The focus around the adaptation to "working from home" has been at the forefront of everyone's mind in these current times. The reliance on technology, internet and digital solutions has never been more important.
If you are able to offer your services online, or by email then you will be able to continue your business activities, relatively unhindered.
With more and more contact and interaction online, the need for very specific insurance protection is crucial to the protection of any digital business.
Whilst our solutions offer all the usual solutions such as Property Insurance, Business Interruption and Legal Liability covers we also include very focussed Professional Risks insurance covers.
Property Insurance - you can choose to insure your buildings (should you own them or be responsible under your tenancy agreement) and cover all your Office Contents including IT hardware - this can be extended to cover any equipment that is taken away from the office (such as laptops, smart phones, specialist kit etc)
Business Interruption - you can choose to protect your loss of profits should the business need to close due to a specific named peril, or you can opt to cover the increased cost of working during the period of interruption.
Legal Liability - if you employ members of staff then you will have a legal responsibility to provide Employers Liability cover which is almost always sold alongside Public Liability to protect the business and members of the public.
The above are what are considered as core covers in any package policy but it is the addition of the Professional Risks insurance that really offers the most crucial protection to any digital or technology business.
Professional Risks - when you are working digitally, you are always liable to make mistakes and errors, that may lead to your client taking action against you. This is where specific professional risks (indemnity) policy comes into play, offering such protections as:
Infringement of intellectual property rights like copyright, trademark or any act of passing off;
Negligence or breach of duty: if you fail in a duty of care to your client, perhaps giving incorrect advice or making a mistake in your work;
Breach of confidentiality, invasion of privacy or a violation of any other legal protections for personal information;
Defamation: libel and slander and claims for emotional distress or outrage based on harm to the character or reputation of any person or entity;
Dishonesty of your partners, sub-contractors and self-employed freelancers;
Breach of a license where you have acquired a third-party’s trademark or copyrighted material but only to the extent your use inadvertently exceeds express limitations in the license;
Advertising: breach of a comparative advertising statute and unintentional breach of advertising codes where the claim is brought by your client;
Any other civil liability: this means that if a claim or loss occurs because of your business activities and we haven’t specifically excluded it and it’s not a criminal prosecution, it’s covered;
You may already have some form of insurance protection in place, but Gleaming Risk Services Ltd can offer a much more appropriate solution for your business.
We can provide a quick and efficient review of your covers and provide an alternative with very attractive payment options and full support throughout.
You can see what types of business we can help by reading the Technology and Digital business page on our website.
If you would like a review of your covers, then contact us HERE and we will get right back to you to begin the process.
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