We understand that Insurance can be complicated, with the use of
techincal terms and complicated jargon. To help you be clear on the
cover that is best for you and your business, we have explained our
cover to help you make sense of insurance terms. So whether you’re
a sole trader, in partnership or a limited company we have advice
that will help your business.
Public liability insurance protects your business against injury
to a third party or their property, as a result of negligence on
your part.
What is public liability insurance?
Standard public liability (PL) cover indemnifies the insured
against compensatory damages and claimants costs/expenses in
respect of legal liability for accidental injury or property damage
arising in connection with the business.
For instance, if an electrical contractor installed wiring which
subsequently caused a fire and burnt down a building, that
contractor could be held liable for their negligence in installing
it. If found to be at fault, the contractor’s public liability
insurance would pay up to the maximum limit of indemnity shown on
their policy schedule.
Please note: Public liability insurance does not cover motor
incidents, so you must have an appropriate motor policy in force to
cover vehicles used for your business. NICEIC Insurance Services
provides Van Insurance. Find out more about our Van insurance
Who is the product applicable to?
It is a requirement of membership with NICEIC that all
registered contractors have a minimum of £2million public liability
insurance cover if working at a third party premises.
What are the benefits of taking out this type of cover?
All NICEIC registered contractors and applicants who take out
public liability insurance cover with NICEIC Insurance Services
also benefit from automatic products liability coverage up to an
equivalent limit of indemnity.
Products liability insurance protects your
business against accidental bodily injury to a third party or
accidental damage to their property, arising from goods sold or
supplied in connection with the business as a result of negligence
on your part.
NICEIC Insurance Services public liability insurance can also be
extended to include work undertaken by bona fide sub contractors,
work undertaken by temporary employees (maximum 50 working days
between all temps), jury service compensation and work carried out
on alarm and security installations (with the option to choose
limited or full efficacy cover).
Get cover now!
Get public / products liability cover today by contacting NICEIC
Insurance Services on 0845 601 2376.
Alternatively you complete our enquiry form and one of our
experienced Account Handlers will contact you shortly.
Find out more about the benefits of the NICEIC Policy
Excess layer insurance is specifically designed to meet the
increasing needs of businesses requiring high levels of public
liability insurance cover - for example in order to undertake a
specific large scale contract or because the nature of the work
requires it.
The NICEIC Insurance Services’ policy includes a limit of
indemnity of £2million as standard, with the option to increase
this to £5million. However some companies, for example those who
undertake contracts on behalf of a local authority, the NHS, or
companies and contractors undertaking a specific aspect of one of
these large projects, may well be required to provide additional
insurance such as £10million in order to comply with the
contractual requirements of the project.
An excess layer policy will provide the additional cover
required and can be arranged at the same time as your main public
liability cover.
Employers’ liability insurance covers your
legal liability for accidental death or injury to employees
(including claimant’s costs and expenses) arising from activities
in connection with the business and as a result of negligence on
your part.
Who is employers' liability insurance applicable to?
Under the Employers’ Liability Regulations 1998, employers’
liability is compulsory for any individual or company with
employees. You are only exempt if you run your own Limited company,
with yourself as the sole employee, and you own 50% or more of the
issued share capital. If you are unsure whether you require this
cover or not contact NICEIC Insurance Services for advice.
A valid employers’ liability certificate must be displayed at
your place of business and where you have employees working, or
since 1st October 2008, provided all of your employees have access
and are aware of the location your certificate can be stored
electronically.
Since October 2008 there is no longer any legal requirements to
retain previous certificates, however we recommend that they are
stored in a safe place after they expire, in case of future claims
from current employees.
The compulsory limit of indemnity is currently £5m and this is
the figure which will be stated on your insurance certificate.
However insurers will normally provide £10m worth of cover as
standard (which is noted on the policy schedule). Cover generally
includes legal costs in the event of a Health & Safety
Executive (HSE) investigation.
What are the benefits of taking out this type of cover?
NICEIC registered contractors or scheme applicants can take
advantage of employers’ liability insurance which is specifically
tailored to meet their needs, taking into account the different
types of workers who may be involved in the business.
