Insurance

When starting out as a small business, hiring your first employee is a big milestone. With that comes great responsibility for you as a business owner as well as an employer.

As your team grows, many more challenges come in to play, such as finding like-minded people and building the right culture. But first, you must take care of the basics. (more…)

If you’re reading this, there’s a good chance cyber security is already on your radar. That’s a good place to have it, because cybercrime is relentlessly on the up.

Data breaches, phishing scams and ransomware attacks fill the digital headlines. All of which begs the question: How do you protect your business from hackers and their devious, money-grabbing, data-stealing ways? (more…)

Cyber-attacks aren’t letting up, with corporate giants such as Facebook, British Airways and Marriott International all hitting the headlines in the last 12 months.

Yet, despite publicity around these high-profile cases, for small businesses, it’s still tempting to think that cyber attacks aren’t something that you really need to worry about. (more…)

If you are in business, or are starting up a new venture, and are providing any type of professional service to clients, you will need to look at taking out Professional Indemnity Insurance cover.

Professional indemnity insurance, or PI insurance, as it’s often called, is an insurance policy that will protect you from claims made by clients who are not satisfied with the work you have done for them. (more…)

As with owning a car, you are legally required to take out certain insurances when running a business. If you don’t you can be fined heavily and could put your entire operation at risk. It’s also sensible to have some of the many optional business insurance policies available to cushion you from nasty shocks.

With dozens of different types of insurance cover available for businesses, here’s ByteStart’s review of the main insurances that businesses ‘must have’, some insurance cover you ‘should have’, and several ‘could have’ policies. (more…)

A fire or flood can prove crippling for a small business, so you should have a plan of action in place, should you fall victim to such a disaster at your business premises.

Failing to do so could prove to be an extremely costly, or potentially fatal, oversight. So here are some practical tips to help you get things right, should you need to make an insurance claim on your business premises; (more…)

Public liability insurance will protect your business if you cause an injury to a member of the public, or property belonging to another business or individual.

You should consider taking out public liability insurance if members of the public visit you at your place of work, or if you perform work at places of work owned by third parties. (more…)

Tradesmen who are looking for the most appropriate type of insurance when setting up a business can often find themselves confused with the sheer number of options available on the market.

From the all-encompassing tradesman insurance, to policies tailored to specific trades, e.g. electrician insurance, the choice can be overwhelming. So to help you work out what policy would suit you, we’re taking a look at the compulsory and optional insurance cover tradesmen can choose from. (more…)

 
Whether you are a new startup or a large company, it’s more often than not the people who are key to the success of a business. A business that relies on a technical website or important machinery cannot get far without a top web developer or skilled operator to keep things running smoothly.

With some people being critical to the success of a business, what protection do you have in place if any of your key people die, or becoming seriously ill? (more…)

Employers liability insurance is a type of business insurance policy that virtually all firms employing someone must take out.

The fines for not having a suitable policy can be huge, so here’s what every business owner needs to know about employers liability insurance. (more…)

As much as 80% of business value is now made up of intangible assets such as Intellectual Property. In fact, we are in the epicentre of an IP revolution – with more start ups emerging, creating and innovating in ways only once dreamed of.

Best practice dictates that businesses need to protect their innovation – typically done by applying for patents, trademarks or designs. However, the battle to protect their most valuable asset unfortunately does not stop there. (more…)

Making the decision to become self-employed can be daunting, especially if you’ve been an employee on a regular salary with all the perks that can bring, like a pension, holidays and sickness pay.

The transition from this relative security to going it alone is not always easy, but there are steps you can take to help protect you financially should the need arise, allowing you to concentrate on growing and developing your business. (more…)

2.1 million businesses are run from home according to research and 60% of new businesses are started at home – that’s 1,400 a week.

One thing that many people don’t think about with their home-based venture is insurance. Existing house insurance policies are designed to cover domestic arrangements, and may actually be invalidated by you working at home.
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As a company director, there are certain demands placed on you – not least the requirement that you act at all times in the best interests of your company.

So what happens if something goes wrong? (more…)

If your new business venture is a shop, pub or restaurant, there are a number of unique risks you will need to insure against.

Unlike an internet-based business or one run from an office, you will have greater contact with the public. And in the legally-aware society we live in, that exposes your business to a greater risk of being sued.

Before you sign the lease on your first premises, use this guide to the insurances you may need.
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Like private vehicles, business vehicles and vans must be insured, with minimum levels of cover a legal requirement.

But like many things in the business world, cutting back on initial costs can prove to be false economy in the long run – so what should you consider when arranging your business vehicle cover, and when should you consider putting up a little extra cash? (more…)

Contractors and freelancers provide professional advice and services to clients and as such, might well be liable for any mistakes or errors they may make in the course of their duties.

As a result, contractors should take out insurance cover just in case something goes wrong. In many cases, clients will insist that a contractor is covered by a professional indemnity policy before hiring them.
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As a business owner, you will encounter a wide range of business insurance policies, some of which are mandatory, and others which are simply sensible to have in place.
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For many small business owners whether they are plumbers, electricians, builders, or designers, the thought of being the recipient of an insurance claim for injury or property damage can be stressful.

Without adequate insurance cover, costly claims could even put your business at risk. (more…)

Office insurance is both broad-ranging and highly specific, as paradoxical as that may sound.
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Taking out landlords’ insurance is not only a wise decision if you’ve got a property portfolio to protect; it may also be a legal necessity.
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Tax investigation insurance will protect you in the event that an enquiry is made into your tax return, or via a PAYE compliance visit. In some cases, this could result in a Tax Tribunal (formerly Commissioners’ Hearing).
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