clientcare@treybridge.co.uk 
The specialists here at TreyBridge aren’t simply accountants and tax consultants, we’re also dedicated business advisors. This means that we can help you to grow your business, strengthen your infrastructure and remain compliant across the board. 
 
Something we’re asked about regularly is commercial insurance. This is something that you legally need in place if you have one or more employees, even if they’re only working for you on a temporary basis. There are multiple benefits that come with having suitable commercial insurance in place, which we’ve listed below. 

Again, it’s the law 

If you have staff, even just the one employee, you need commercial insurance. Failure to do so could result in a fine of up to £2,500 every day until the correct cover is taken out. 
 
Your insurance will be designed around the specific nature and needs of your business. For instance, it will safeguard you against compensation claims made by an employee on the grounds of illness, injury or damage as a result of their role at your company. Meanwhile, if your business is in regular contact with members of the public, you definitely need to take out public liability insurance. 

Business interruption 

Whilst we hope that this never happens to you, none of us know what tomorrow will bring. Fire, flood, criminal damage and other forms of business interruption can seriously affect cash flow, not to mention the effects caused by data breaches and cyber-attacks. Taking out the right kind of commercial insurance will protect you against these disasters and ensure business continuity. 

Health cover 

This is a delicate subject but it needs to be considered. If you or another company director were to be taken ill, succumb to a major injury or pass away, what would happen to company shares and the future of the business? Key person insurance is specifically designed around keeping companies running as originally intended, even if their founders and top management are sadly taken out of the picture. 

Enhance your brand image 

There are many actions that can be taken to increase your company’s reputation, and having strong financial protection in place is one of them. Commercial insurance reflects a commitment to security, safety, business continuity and accountability, plus it shows that you take the wellbeing of staff and customers seriously. 

We recommend HI Commercial 

If you’d like to find out more about insurance that’s tailored to the needs of your growing business, we recommend getting in touch with Richard Medforth at HI Commercial. He’s an insurance expert with thirty years’ experience to his name, plus he’s a friendly chap who’s very easy to work with. 

Grow your business 

We’re here to help you turn your vision into reality. For more information about business advisory, fill in our contact form and one of our specialists will get back to you right away. 
 
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