Do All Businesses Need Business Insurance?

In short – yes. Operating a business carries many risks. As your business evolves through its life cycle so do the risks you are exposed to, therefore your business insurance needs to change with the growth. Every business is unique, and by working with our experienced team you can be confident that you will have the most suitable protection. We work with our clients in a wide range of sectors to proactively plan and provide an insurance solution no matter how small or complex the risk may be. 

We work with you to assess the risks inherent in your business and develop a tailored insurance programme to give you the peace of mind that you are covered in the event of an incident. You can therefore focus on operating and building your business with confidence. At LHK Group you can be certain of our insurance brokers’ personalised service throughout the year.

We can arrange optimal cover for your business across a wide range of products: 

Commercial Insurance Combined Packages

Our commercial combined packages provide cover for material damage, business interruption, liability, money, glass, computers and fire brigade charges.

We can arrange a commercial combined package which can be tailor-made to suit your business requirements. 

We offer cover for a wide range of business types including the following:

• Retail
• Offices
• Property Owners
• SMEs
• Apartment Blocks
• Shopping Centres
• Multinationals
• Schools
• Churches
• Sports/Leisure
• Petroleum/Oil Distribution

Commercial Legal Expenses Insurance

Commercial legal expenses insurance protects against the potential costs of legal action brought by or against your business. 

Some of the many benefits commercial legal expenses insurance covers are as follows:

• Cover for Employment Disputes and Financial Compensation Awards
• Legal Defence Costs
• To pursue claims following property damage to your business or in the event of bodily injury for you and your family
• Cost of Revenue Audits
• Access to a full Employment Manual
• Helplines – 24-hour access to legal advice

Commercial Liability Insurance

Liability insurance is required to protect your business against negligence claims. It provides your business against claims resulting from injuries and damage to other people or property.  

The LHK commercial lines team have years of experience advising all types of businesses, across multiple industry sectors. We can tailor your liability cover according to your unique business circumstances.

Employers Liability

Providing a safe place to work is essential to protect both you and your employees. Employers Liability provides cover for accidental death, illness, injury or disease sustained by your employees during their employment by you.

Public Liability

This provides cover for your legal responsibility to your customers in respect of death, injury, illness, and disease or property damage caused by you in the course of your business.

Products Liability

This protects you against any injury or damage to third party property that may arise as a result of the products you have sold or supplied.

Commercial motor insurance

This protects a range of vehicles used for commercial purposes.

Commercial motor insurance policies can cover up to 4 vehicles on one policy and can be extended to include the extras such as windscreen cover, breakdown and protection for your No Claims Discount and can even arrange cover for the tools in your vehicle. There are many different types of commercial motors such as Light Commercial vehicles which are typically 2 door vans with a storage area in the back and no rear seats and no rear side windows, and Heavy goods vehicles that are constructed for the carriage of goods and exceeding 3,500kg in weight. 

Due to our longstanding relationships with Insurers, LHK can compare the market and negotiate preferential rates on your behalf.

Commercial Property Business Insurance

We have experience in placing risks for a wide range of commercial property types from small shops or office units, apartment blocks, industrial units and large commercial properties.

If you or your business owns a property that’s rented, tenanted or unoccupied, it’s important to protect your investment against financial loss or physical damage to your assets.

Regardless of tenancy, we can arrange the most suitable cover at the right price.

A standard property owner’s policy will cover the property for material damage, contents or landlord’s fixtures and fittings as well as property owners liability. Our clients include single and multi-investment property owners as well as management companies. 

We recommend that you shop around particularly if you have recently acquired the property and or if your tenants have recently changed. We would be delighted to complete a review of your existing cover at our expense. 

Contractors All Risk Insurance

Contractors All Risks insurance provides coverage for the main types of risks on construction projects – property damage and third-party injury or damage claims.

As a contractor carrying out work for your customer, you need to ensure that the property you are working on has cover for materials being used, and the property under construction is insured against losses arising from Fire and Perils or accidental means. The policy can be extended to include your plant, hired in plant and employees tools.

This cover is aimed at a wide range of occupations including:

• Building Contractor
• Carpenter
• Plumber
• Electrician
• Scaffolders
• Roofers
• Plasterers

Credit Insurance

Providing goods and services on credit is an essential and inherent part of doing business. But it doesn’t come without risk. What if your client defaults on payment or becomes insolvent before you’ve been paid?

Credit insurance is suitable for almost any company providing goods or services on credit to other companies, regardless of scale or industry and is used for both domestic and export trade. When your business has a credit insurance policy in place, you can forge ahead with the confidence to take on new commercial opportunities and new customers, knowing that your business is protected, should non-payment occur. We have the in-house expertise to arrange a credit insurance policy for you which can reimburse up to 95% of the cash and help secure the future of your company.

