Asset Protection Insurance
What is Asset Protection Insurance?
This type of policy is held in trust on behalf of your business and provides financial protection for your personal assets. In its simplest form, it could be described as a ring-fenced financial reserve that can only be called upon when a PI insurance policy is not sufficient enough to cover a sizeable claim.
One of the biggest benefits of this type of policy is its flexibility - it can be tailored to suit the financial and legal needs of your business, making each policy unique.
How does it work?
Asset Protection Insurance not only gives you long-term financial security against the unexpected, but it also provides you with the peace of mind you need when running a business.
Any policy of this type can help your business:
- Recover any loss of profits you may sustain due to third-party compensation payouts
- Recover any contribution from your personal assets to recapitalise your business
- Protect your loss of investment if your business is liquidated.
Why is it important?
The main reason to take out a suitable Asset Protection Insurance policy is to insulate your business and your personal assets from the claims of any creditors.
Debts and mortgage obligations to third parties and vendors, claims for damages caused by your employees, product or professional liability and consumer-protection issues are just some of the risks you may have to deal with. Unfortunately, some of the more ferocious issues can cause severe, often irreparable damage - especially to small businesses in their infancy.
Holding an Asset Protection Insurance policy can bring in suitable legal protection that can deter a potential claimant or protect from the seizure of assets after a judgement.
For more information on Asset Protection Insurance, speak to our team today.
Revenue Protection Insurance
A Revenue Protection Insurance policy protects your business against any significant drop in income, generally as a result of the incapacity of a key person or building, regardless of whether you are a retailer, manufacturer or wholesaler. It can also offer protection to businesses offering specific professional services.
Legal Liability Insurance
A Legal Liability Insurance policy protects your business from potential compensation claims that follow from negligence brought against you by employees, clients, customers or members of the public.
Protecting the people that work for you is absolutely vital in any form of business. Employee Protection insurances are designed to provide financial support to members of staff that suffer serious injury or illness, or a fatal accident.
- Top 100 UK independent broker* with Chartered Insurance Broker status
- Free no obligation review and quotation
- Talk to a dedicated insurance expert to guide you through the process
- Bespoke levels of cover tailored to your individual requirements
- Competitive premiums underwritten by the UK's leading insurers
- Dedicated in-house claims team who will deal with any claim on your behalf
- Payment of premium by monthly instalment available (subject to status)
- Free access to online risk management services
* Top 100 Independent Brokers 2013 published by Insurance Age in association with Cornell Consulting
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