Get cover now!
Get employers' liability cover today by contacting NICEIC
Insurance Services on 0845 601 2376.
Alternatively you complete our enquiry form and one of our
experienced Account Handlers will contact you shortly.
Find out more about the benefits of the NICEIC Policy
Offers cover for professionals against accusations of bad advice
from clients.
What is professional indemnity insurance?
Professional Indemnity cover protects your legal liability to
compensate third parties should they sustain any injury, loss or
damage due to professional negligence on your part.
For example, if you undertake periodic testing and/or inspection
of another person’s work and certify it to be adequate, but then
there is a fault resulting in a financial loss to the customer,
this would be covered under your professional Indemnity cover. If
however you only test and inspect your own work there is no need
for professional indemnity, as your public liability insurance will
cover you.
The NICEIC Insurance Services policy offers various levels of
cover from £250,000 to £5million in the aggregate, (inclusive of
costs and expenses), which will typically meet the potential
maximum that a worst type of claim, or series of claims could
be.
Who is the product applicable to?
Professional indemnity cover is beneficial to any professional
person(s) who give advice, certify or design installations for a
fee but do not carry out the supply of those goods, installations
or services themselves.
As most liabilities arise from failing to adequately inspect
equipment, errors in designs, inadequate supervision of work in
progress or negligent certification, you should consider
professional indemnity insurance if you take part in any of the
following activities:
- Design work, especially in isolation and for a
fee
- Inspection and certification of other peoples
work
- Contracts for Local Authorities who insist this
type of cover is held
- Domestic installers who carry out PAT testing and
Domestic Periodic Inspection Reports.
What are the benefits of taking out this type of cover?
Professional Indemnity cover is available as a standard
extension to our public liability policy, provided your turnover
for the above types of work is 25% or less. If your turnover
consists of a higher percentage than this or you feel that you
would benefit from a greater limit of indemnity you may well need a
separate professional indemnity policy and we would be more than
happy to advise you further.
If you test and inspect your own work, your public liability
insurance will provide cover should a claim arise.
Cover can be provided for all Principals and workers, or just
specified employees.
Get cover now!
Get professional indemnity cover today by contacting NICEIC
Insurance Services on 0845 601 2376
Alternatively you complete our enquiry form and one of our
experienced account handlers will contact you shortly
Find out more about the benefits of the NICEIC Policy
Tools and transit insurance provides cover anywhere within the
EU for loss or damage to tools and business equipment including
when in transit.
What is tools and transit insurance?
NICEIC Insurance Services can provide limits of £1,500, £2,500
and £5,000 for Tools and Transit insurance covering loss or damage
to tools and business equipment including laptops, other computer
equipment and accessories (single article limit of £1,500).
Who is tools and transit insurance applicable to?
Tools and transit insurance is applicable to anyone who owns
hand tools and other business equipment such as test instruments,
laptops and other computer accessories. It is highly recommended
that contractors take out this cover in case of loss or damage to
such equipment.
What are the benefits of taking out this type of cover?
Cover can be provided for all Principals and workers’ tools, or
just those for specified employees, with wide territorial limits
which include all EC countries, and can also be extended to include
tools kept in a locked vehicle overnight (subject to terms and
conditions).
Get cover now!
Get Tools and Transit cover today by contacting NICEIC Insurance
Services on 0845 601 2376
Alternatively you complete our enquiry form and one of our
experienced account handlers will contact you shortly.
Find out more about the benefits of the NICEIC Policy
Van and motor fleet insurance can provide cover on all vehicles
used as part of a business' day-to-day activities.
Find out more about the benefits of the NICEIC Policy
NICEIC Insurance Services also provides cover for excess layer,
contract works and plant, personal accident, legal expenses,
efficacy and financial loss insurance.
Contract works insurance
Contract works insurance covers you for loss or damage to
temporary and permanent construction works, plus materials should
they be damaged or stolen prior to completion, and can be used to
cover new builds, refurbishments, repairs or extensions.
NICEIC Insurance Services can provide limits of £100k or £250k
for this cover.
