In recent years, the Financial Conduct Authority (FCA) has been working towards an agenda they refer to as “conduct risk”. Customers trust insurers to provide a service that offers maximum value at the best possible price. Conduct risk is a measure of how effectively insurers meet this brief. In short, conduct risk is a question…
If you currently work in insurance and you want to start your own insurance company, in this post we’ll list the various things you’ll need in place before you can start legally trading. What Sort of Insurance Company Do You Want to Start? As we’ll see below, the UK insurance industry is highly competitive, and…
If you’re a business owner considering health insurance for your employees, this is your essential guide to how the medical cover you provide will affect your tax situation. In this post we’ll also explore how medical insurance affects tax for self-employed people, and other unincorporated business owners. How Does Medical Insurance Affect Tax? At the…
All UK workers have certain legally-enforced employment rights. If an employee feels that their legal rights have been violated, then they may make a claim against their employers. Employment practices & liability insurance covers businesses against such claims. What Does Employment Practices & Liability Insurance Cover? The UK government has many laws in place to…
If you work for an employer, you’ll receive statutory sick pay if illness or injury ever puts you out of work. Depending on your employer, you may even receive additional benefits on top of your statutory pay. But self-employed workers don’t always have this safety net. So how can you insure yourself against long-term illness…
It’s hard to know where you stand when it comes to Covid. Government restrictions can change at a moment’s notice, and it’s almost inevitable that businesses will suffer when a lot of people are wary of leaving the house. But support is available, if you know where to look. And there are plenty of resources…
The process of registering your business name is different depending on whether you’re setting up as a sole trader or a limited company. See our guide to learn about the difference between these two arrangements. How to Choose Your Business Name Many businesses go for snappy names that’ll help them stand out from their competitors….
Treatment liability insurance is essential cover for anyone who provides certain forms of treatment, including therapy, counselling, and other health, beauty and wellbeing treatments. So whether you’re a therapist, a counsellor, a hairdresser or a masseuse, treatment liability insurance will protect you against injury or damage claims that may result from your work. What Does…
On 15 January 2021, the Supreme Court made an unprecedented decision. It ruled that small businesses affected by the Coronavirus pandemic should have their claims paid under Business Interruption insurance. The judgment was based on a test case brought before the Supreme Court by the Financial Conduct Authority (FCA), who regulate the insurance industry. The…
Starting a business is hard. There are so many things that need sorting out. If you’re a freelancer or a contractor, you often have to do everything all by yourself. And one thing that many freelancers and contractors worry about is VAT. Do you need to register for VAT? And if so, how do you…