There are 5.5 million businesses registered in the UK and over 99% are classified as a small business or medium sized enterprises. These small or start up businesses operate across the whole spectrum of industries and services but when does a small business reach the next tier? What is an SME? There is no single
We live in an uncertain, everchanging world and whatever the size of your company, business continuity planning for the unexpected is important. Disruption to your business can be triggered by many causes from extreme weather to a terrorist attack but having a plan in place should help recovery time. Analysing business risks Questions worth asking:
Key risks covered by business insurance policies Business insurance is there to help give you peace of mind and protect you from losses which may arise during normal business proceedings. There are a variety of different risks that can be covered and Lockyers will work with you to identify which cover you need (and just
Cyber security for businesses has become increasingly critical as hackers become more and more sophisticated. It doesn’t matter how small your business is you could still be at risk from cyber crime. Cyber-crime defined Cyber crime is criminal activity carried out via computers or the internet. Individuals or criminal groups target networks to steal personal
Risk assessments are important as they can help to avoid accidents and reduce the chance of a liability insurance claim. Accidents can cost businesses a significant amount of money through damages claimed and it’s not all about costs. People are at stake when it comes to health and safety and businesses have a duty of
Liability insurance is easy to buy but you need to make sure that the cover is appropriate for the legal and moral risks faced by your business. In the simplest sense it refers to something that causes a problem or hindrance. An example is, if your health and safety standards slip this could result in
Imagine this: after years of research and saving you decide to start your own business. Things are a little slow to begin with, but after a few months, it starts to take off. A couple of years later your business is incredibly successful, backed by a team of dedicated, hardworking employees. And then, someone makes
Fire hazards are an ever present concern. If, in the devastating event that your premises is caught up in a fire, you will need to ensure your policy fully covers you for the rebuild cost. Only 1 in 10 properties at this time, both residential and commercial, are correctly covered for the rebuild cost of
We know that no building is exempt in a terrorist attack and the businesses and property owners we help protect know this too. Recent history tells us that terrorist attacks can happen in many locations. When businesses suffer, they are often not the primary target but are based in the same area as the target.
Many UK businesses risk their own survival by remaining underinsured. This occurs when a business has insufficient cover to meet its needs, whether that means its assets are valued and insured at less than their true value, its limit of indemnity is too low or its maximum indemnity period is too short. Unfortunately, underinsurance is
