Thursday 28 December 2017

Insurance Policies Relevant To The Job Of A Chauffeur


There is always an element of risk involved in driving but this risk becomes even more when the car being driven belongs to someone else. But it is a very good choice for a professional career for people who love to drive cars. However, because of the ever prevalent risks involved, it is also necessary for a chauffeur to have all the relevant insurances in place. This will not only help him to minimise his financial loses but also ensure that he is able to bounce back from any set back suffered pretty soon.

 The type of insurance that a chauffeur will need depends on the requirements of the state from where he needs to get his license. There are some legally mandatory insurance policies which the chauffeur needs to have in order to get his license. There are also other important insurance policies which he needs to have as a precaution for any accidents that might occur, if at all. Even though there are no legal compulsions to these policies, having them in the kitty is pure common sense since they help the chauffeur in ways which need to be experienced to understand the benefits.



Some of the important insurance policies that a chauffeur needs to have are:

Motor insurance: This is a legal necessity for any person who drives vehicles on roads and public highways. This insurance provides protection for cars and other vehicles which ply on the roads. The main aim of this insurance is to provide protection in case the vehicle suffers any physical damage as a result of a collision or an accident. It also makes provisions for any other liabilities that could arise from these accidents.

Public liability insurance: Irrespective of whether a person drives his own car or someone else’ car, getting a public liability insurance is vitally important for him. This is because it protects the chauffeur from costly claims and settlement demands which might arise from any:

o Accidental damages caused to third party or client property,
o A client, customer of third party getting physically hurt or suffering bodily injuries,
o Need to contest a claim or fight a litigation case in the court of law whereby all legal fees incurred are paid by this insurance,
o Instances wherein a chauffeur is unable to carry out his duties for the short period of time as required when he is convalescing from an injury or from some sickness.
Employer’s liability insurance: This, again, is a legally important insurance to have for those self-employed chauffeurs who have employees working for him. In fact not having this insurance can incur punishment in the form of cash penalties etc. This insurance also helps to provide monetary coverage for employees either hurt in an accident or fall ill during the course of their jobs.
Personal accident and sickness insurance: As the name suggests, this insurance takes care of self-employed professionals who are not able to work for the time being because of either:
o Physical injuries or bodily harm suffered in an accident or
o Are otherwise sick enough to have to temporarily skip working for some time.
It achieves this by way of a weekly benefit which it provides to the insured chauffeur so that he is able to pay his utility bills, take care of his daily needs etc. In instances wherein the chauffeur might be unable to resume his duties permanently due to a debilitating injury or illness, a lump sum amount is given to the insured person.

Legal expenses insurance: The job of a chauffeur is quite vulnerable to legal actions being taken.



Thus in order to cope up with and contest the many different types of legal actions that can be taken against them, legal expenses insurance is a must. It cover all the legal expenses incurred till such time as the case is subjudice and does not come to a satisfactory conclusion.
Other insurances like the property insurance, the equipment and tools insurance etc., are all optional. Thus the chauffeur will commit to the same if he feels like it. However, care must be taken to select the correct type of insurance after taking into account both the coverage offered and the premium to be paid so that he is able to continue the same in the future.

Thursday 14 December 2017

Public Liability Insurance Policies For Ground Workers in the UK


The Salient Features Of Insurance Policies For Ground Workers



 Irrespective of the precautions one takes and the training one receives, accidents do happen. And no one knows this better than the ground worker who faces risks which are unique and at times quite deadly. It is thus very difficult to predict the risks that await a ground worker when he reaches his worksite every morning. Protection against such eventualities is thus very important for the ground worker who has his family depending on him probably for their livelihood.

There is also a need for the ground worker to stay fit and healthy and in the instance of an accident, to regain his health as soon as possible. Thus the need for the ground worker to own an insurance policy is in no way lesser than the other self-employed or employed people. Ground workers are employed in a number of different work areas. Thus the insurance also needs to be flexible enough to incorporate all the areas that he can work in. Additionally jobs which carry relatively more risk than others need to have specific insurance policies dedicated to the same. Some insurance policies which are of great help to the ground worker are:



  • Public insurance policy: This policy covers the self-employed ground worker in the following three ways:
  • Settlement of claims suffered by a third part either because of damage to property or physical injury,
  • Settlement of legal fees incurred to contest claims and litigations and
  • Offering financial help if and when the ground worker is without a job for a few months.