Own and hired in plant insurance
Own plant and/or hired in plant cover is essential for any
contractors who frequently use complex plant machinery and
equipment as a part of their business operations. Cover is
available for plant owned or hired by the business concerned and
also any huts on the contract site owned by the insured, for a
limit of either £25k or £50k.
Cover can be extended to include items on the contract site, in
transit to and from the site or whilst temporarily stored elsewhere
other than on any contract site.
Please note: Plant Insurance does not apply to portable hand
tools and ladders. NICEIC Insurance Services also provide Tools and
Transit Insurance, to find out more, please see our tools and
transit insurance section.
Personal accident insurance
Personal accident cover provides compensation when anybody
insured under this policy, whether it is the insured party or their
employees, is unable to work due to a temporary or permanent
disability (subject to terms and conditions).
If an insured person suffers accidental bodily injury during the
period of insurance which results in death or permanent total
disablement, a fixed sum will be payable of £25,000. Cover is
available on the following units
- 1 Unit – a weekly payment of £250.00
- 2 Units – a weekly payment of £500.00
The weekly benefit is payable up to a maximum of 104 weeks
should an insured person be unable to work at their normal job
following accidental injury.
Cover is recommended for any company or individual looking to
insure against financial loss from the possibility of being unable
to work due to injury.
Legal expenses insurance
Legal expenses insurance provides cover for legal costs incurred
in defending or pursuing specified types of civil actions such as
employee contract disputes, Inland Revenue tax investigations or
bad debt recovery. Cover can also be extended to include property
protection, prosecution defence for employers, tenancy disputes,
statutory licence protection, data protection act and
prosecution.
Extended legal expenses cover is particularly helpful in
situations where companies are experiencing difficulties retrieving
monies from clients refusing to pay (subject to terms and
conditions).
Legal expenses cover is highly recommended for any company or
individual especially when considering that the potential costs
involved with any of the aforementioned civil actions can be
grossly expensive. A dedicated legal helpline is available to all
clients with Legal expenses cover.
Efficacy insurance
Efficacy cover can be added to your policy to provide protection
against legal liability arising out of or in consequence of the
failure, partial failure, advice, design, plan or specification of
any form of:
- Alarm system equipment or installation
- Fire control or existinguishment system or
installation
- Electronically operated shutters or cameras or
any other form of electronically controlled security equipment
- Lock or security device
For example, if you were to install a sprinkler system which
subsequently failed in the event of a fire and it was proved this
was a direct result of your installation, Efficacy would cover this
liability. Some contracts to carry out this type of work may
stipulate that efficacy insurance is in place before you are
granted the contract.
The NICEIC insurance policy offers incidental efficacy cover to
a maximum limit of indemnity of £100,000 based on the work that you
undertake in this area making up no more than 15% of your total
annual turnover; however we can also offer full efficacy cover with
a maximum indemnity limit of £1,000,000 if your turnover exceeds
15%.
Additional financial loss insurance
Additional financial loss covers fiscal loss, cost or expense
which has not directly resulted from injury, physical loss,
pollution or contamination.
Cover is automatically provided for legal liability for
financial loss as a direct consequence of accidental physical loss
of, or damage to, material property under NICEIC Insurance
Services’ public liability insurance. However this does not cover
losses which are purely financial, for example, where injury or
damage has not occurred.
As an example, there was a case involving an electrician who
fitted a new milking system at a farm. After a few days the farmer
was unable to persuade the herd to enter the milking parlour and it
was later found that the cattle were receiving electric shocks from
the equipment.
There was a dispute as to whether or not injury or damage had
occurred as there was no visible physical damage to the cattle, yet
the farmer had still suffered a financial loss as he was unable to
milk them. Had a financial loss extension been in force there would
have been no dispute and the claim would have been met.
Get cover now!
Get cover for any of the above insurances today by contacting
NICEIC Insurance Services on 0845 601 2376
Alternatively you complete our enquiry form and one of our
experienced account handlers will contact you shortly.
Find out more about the benefits of the NICEIC Policy
