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    04 Sep, 2020|

    I am a start-up business, what insurance do I need?

    There is a balance between adequate and appropriate protection of the business whilst keeping initial costs to a minimum.  Evaluate your business risks and the need for insurance under these 4 headings:

    • Assets (both physical and intellectual);
    • Revenue streams;
    • Liabilities to Third Parties (including contractual obligations);
    • People (your staff including their importance to the business).

    Usually, a package type policy covering your physical property, annual revenues, Employer’s liability and Public/Product’s liability is required.   The only insurances required by law are Employer’s Liability, Motor Liability (if you have cars/vans etc) and Engineering Inspection of lifting and pressure plant if you have them.