For the ground worker, running a small operation, any financial settlement can cripple the business. This policy ensures that the same does not happen and is thus of great benefit for the self-employed ground worker.

•Employer’s liability policy: This covers ground workers working for a company or an individual. In this any physical injury incurred by a ground worker or any serious illness suffered as a result of working for that company or individual is taken care off financially. Hence all medical bills for this period are covered under this policy. Of course if the ground worker is self-employed and also has employees working for him, it is legally mandatory for the ground worker to get this policy.

Personal accident insurance: This is perhaps the most important policy that every ground worker must have. This policy protects a ground worker against all eventualities and risks faced on the work site. Thus financial help is meted out for :

  • All medical bills generated in the treatment of an injured or sick ground worker,
  • Loss of income incurred due to accidents etc.

Business equipment insurance: This insurance policy covers damage or loss of equipment owned by a self-employed ground worker. Thus in case he needs to replace the equipment, he can get financial help from this policy.

Certain things which should be kept in mind when availing any insurance policy are:
The ground worker must read and understand all the terms and conditions before purchasing any insurance policy. These terms and conditions should not be biased towards the insurer.
In the instance of opting for business equipment insurance, the ground worker should never underestimate the replacement cost of the same. In fact he should keep it a bit escalated so as to factor in any increase in prices.
If a ground worker has employees he needs to opt for the employer’s liability insurance and the failure to do the same can attract heavy fines by way of punishment.
The business the ground worker is in should be covered in the list of businesses for which the insurer offers coverage. In case the same is not covered, special sanctions need to be taken to ensure the same.
Quotes of different insurance providers needs to be analysed and compared so that a ground worker can opt for the best possible insurance in all aspects.
The premiums that need to be paid should be optimal and conducive to the benefits mentioned.
The main aim of a ground worker should be to get the best possible cover by paying minimum premium for any insurance policy purchased. Also care should be taken to ensure ample coverage can be availed when in need so as to take full advantage of the premiums paid to keep the insurance policy active.

Monday 11 December 2017

Public Indemnity Insurance UK




Public indemnity insurance protects you from claims and legal costs arising from defending against compensation claims. If you, as a member of public, in professional capacity, are deemed by a client to have provided inadequate service or advice, then you can face public indemnity insurance charges.
Situations where you may face such charges include professional negligence, loss of data, breach of trust, breach of copyright, libel, and loss of goods or money.



Public indemnity insurance is not a legal requirement; however, it can save you a lot of bother and give you the peace of mind that you are covered against situations that consultants and service providers have to face. Also, many industries require that practitioners have a minimum level of insurance cover, and often this cover includes professional indemnity cover. Accountants, teachers, financial advisors, mortgage brokers, designers, fitness professionals, architects, lawyers, and those who offer consultations need this insurance even if they seek employment on a contract basis. In fact, many firms make public indemnity insurance a requirement for bidding on contracts.

Legal requirement apart, without this insurance you may end up paying thousands of pounds as compensation and also spend significant amounts on legal costs. You would be spending time pursuing such cases instead of working on your business. Your brand will suffer, and you may lose out on lucrative projects.

Such claims can be a drain on your professional and personal financial resources. This holds true for both small and large businesses. You must work with the assumption that even though you strive to provide the best possible service, mistakes will occur. And when this happens, you may face liabilities. Only adequate and appropriate insurance can bail you out of such situations.

