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Glossary

Advanced Loss of Profits Insurance
Guards against situations where anticipated profits fail to materialise as a result of specified loss or damage.

Annual Multi Trip Travel Insurance
This covers you for multiple holidays or trips taken abroad in any one year.

Buildings & Contents Insurance
Insurance to cover damage to or loss of your home and its contents in the event of, for example, a fire.

Business Interruption
Whilst your Material Damage insurance should rebuild your premises and replace your contents following a loss, Business Interruption cover enables the business to survive during the reinstatement process.

Cash in Transit & Money Insurance
Cash, cheques, money orders, postal orders and the like can be accommodated under a separate money section. Normally cover is on an "All Risks" basis to cover any accidental loss, damage or theft. Cover can extend to money in or out of a safe on your business premises, and in transit to or from the bank.

Contractors All Risks
This covers the contract works, unattached materials, tools and plant against damage and theft.

Credit Risk Insurance
This business insurance protection against insolvency of a customer, which provides protection against payment default or scheduled payments. Also known as "bad debts" insurance.

Directors & Officers Liability
Company directors can be personally liable for the actions of their companies. Directors and Officers cover offers protection to individual directors.

Employers Liability
A legal requirement for employers, this provides cover for compensation awards for employees injured at work.

Engineering Insurance
This type of business insurance provides very broad cover for damage to electrical and mechanical machinery and can include engineering inspection, a statutory requirement for certain items of plant, this may also be referred to as Machinery Breakdown or Plant All Risks.

Freight Forwarders Liability
This is essential protection for liabilities assumed in the shipping, forwarding transport for liability protection for loss of or damage to cargo, your errors and omissions and third party liabilities.

Fully Comprehensive Motor Insurance
Fully comprehensive car insurance policies cover almost everything in the event of an accident, theft or fire. If your vehicle is involved in an accident, written off, stolen or burnt out this insurance will cover the cost of any repairs or will pay out the current market value of the car. The vehicle will also be covered against accidental damage caused by yourself or another party.

Fundraising Event Insurance
Whether for a charity event or not, all organisers face legal, physical, people and event risks. The risks are present whether the event is a small conference , music festival or a fund raising event, the differences are a matter of scale and exposure and this is where insurance comes in for Public and Employers Liability, Cancellation, Abandonment & Postponement cover and Event Equipment cover.

Goods in Transit Insurance
Covers you for delivering your own goods or using a courier

Home Insurance
Competitive home insurance policies to protect for loss or damage to your home, contents and valuables. Special "working from home" packages available.

Hole in One Insurance
If you have a company or charity golf day Hole- in -One Insurance can indemnify you for the value of the prize awarded for a hole in one! Just imagine if someone actually wins -what a day to remember that would be, especially if the prize is insured!

Hole in One cover is also part of a golf club "umbrella" insurance that provides money for buying a round of drinks at the bar following a successful hole in one during a Club competition.

Kidnap and Ransom Insurance
This cover may include Legal liability, expenses for temporary security measures, psychiatric and medical, reward monies, salaries of victim and replacement personnel plus ransom monies.

Legal Expenses Insurance
This commercial insurance protection enables businesses to meet the cost of defending or pursuing certain civil actions and policies can also include contract disputes, debt recovery, tax investigation and employment law.

Liability Insurance
Protecting yourself and your colleagues against negligence is a vitally important part of professional life. Public, Products and Employers' liability are essential for businesses and LFC’s experience allows us to find the cover that suits your needs at a price that won't be prohibitive.

Loss of Licence insurance
If your business needs a liquor license to operate, the last thing you need is for it to be lost and it can be revoked or not renewed for a number of reasons. Thankfully you can insure yourself against certain circumstances.

If you lose your Drivers licence from a ‘totting up’ or single points disqualification you can insure against this so trying to keep you the motorist as mobile as possible, together with a range of benefits to make your life just a little easier should you temporarily lose the ability to drive.

Malpractice Insurance
Engineers, architects, lawyers, accountants, insurance brokers and the like carry professional indemnity or errors and omission insurance to cover their professional negligence. Doctors, nurses, hospitals and medical persons require the same type of cover, but refer to it as malpractice insurance.

