Commercial and Professional Insurance
Commercial Insurance
What it is: Commercial insurance protects the business itself (its assets, operations, and employees) against everyday risks that could disrupt continuity or cause financial loss.
Key Features:
- Property cover - Safeguards buildings, equipment, and stock against fire, theft, or damage.
- Business interruption - Covers lost income if operations are halted due to insured events.
- Liability protection - Shields against claims from third parties for injury or damage.
- Employee cover - Options for workers’ compensation or group benefits.
- Fleet insurance - Protects company vehicles used for business purposes.
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Who it’s for:
- Any business (from SMEs to large corporations) that wants to secure its physical and financial foundation.
Professional Insurance
What it is: Professional insurance (often called Professional Indemnity Insurance) protects individuals and firms who provide advice, expertise, or specialised services. It covers claims of negligence, errors or omissions that may arise in the course of professional work.
Key Features:
- Professional indemnity - Covers legal costs and damages if a client claims your advice caused them loss.
- Errors & omissions - Protection against mistakes or oversights in service delivery.
- Legal defence - Pays for representation and court costs in disputes.
- Reputation management - Some policies include support for PR/crisis communication after a claim.
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Who it’s for:
- Consultants, accountants, lawyers, engineers, architects, medical professionals, IT specialists - anyone whose expertise could expose them to liability.