Articles in Category: Business

Business Insurance Tips - Risks When Dealing with Merger & Acquisition

Business Insurance Tips - Risks When Dealing with Merger & Acquisition

Mergers and Acquisitions (M&A) can be complex, particularly for a small to medium sized business where they may not be employing a specialist M&A firm to handle the transaction.

Whilst the legal and contractual requirements are more obvious, an area often overlooked is the additional insurance risk, both for the entities themselves and the Directors and Officers of both firms. It is vital that both parties review and update their insurance covers to ensure all risks are accounted for.

In this article we will detail the steps your company should take to prepare for a merger or acquisition and define two types of insurance that may help your firm complete the deal with confidence.

What Type of Business Insurance Do I Need As a Letting Agent?

What Type of Business Insurance Do I Need As a Letting Agent?

If you’re thinking of joining over 25,000 current Estate & Letting Agents across the UK by setting up your business then you’ll no doubt have spent months meticulously planning and preparing for launch. 

From location to web portals, to marketing and back office systems, there is a huge amount to consider – however one key area which is often overlooked until the last minute is Business Insurance.  This might not be the most exciting subject, but without the correct protection, you could leave your new business exposed to financial ruin.

Business Insurance Tips - How To Prepare for Bad Weather

Business Insurance Tips - How To Prepare for Bad Weather

Inclement weather can pose serious dangers both to lorry drivers and warehouse employees. It is important that all your team is prepared to handle the cold, rain and snow. As an employer, you have a duty of care to create a safe working environment for your staff and establish and communicate policies effectively in the event of inclement weather.

Should an employee suffer illness or injury during the course of their work, they could hold your business responsible and make a civil claim against you under the Employers Liability section of your Business Insurance.

Business Insurance Explained - Understand your policy ?Basis Clauses?

Business Insurance Explained - Understand your policy ?Basis Clauses?

If you run a business in the United Kingdom you may not realise that you could be at risk from a hidden peril in your commercial insurance contract: basis clauses. These clauses allow insurers to void policies based on minor and irrelevant mistakes made by the purchaser when supplying information to the insurer, such as incorrectly filling in part of a proposal form.

Business Startup - What's The Biggest Single Threat To Your Success?

Business Startup - What's The Biggest Single Threat To Your Success?

First things first, I’m a qualified Accountant who works in Insurance, now I know what you’re thinking and I’m not expecting any invites to Christmas parties!! However, I do know a thing or two about developing a successful Business Startup as well as the associated Business risk.

Of course there are hundreds of financial issues from PR, HR, EBITDA, GEARING and many more abbreviations to shake a stick at and I know that people study for years to get to grips with these issues as I have, but you don’t have to.

Shop Insurance Tips - How To Safely Sell Age Restricted Products

Shop Insurance Tips - How To Safely Sell Age Restricted Products

If you own a shop or other retail business that sells products with an age restriction, such as alcohol, tobacco and lottery tickets, it is likely that these items form a significant part of your turnover.

However, it is critical that you and your employees always take proper precautions and guidelines, both in terms of the sale process, but also in safely securing these items as they can be a target for criminals, leading to losses under your Shop Insurance policy.

Retail & Shop Insurance Tips - Managing Crowds During Sales Events

Retail & Shop Insurance Tips - Managing Crowds During Sales Events

Crowd-related injuries during special retail sales promotions or product launches has increased in recent years as events such as Black Friday or specific product offers generate a huge increase in footfall.

The risk here is twofold, as an Employer you have a duly of care to protect your employees and develop a safe working environment.  Should an employee become injured through crushing or violence in the store, you could face an Employers Liability claim under your Shop Insurance policy.

Shop Insurance Tips - Retailers, How to Reduce Employee Theft

Shop Insurance Tips - Retailers, How to Reduce Employee Theft

Your Accountant will call it Inventory shrinkage – a combination of employee dishonesty, shoplifting, fraud and administrative errors – all of these factors are costing UK businesses millions of pounds in annual revenue. 

Of all of these circumstances, theft my employees is probably the most frustrating and difficult crime for a retailer to protect themselves against.  Whilst a Retailers or Shop Insurance policy can often be extended to include fidelity cover, the simplest solution is to take preventative measures up front.

Business Insurance News - Notts firm in Court After Workers Injuries

Business Insurance News - Notts firm in Court After Workers Injuries

When you are managing a business’s Health and Safety, it’s not just the immediate visible risks which need to be considered, but also the unseen or cumulative risks, which can often result in much wider issues impacting a volume of your workforce.

A Nottinghamshire Areopace Engineering Company appeared in Nottingham Crown Court on 21st July to answer charges raised by the Health and Safety Executive (HSE) in relation to breaches of the Health and Safety at Work Act 1974. 

The HSE prosecuted SPS Aerostructures Ltd after the workers developed either Hand Arm Vibration syndrome (HAVS) or carpal tunnel syndrome from being exposed to high levels of vibration for several years at the company’s premises in Annesley. 

Do I Need Home Business Insurance or Business Contents Insurance?

Do I Need Home Business Insurance or Business Contents Insurance?

If you’re one of the growing number of over 2.1 million people running a business from home, then congratulations on taking the plunge.  There are many reasons why working from home makes sense from lifestyle choice, cost saving, to avoiding the daily grudge of a commute. However, it’s just as important, if not more so, that you give due consideration to legal liabilities and insurable perils such as fire, theft or flood which could wipe out your business in one foul swoop.

5 Myths about Public Liability Insurance

5 Myths about Public Liability Insurance

The Insurance industry loves jargon and it’s easy to get bamboozled by all the different terms as they blend into a haze! Let’s look at five of the key Chinese whispers you might have heard at the local pub and see if we can’t put the record straight!