating USA/Canada.

Directors and Officers Liability Insurance

Why do you need Directors and Officers Liability Insurance? Here's just a few areas where claims could be made against you:

Health & Safety at work act
Data Protection Act
Companies Act (over 200 possible offences)
Racial and Sexual Discrimination Act

We could go on if you like, but if your still unconvinced may be we should explode some myths:-

Directors have limited liability - NO THEY DO NOT!
I don't have a title director, so I can't be held liable - YES YOU CAN!
The company can indemnify us - NOT IF IT GOES BUST!
We are only a small company - THE SAME LAWS APPLY!
They cannot touch my personal assets - YES THEY CAN!

If none of this has changed your mind you are truly an exceptional director!! On the other hand, if you would like to find out more about costs and cover to protect your company`s Directors & Officers from being sued,
CLICK HERE

Any director or officers looking after a company should not act outside their own authority, or commit the company to transactions or agreements that are outside the law or outside their own companies memorandum or association, and to avoid placing themselves in a position where their personal interest conflicts with those of the company.
Anyone with a particular skill or qualification must exhibit a greater duty of skill than those without. e.g. Director, officer.

Insurance and the law - The law now permits directors to be able to protect and insure themselves against any liability for negligence, default, breach of duty, and breach of trust, this can include insurance for criminal proceedings, that may be brought against a director or officer of a company.

Medical Malpractice Insurance

Medical Malpractice / Professional Indemnity insurance is essential for any individual medical professional or medical establishment providing medical services. In today's competitive, fast moving environment the potential for errors in the performance of services - alleged or actual - is all too real. Dissatisfied patients increasingly sue when things go wrong and the financial ramifications can be severe.

CLICK HERE for the types of professions / establishments that can be covered and to obtain a quotation.

Mergers and Acquisitions Insurance

Increased shareholder litigation is a growing fact of life for UK companies, particularly those with US exposures. With this increase in litigation comes a growing awareness of the responsibilities incumbent on directors and officers of companies.

This is especially true when the company makes a public offer of its securities. Signatories of a public prospectus have a personal responsibility for its contents and could, therefore, be found personally liable for the losses of securities holders arising from inaccuracies or misrepresentations within it.

This is just part of what the policy provides:

Cover for both US and non-US exposures, including SEC registered listings on all US or other world stock exchanges. Cover can also be obtained for securities being placed privately in the US to Qualified Instituional Buyers (QIB's) under the Rule 144a exemption.
Insured includes the company and its directors, officers and employees for securities claims brought against them in connection with the offering.
At the request of the company, cover may be extended to include the issue underwriters as insureds.
Cover includes liability relating to the prospectus/listing particulars as well as negotiations, discussions and decisions in connection with the offering prior to their filing or issue.