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It is perhaps easy to assume that with the wide range of insurance cover that is available to both individuals and businesses, you can find cover that protects you against any possible risk. This is however not the case and there will always be clear areas where no insurance policy will be available or appropriate.
The government will typically take on the risks related to war, including nuclear risks and damage. If our country found itself at war there would be an expectation that the government will support those affected.
Insurance will not cover you for your criminal actions. You cannot for example protect yourself against the extra costs incurred as a result of losing your driving licence through drink driving. Such a policy would be considered against the public interest.
Every business is vulnerable to seeing its reputation damaged as a result of negative publicity. Insurers will not cover the consequential losses if a business goes bust as a result of its tarnished name.
A good example of this is an excess, commonly applied to a policy that requires the policyholder to pay a set amount for each claim.
In addition any insurance policy will exclude those elements that are more appropriately covered under a different policy. Consequential loss resulting from material damage is a good example of such an exclusion.
1 Apr 2016
Members of the public can join the fight against insurance fraud by reporting what they know to the Cheatline. Powered by Crimestoppers, the Cheatline is a free service that enables members of the public to anonymously report information or suspicions about insurance fraud. – Cheatline is on 0800 422 0421, or online at www.insurancefraudbureau.org/cheatline. – […]
22 Mar 2016
Spring is finally here and at this time of year there is lots of activity in gardens and allotments across the country. – Additionally, we may be buying new gardening tools and equipment and it is also traditionally a time when burglars target garden sheds, garages and outbuildings looking for power tools, bicycles and other […]
16 Feb 2016
Why you need engineering inspections Compliance with the law To avoid costly HSE fees for intervention Defence against claim or prosecution against your business or its directors personally Avoid equipment downtime Gain efficiency, longevity of plant use and reduce your environmental impact Use this link to identify the types of plant that you […]