Lloyds of London is probably the world’s most famous insurance market, and certainly the top Marine insurance and shipping intelligence centre. It all started in a London coffee-house in the seventeenth century. For more details, visit the Lloyds of London website.
Any group of two or more people who want to set up a profit-making business together can form a limited liability partnership (LLP), unless one of them has previously been disqualified as a company director or LLP member. It is also possible for companies to be members of an LLP.
Also known as Business Interruption or Consequential Loss insurance. Click through for more information on Business Interruption Insurance.
Anyone seeking insurance must disclose all the material facts about the risk involved that he or she knows, or that they ought to know. In other words, the policyholder should not hide anything. The trouble is, certain facts which the underwriter may deem ‘material’ may not always be known to...
Estimating the length of time during which you may still be paying for losses resulting from some interruption of business is a tricky business. But you have to make such an estimate when you take out Consequential Loss (Loss of Profits) cover against business interruption losses. You should play safe...
Any item of information or advice that can be considered as misleading.
‘Money’ is usually defined for business insurance purposes as cash, bank and currency notes, cheques, money orders, postal orders and current postage stamps. You can cover against their loss while they are on your premises and while they are in transit to and from the bank. Click through for further...
The insurance underwriter needs to assess not only the physical hazard involved in any risk, such as the construction of a building and what it is to be used for, but also the ‘moral hazard’. Moral hazard refers to the character and circumstances of the person to be insured, or...
Commercial Motor Insurance (also known as van insurance or commercial vehicle insurance) is insurance purchased for cars, vans, lorries, and other commercial vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident
This is the most common form of breach of duty towards third parties under Common Law (also known as Tort). It is the failure to do something which a reasonable person would have done under the same circumstances, or alternatively an action which a reasonable person would not have done.