Commercial Crime Insurance

We offer two limits of indemnity – £50,000 and £100,000. The excess is dependent on your company turnover, however if your turnover is under £500,000 (on our Freelance scheme) then the excess will be £2,500.

The policy starts from only £75.00 per annum, which we think represents good value for money considering the level of cover and peace of mind that you get from the policy.

• You are contacted by the fraud team at your bank advising of suspicious activity on your account. They have given you the account details of a safe account and advised you to transfer your money or they will not indemnify you for future losses. You oblige, but you did not realise that it wasn’t in fact the bank calling and you have lost the money you transferred.
• You receive a letter chasing an invoice and advising of new account details. The invoice details are correct and reflect the amount you are due to pay. You pay the invoice and it is only when you are chased again for payment a few weeks later by the authentic creditor that it becomes apparent that the new bank details were those of the fraudsters.
• You open an email purporting to be from a courier service. Without realizing it, you have inadvertently loaded spyware onto your computer allowing a third party to track your key strokes. Logging into your bank account provides fraudsters with what they need to access your account.

Commercial crime insurance will not provide cover for the following:

• Client Cover – the policy will only provide cover for your business assets and not those you hold in trust on behalf of someone else.
• Indirect or consequential losses.
• Kidnap, Ransom or Extortion – please contact us if you require this cover, more suitable policies are available.
• Past Knowledge of Fraud – coverage stops at the point where you have reasonable suspicion that a crime is being committed, losses after this point are not included.
• Trading Losses.

Professional indemnity insurance (PI) will provide cover for business professionals who provide business services, advice or designs to clients and will cover against claims of negligent work.

Public liability insurance (PL) is designed to protect your business against third party claims for injuries or property damage.

Employers liability insurance (EL) will cover the cost of defending or settling a claim against you from an employee who has suffered injury or disease as a result of the work they do for you.

It is important to be aware that as a self-employed business owner, a claim can be made against you personally with unlimited personal liability, therefore Directors and Officers insurance is a valuable insurance policy which will cover you in this instance, which is provided as part of our Business Combined Liabilities insurance product.

Legal Expenses insurance will also provide cover for costs incurred from a legal occurrence or claim that your indemnity and liability insurance does not cover, including the costs incurred from an IR35 tax investigation.

Cyber insurance, also known as cyber liability insurance, will cover your business in the event of a malicious attack on your computer systems and your data.

Personal accident insurance can provide cover for your loss of earnings while you are unable to work due to a work-related accident or illness caused by your work.