Management Liability
The main aspects of this Insurance Portfolio include:

• Directors & Officers’ Liability covering defence costs incurred during a claim and awards made against you.
• Employment Practice Liability, this covers your company and your employees against defence costs and awards of employment claims arising
• Corporate Legal Liability this covers your company against defence costs and awards associated with events such as, allegations you have breached regulations and claims by investors or shareholders

Marine Cargo
Cover for imports, exports and inland transits. Arranging your own cover is often more cost effective than relying on the freight carriers' cover.

Material Damage
Normally considered 'core cover', this insurance protects business assets against either specific contingencies e.g. Fire and Flood or wider Accidental Damage.

Member to Member Liability
This cover applies only within Clubs when one Insured member brings a claim against another member for legal liability.

Motor Fleet
From general haulage to company car fleets we can access the most competitive terms.

Office & Surgery Insurance
If you run an office or surgery you will need to protect employees and customers as well as computers and stock.

Personal Accident
Accidents can happen to anyone at any time and personal accident policies tend to pay out a lump sum in such an event. You can include sickness along with accident cover. They can be bought for individuals, children, Group Personal Accident plans used where a company wants to pay for cover for employees and sports and professionals.

Private Client Portfolio
Our Private Client team recognises the particular requirements of our clients with substantial personal assets. We offer bespoke packages that can cater for multiple homes, including overseas property, fine art, motor vehicles and travel cover.

Products Liability Insurance
Protects a company against financial loss when damage or injury is caused by the use of their product.

Property Owners Liability Insurance
Property owners' liability insurance enables you to meet any costs and damages awarded to a member of the public if they suffer an injury following an accident on, or linked to, your property.

Product Recall
Designed for manufacturers, this cover insures against the unexpected cost of recalling a product from the market due to faulty design, errors in manufacturing, or tampering not caused or known by the insured and that may cause harm to customers.

Professional Indemnity
As well as providing competitive and fully compliant business insurance cover for the traditional professions, we also cater for the needs of training and management consultants, IT companies and other 'new' professions.

Public Liability Insurance
Provides protection against your legal liability for injury to third parties or damage to third party property. This cover will pay the compensation awards and legal costs which could cripple many companies.

Road Risks
If you work in the motor trade, you will have a requirement to store and drive an ever changing stock of vehicles on the public highway. To do this, you'll need some form of motor trade insurance cover. The most basic element of motor trade cover is road risk insurance, allowing drivers to move vehicles on the public highway so removing the need to arrange a continuous stream of temporary car insurance policies.

Road Traffic Act Cover for all unlicensed plant
Certain items, unlicensed motor vehicles and plant including golf buggies, can venture into a public place and such liability cover is now available.

Single Trip Travel Insurance
This covers you for one specified holiday or trip abroad

Stock throughput
This type of business insurance policy is suited to many industry types ranging from manufacturing, distributing and retailing to wholesaling. Cover is for all stock and goods anywhere in the world and can be arranged for both goods in transit and goods in storage. A benefit of a stock throughput policy is any gaps in cover are significantly reduced or eliminated

Third Party Fire & Theft
This is car insurance covering you if your car is stolen or damaged in a fire. It also provides cover for you and your passengers against claims for any damage you cause to another person or their property in an accident, as laid down under the Road Traffic Act.

Tool Insurance
This will provide cover for your own tools if they are stolen.

Treatments Risks
As public liability insurance does not cover the "item" (or customer) you are working on, if you are a hairdresser, beautician, tattooist/body artist or other similar trade, you will need cover for the treatments you apply. Treatment risk provides cover in case you cause injury to a person when applying the treatment.

Trustee Indemnity
Covers trustees against personal liability when legal claims are made against them, either by their charity or by a third party. Provided that the trustees have authority, they are entitled to be insured against claims that may arise from their legitimate actions as trustees, and will be covered against liability as long as they have acted honestly and reasonably.

Yacht & Pleasure Craft
Covers damage and theft of the vessel and its contents as well as public liability. Cover can extend to racing risks.

Warehouse Keepers Liability
Warehouse keepers have the obligations of a bailee (and are therefore under a duty to take reasonable care of the goods left for storage, and to return them in accordance with the terms of the contract of bailment).

Such liability can also be called warehouseman's insurance and this will indemnify you in respect of all sums where you become liable to pay as compensation for loss of or damage to Goods.

Winter Sports Insurance
This is an extension of your travel insurance that covers you if you will be partaking in any form of winter sports during your stay, e.g. skiing, snowboarding, tobogganing and ice skating.