POLICY SUMMARY
Policy Summary Statement
This policy is an annually renewable Professional Insurance Select product, underwritten by Royal & Sun Alliance Insurance plc. The information below provides a summary of the cover provided. For full terms and conditions of the cover, please refer to the policy document a copy of which is available on request.
Compulsory Cover
This package is based on a core range of covers which must be taken. These are:
- Material Damage for Contents
- Employers Liability
- Public / Product Liability
- Money
- Glass
Optional Covers
The following can be added:
- Business Interruption both Gross Revenue and Additional Cost of Working
- Material Damage for Buildings
- Legal Expenses
- Personal Accident
Property Damage
General Contents (excluding Computers and Peripheral equipment) Buildings, Transparencies, Deeds and Documents, Tenants Improvements and Specified Equipment away from the office
a. Cover is on a ‘Fire, Perils, Theft and Accidental Damage’ basis and is subject to a £250 excess each and every claim but note:
- Theft cover is ‘full’ Theft
- Subsidence is subject to an excess of £1,000 each and every claim
b. The description of General Contents includes:
- Clothing and personal effects belonging to the insured and employees (in so far as it is not otherwise insured) up to £500 per person.
- Curios pictures and other valuables are covered up to £1,000
c. Buildings, Tenants Improvements and General Contents are insured on a Day One basis providing automatic 15% uplift of Declared Value
d. General Contents are covered whilst temporarily removed from the premises and in transit up to 15% of the sum insured or £250,000 whichever is the least
e. Cover for Buildings, Tenants Improvements and General Contents are on a ‘Reinstatement as new basis’
f. Deeds and Documents and Transparencies can be insured under the Property Damage Section:
- Cover at any location and in transit
- Documents exclude negotiable securities, Money and Stamps
- Transparencies include film negatives and video tapes up to £1,000 any one item
- £1,000 limit any one package / briefcase / parcel
- Cover is the costs, including stationery and labour, in connection with reproducing information but excluding the value of such information
g. Theft from any unattended vehicle is subject to the property being contained in the locked boot and all points of access to the vehicle are locked or the vehicle is stolen at the same time
h. The policy covers the cost of replacing the lock if the keys are lost by Theft (involving a forcible and violent entry / exit) up to £1,000
i. Removal of Debris cover is automatically included
j. Automatic Reinstatement of Sum Insured following a loss (the company retains the right to refuse reinstatement in certain circumstances)
Glass
a. We pay for replacement of glass to comply with British Code of Practice B6262. Compliance with the Code may result in replacement with a higher standard of glass
b. The policy automatically covers:
- The cost of boarding up
- Glass, including mirrors, lettering, alarm foil, sanitary earthenware and neon signs
- Stained and toughened glass up to £1,000 any period of insurance
- Glass and sanitary earthenware in part of the building occupied by the Insured as a private dwelling house
- Damage by impact of falling glass to framework and fittings of the ground floor frontage
- Damage by impact of falling glass to goods on display, limit £500
- A £250 excess each and every claim applies
Legal Liabilities
a. Automatic Limits of Indemnity are as follows:
- Employers’ Liability Limit £10,000,000 any one event*
- Public Liability Limit £2,000,000 any one event*
- Product Liability Limit £2,000,000 any one period of insurance*
- Legal Defence Costs Limit £250,000 any one period of insurance
* Higher Limit on Application
b. Extensions provided:
- Employers’ Liability – Unsatisfied Court Judgements and Compensation for Court Attendance
- Public / Products Liability – Cross Liabilities, Compensation for Court Attendance, Contingent Motor Liability, Overseas Personal Liability and Data Protection Act 1984
- Legal Defence Costs – Health and Safety at Work Act – Part II of the Consumer Protection Act 1987
Money
a. Money limits are automatically:
- £2,000 any one loss for money in transit, on premises during business hours, or in a bank night safe
- £1,000 any one loss for money kept in a locked safe (in the premise out of business hours)
- From the insured’s home not in safe when occupied by an adult £500
- Any other circumstances £250
- Crossed cheques, crossed money orders and crossed postal orders £250,000
N.B. A £50 excess applies to each and every claim.
b. Personal Injury Benefits (per Unit)
These are payable, per unit of cover, for injury caused following a robbery:
- Death / loss of one or more limbs / eyes or Permanent Total Disablement from gainful employment of any and every kind – £5,000
- Temporary Total Disablement – £50 per week for up to 104 weeks
2 Units of cover are automatically provided, if more cover is required then Personal Accident cover should be taken.
c. Higher Sums Insured
The standard money limits can be increased provided that adequate precautions are taken and the safe is suitable to hold the amount of money at risk.
Computer Covers
a. Cover is on ‘All Risks’ basis and is subject to a £250 excess
- Theft cover is ‘full’ theft
- Subsidence is subject to an excess of £1,000 each and every claim
- Cover anywhere in the world
b. Computers are insured on the Day One basis providing automatic 15% uplift of Declared Value.
c. Breakdown cover subject to a Maintenance Agreement in force.
d. Reinstatement of computer records up to £10,000 provided that a back-up of information (other than software programs) is carried out at least once every twenty four hours verified and stored taking all reasonable precautions in their safe storage. Also separately maintain one verified back-up copy at least once every seven days in a location away from the Premises or be kept in a fire proof safe or cabinet on the Premises.
e. Additional costs of renting computers £7,500
f. Incompatibility of Computer Records £10,000
g. Accidental discharge of gas systems £5,000
h. Additional cost of working at £25,000 with six month indemnity limit (higher limits available see rating section)
Legal Expenses (Optional)
Cover is provided for the costs incurred in pursuing or defending the legal rights of the business including:
- Contract of Employment disputes
- Race Relations Act
- Sex Discrimination Act
- VAT and Revenue laws
- Property Damage and Nuisance actions against third parties
- Contract disputes (minimum claim amount of £1,000)
The Limits of Liability are:
Any one event: £100,000
Any one period of insurance: £1,000,000
Personal Accident (Optional)
A maximum of five units of cover may be taken out for each member of staff. Benefits are provided for accidental bodily injury occurring anywhere in the world and at any time. Cover is 24 hour.
Age Limit – 16 years to expiry of the Period of Insurance during which the person attains the age of 70 years.
Events Benefits per unit
a. Death £10,000
b. Loss of one or more limbs or eyes £10,000
c. Permanent Total Disablement from Gainful employment of any and every kind £ 10,000
d. Temporary Total Disablement £50 per week up to 104 weeks in all
e. Temporary Partial Disablement £20 per week up to 104 weeks in all
f. Medical Expenses £2,500 maximum regardless of no of units
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