You cannot depend on your relationships with a client to escape financial indemnity for a mistake. Compensation is a client’s right. The right kind of professional indemnity for your business will depend on the kind of work that you do and the risks that you face. If you seek cover for a particular contract, then the extent of cover will most likely be decided by the client. As a rule of thumb, calculate legal costs and claim amount for the worst mistake that you could make and obtain cover for that. This should give you financial backing for all scenarios. Public indemnity insurance fills a vital gap that general insurance does not cover. Regular commercial liability insurance may protect against costs related to property damage and bodily harm but do not offer security against claims related to failure in performing one’s duty and possible negligence. Even if the mistake on your part is inadvertent, you have to be ready for a claim that could come your way. Basically, this insurance protects you from mistakes that happen due to errors and omissions, and sometimes downright negligence. Public liability insurance also protects employees’ deferred compensation from a company going bankrupt or facing claims from clients. When seeking public indemnity insurance, check the policy document to ensure that the insurance will protect you against claims filed during the time the policy is in force. Ask the provider if it can create a policy with a retroactive date. Such a backdated policy lets you avail security for work that you carried out when you were uninsured.

Getting a quote on public indemnity insurance is quick and easy. You may want to consult the insurance provider for the right amount of cover given your trade. It is possible that your trade may not be covered for this insurance. In such cases, a separate public indemnity insurance policy can be made for you.

The investment in this insurance is not high, but the peace of mind that accompanies this investment is well worth the money you spend on this insurance.

Wednesday 15 November 2017

Types of Insurance covers in the UK



The value of a particular insurance cover cannot be assessed by its legal necessity. Many optional insurance covers, are in fact, vital for the successful running of a tradesman’s business, regardless of whether you are a one-man show or a contractor.

Here is a breakdown of six vital insurance covers that you must include in your umbrella insurance policy for securing your business against sudden financial upheaval from injuries to clients, employees, third parties, legal wrangles with suppliers and distributors, loss of tools and equipment, client data getting compromised, etc.
In the insurance sector, if only a few covers are mandatory, SMEs and VSEs often have an interest in taking out Getty Images
The work done by builders, plumbers, carpenters, electricians, and other tradesmen influences the lives of others. Poor workmanship can lead to loss of life and livelihood for clients.

1. Property insurance 

– Your business needs cover to ensure that your owned or rented business premise is protected from risks that include fire, flood, and theft. Warehouses, factories, and offices are vulnerable to these risks and damage can set back a business in a big way. You may be asked to submit invoices for the repair and replenishment work done, before the insurance company reimburses you according to the terms of the policy. Find out about the damages automatically included in the policy, and those that are an add-on and must be purchased separately.


2. Insurance against operating losses 


– It’s an insurance to cover the fixed costs of operation while you work to get your company back on feet after a disaster. With this cover, you do not have to worry about salaries and loan interest repayments. It is a worthwhile insurance for many SMBs because when you’re busy trying to pay for office space after a disaster at the old one, and taking stock of losses, your business will suffer if employees are not paid. Find out the duration for which the insurance company extend help in the event of such calamities. Does the company offer cover to offset any losses caused by business disruption arising because of suppliers and subcontractors?

3. Vehicle insurance 


– Cover against damage caused to others by your vehicle gives you peace of mind. There is always a risk that a third party gets injured or property damage occurs when you’re using the vehicle in the course of work. The premium paid depends on the number of vehicles to be covered, make and model of vehicles, routes on which the vehicle will operate, etc. The other aspect of vehicle insurance relates to cover for damage to the vehicle in an accident.

4. IT risk insurance- 


Computers are ubiquitous. Insurance against risks to computers and IT infrastructure will give you peace of mind. Regardless of trade, your business uses computers to store invoices, receipts, sundry transaction details, maps, plans, and customer details. Loss of data through damage or theft can be a huge setback, and replacement of hardware or software is a cost. Lack of connectivity can hamper work, set you back financially because of penalties, and hurt reputation. IT risk insurance is necessary for tradesmen.

5. Environmental risk insurance 


– If your work poses a hazard to the environment through air pollution, water pollution, soil pollution, groundwater pollution, etc then you must have this cover to protect you from unforeseen penalties. Penalty costs cover expenses to remove pollutants from the immediate environment, damage assessment costs, and administrative costs for the entire process. Check if the work you do is subject to specific norms and requires separate cover.
Public Liability Insurance


6. Professional liability 


– Though optional legally, this insurance is vitally important for most businesses that offer consultation. It covers you in case of defending against claims arising from losses incurred because of the advice you gave, suppression of facts on your part, negligence, and misrepresentation. Liabilities not covered by other common insurance types are covered by professional liability insurance.