In addition to covering you for any losses, a credit insurance policy will also provide ongoing risk reviews of your customers, so that you can make better choices about how and who you do business with.

LHK Group has unique expertise in the area of credit insurance. Before joining LHK in 2022, Sinead Wolfe worked with one of Ireland’s leading Credit Insurance companies for 14 years. Sinead’s approach is about offering advice and best practice guidance on all the aspects of the credit management process including credit risk analysis, credit management best practices and debt collection. If you would like to discuss the benefits of a credit insurance policy or attain a quote for your business, please contact .

Cyber Business Insurance

Our team are very familiar with the digital risks businesses are exposed to and we are well placed to support and protect your business. Property and liability insurance often take precedence with many clients not seeing the value in standalone cyber policy. While there may elements of cover within traditional insurance policies, it tends to be partial cover at best, falling very short of what is covered under a standalone Cyber policy.

Most information is now transferred digitally and Covid-19 has certainly accelerated this. The shift to remote working is believed to have generally increased security vulnerabilities.  

Typical covers under a standalone Cyber Insurance policy:

• Data Breaches
• Business and Network Interruption
• Intellectual Property Rights
• Damage to Third-Party Systems
• System Failure
• Cyber Extortion

Directors and Officers Insurance

The requirement for Directors & Officers Liability Insurance cover is increasing by the day and all Directors and Management are at risk. LHK Group Insurance brokers are available to ensure you have the right Directors & Officers’ liability Insurance cover in place.

Leading a business means making important decisions, which can sometimes mean making the wrong decision.

D&O insurance (Directors & Officers Liability Insurance) provides financial protection for the potential defence and damage costs for the leaders of an organisation if a claim is made against them due to decisions or actions they have made during their regular duties. There is a common misconception that it is only for companies but it is also required for committees, charities, sports clubs and the like.

Cover can be extended to include Entity Liability Insurance, Crime Insurance, Pension Trustees Liability and Employment Practices Liability – designed to protect employers against claims from employees for sexual harassment, discrimination, wrongful termination and other employment-related litigation.

Engineering Insurance

Plant and machinery involve a significant financial outlay and are the centrepiece of any manufacturing business. You need to be covered if something goes wrong. 

A technical malfunction or operating error can lead to machinery breakdown as well as physical damages to plant and equipment followed by consequential business interruption.

We have experience arranging Engineering and Machinery Insurance for small and large companies across many sectors including construction, manufacturing, engineering, retail, distribution and motor trade.

Our team have wide market access across Ireland, the UK and Europe. We can arrange cover for plant and machinery installed at the premises, either on an individual item or a blanket basis. Cover can include theft, accidental damage or fire.

Farm Insurance

Farming, by its very nature, carries many risks. Let us review your requirements to ensure you have the best insurance cover available at the best rates.

Our Drogheda team have many years of experience looking after the insurance needs of farmers and those involved in the agricultural sector.

We understand how important it is to protect your livelihood and ensure you have adequate cover in place. 

Let us use our experience and market access to identify the cover you need for your farm vehicles, buildings, machinery, livestock, produce and employees.

Group personal accident insurance

Your people are your most valuable asset. You want to be able to protect your employees against accidents in the workplace. 

We can provide a comprehensive range of products for both the Individual (& their families) and for the Employer whether large scale business, SME or Sole Traders.

Our offering can be specifically targeted towards and customized for Employer focused Group Personal Accident offering protection to both a business and its employees.

Policies are designed to protect against the adverse financial consequences of accidents or illnesses of employees. 

Marine Cargo/ Goods in Transit Insurance

As goods are transported by land, air, or sea, keeping control of your assets becomes increasingly important.

Goods in transit insurance cover property against loss or damage while it is in transit from one place to another or being stored during a journey.  If you are shipping your goods by sea then you would take out marine cargo insurance. This also includes the transit of cargo over land at each end of the voyage.

We can arrange the appropriate cover to give you peace of mind that should the goods be lost, stolen or damaged whilst in transit, you will have the necessary cover and receive adequate compensation to protect your business operation.

Motor Fleet Insurance

Your fleet of vehicles is a significant investment and key to a successful and efficient business operation. Having motor fleet insurance will give you the peace of mind for you to focus on your business.  

Vehicles on the road represent a sizable proportion of the risk the company carries as driving is among the most dangerous work activities. From missed deliveries and unproductive downtime, replacement staffing and the high costs and delays associated with repairs, the costs of even a minor accident can escalate. You also want to protect your people who are driving company vehicles. 

You can qualify for a Motor Fleet policy when you have 3+ vehicles to insure. We can incorporate private cars, commercial vehicles and special type vehicles. 

