The complexities of insurance can often be daunting. At Balens, we are here to ensure you get professional guidance at every stage of your business development and to ensure that you are getting the right cover for your own particular circumstances. The following is a brief guide to some of the insurance policies to consider as the owner / manager of a Professional Association, Training School and other such establishment. Please click on the relevant links for further information.
Other policies services which may be useful:
Balens have a range of additional policies that you may wish to consider as part of your insurance portfolio.
- Professional Indemnity Insurance - As a business owner you can be held legally liable for injury, harm or financial loss alleged to have been caused to your clients, students or other parties, and/or loss/damage to their property. As such you may require Professional Liability insurance.
- Legal Expenses – Covers Criminal Defence and Legal Advice, may also include legal and taxation advice lines. At Balens, this insurance can be added to many of our Insurance packages.
- Directors and Officers Insurance – Offers financial protection for Directors, Officers or Partners of a company who require cover for personal liability, for errors or omissions they may make in the performance of their professional duties.
- Personal Accident and Sickness cover – Various options available; cover may be of particular importance for those that are self-employed and have no alternative income.
- Training School Insurance – For Training providers that hold a Professional teaching qualification, are a qualified Health, Well-Being, Fitness or Beauty Practitioner and are, or wish to, train and certify others.
- Charities and Not-for-Profit Organisations - Balens have a range of options to meet the insurance requirements for this business sector, if your Association is a registered Charity or Not-for-Profit organisation.
- Cyber / Crime Insurance – Your business may be at risk if you use any form of internet-based technology within your business or for the storage of data, this may be particularly relevant with more online training. Cyber / Crime insurance is designed to protect businesses and individual users from these risks, including such elements as theft of funds, loss of data, online fraud, transmission of a virus.
- For Buildings, Contents, Stock and when employing others - Contents, Equipment & Employers Liability Insurance – Balens have devised a range of contents package options to cover contents stock and equipment which you own and / or are responsible for. Employers Liability is included as standard, plus you have the option to add additional sections of cover such as Business Interruption, Buildings Insurance, Products Liability and Terrorism.
- Tenants’ Improvements – In the event of building damage due to an insured peril i.e. fire or flood, improvements or alterations made by tenant may be their responsibility to insure.
- Buildings Insurance – A consideration if you are the owner or responsible for this in any rental agreement. May also be a requirement of any mortgage agreement on the property.
- Stock and Contents Insurance – Take care not to under insure (i.e. not cover the full value of your contents or stock), as claims may be proportionately reduced if you do.
- Employers Liability Insurance – Typically a legal requirement, if you have anyone working for you, including volunteers.
- Business Interruption – Cover for financial losses and / or increased costs to your business when unable to operate due to property damage arising from an insured peril i.e. fire or flood.