Contractors & Per Capita Liability inc All Risks

Product Approval Process

The POG concluded that the product is suitable for the target businesses/SMEs responding to their exposure to a broad range of legal liabilities arising from their activities, particularly work undertaken away from their main premises.

Who this Product is suitable for:

These risks tend to have the main exposure away from their own premsies, working in third party premises such as Building & Constructions trades and may include treatments for beauty trades and thus increased exposure to danage to third party property or third party injury. The insured may also provide/sell products or services which could cause injury to third parties. Furthermore, they have employees who may have exposure to heat, height, depth, woodwork machinery and other manual/non clerical activities.

Each trade may required Tools of Trade and Business Equipment to cover expenses items of equipment used at varies places of work.
Target poliyholders working in the Building & Condstruction trade may also need to cover expenses items of plant & equipment which they own or hire and are contractually obliged to insured. Furthermore, the policyholder may invest a significantly in materials over a number of contract. All of which are high risk items of theft and other known perils.

Who this Product is not suitable for:

Consumers – any natural person purchasing a policy which is unrelated to their trade and/or occupation.
Building and Construction Trades who already have standalone Contractors All risk policy may have more complex needs and should therefore not be sold a policy including the MGAM CAR section.
Per Capita Rated should not be sold to Companies with more than £750,000 turnover and/or more than 10 employees + 3 temporary staff (50 days in any one year).

Product Suitable Distrubution Strategy