The main benefits include the following:

• Open Driving basis
• Annual Declaration
• Blanket Certificates and Discs to cover all vehicles
• Optional covers such as Contingency cover for employee vehicles and Occasional Business Use

Motor traders insurance

Are you a motor trader involved in servicing repairs, buying & selling vehicles?

Motor trade insurance will give you the ability to drive all of your cars and vans as well as your customer vehicles.

You will need to consider the following risks:

Road Risks – Business Insurance

To cover you & your employees to drive any vehicle which is in your custody or control as a motor trader for business use. Cover can be extended to include social, domestic & pleasure use.

Internal Risk – Business Insurance

This covers Public Liability on the premises and can be extended to include Employer’s Liability, faulty workmanship & product cover.

Material Damage – Business Insurance

To cover the buildings, fixtures & fittings owned or leased by a motor trader.

Motor trade insurance is a complicated area and we have many years of experience working with clients in this industry. Let us help you to understand the various covers and ensure we provide the optimal solution for you as your business grows.

Business Insurance for Your Office

This insurance is required for a wide variety of professional trades. Generally a competitively priced policy, it provides a package of covers to protect your equipment, computers, loss of revenue and liabilities. 

Office insurance is suitable for a wide range of businesses of all sizes and occupations and professions that are run from commercial property. We have experience working with Accountants, Architects, Engineers, and Solicitors in helping to place their office policies.

Traditional standard covers include:

• Office contents including Business Records and Computer Equipment
• All fixed internal and external glass
• Fire Brigade Charges
• Loss of Money and Personal accident assault cover for staff
• Business Interruption
• Employers and Public Liability

You can also consider some optional covers:

• Buildings depending on the office being leased or owned by the business
• Commercial Legal Protection
• Computer Breakdown includes increased cost of working and reinstatement of data
• Employee Fraud
• Goods In Transit to cover any property carried in company vehicles

Professional indemnity insurance

If you give professional advice you require Professional Indemnity Insurance.

The Professional Indemnity market conditions are extremely challenging and it is therefore important to engage with a reputable broker who has experience in this market.

LHK have the ability to access the Lloyd’s and London markets, in addition to the UK and Global composite insurers.

We will work on your behalf and present your risk in such a way to ensure we can deliver value for our clients.

Professional Indemnity cover provides protection for the insured and employees against their legal liability towards third parties for their professional negligence in the event of a financial loss. Professional Indemnity Insurance is essential particularly for:

• Accountants
• Architects
• Engineers
• Estate Agents
• Surveyors
• Solicitors

Shop and Retail Business Insurance

A busy retail environment can be associated with a high claims frequency and it is essential to have adequate business insurance. 

Whether you are a small corner shop owner, a supermarket chain or a tenant in a large shopping centre, we have experience placing these risks which your business faces every day.

For most, shopping is event-free but each year shoppers become the unfortunate victims of accidents in shops, supermarkets, and shopping centres. When you do have to make a claim, we will ensure we act on your behalf and proactively manage the claims process with the insurer.

There are numerous types of insurance cover required within the retail industry:

• Buildings cover to protect against damage caused to the structure of the building in the of fire or flood etc
• Fixtures and Fitting/Contents cover which vary depending on the retail sector in which you operate in
• Stock cover which should be insured for the cost value
• Money cover to cover cash which you hold at your premises
• Public, Products and Employers Liability cover
• Treatment risk is covered in the case of businesses which provide personal services
• All Risks cover computer equipment

Special Types of Vehicles Insurance

These insurance are vehicles which have a special commercial purpose and may or may not be used on public roads.

Special types of vehicles are largely used in the Logistics, Warehousing, Manufacturing, Construction and Agriculture industries.

A special type of vehicle can include:

• Forklifts
• JCB type diggers
• Small Dump Trucks
• Teleporters
• Harvesters

We can arrange a suitable cover for you and also extend the cover to include Third Party Working Risks Cover.

How do I get a quote for my Business Insurance? 

Our experienced team can arrange cover for you across all types of business insurance and home insurance policies. The following products are what we can help you with: Home insurance, Car insurance, Gadget insurance, Marine insurance, Personal accident insurance, Self-build insurance, Travel insurance, Commercial legal expenses, Commercial liability insurance, Commercial motor insurance, Commercial property insurance, Contractors all risk insurance, Credit insurance, Cyber insurance, Directors and officers insurance, Engineering insurance, Farm insurance, Group personal accident insurance, Marine cargo/ goods in transit insurance, Moter fleet insurance, Moter traders insurance, Office insurance, Professional indemnity insurance, Shop and retail insurance and Special types vehicles insurance.

If you are interested in starting a new business or securing your current one, contact an insurance broker to discuss your options.