Speciality Insurance
Speciality Insurance Covers
A range of speciality insurance covers including legal expenses insurance, rent guarantee insurance, landlord rent guarantee insurance, delay in start-up insurance, latent defects insurance, contingency insurance, legal protection insurance & rights of light indemnity insurance.
Engineering Insurance including Machinery & Equipment Breakdown and Inspection Services
Talk to us about the broad range of engineering, inspection services and technology insurance products available providing cover for a broad range of industry sectors including construction, computer, energy and equipment breakdown.
Temperature Controlled System Breakdown
Equipment breakdown and damage insurance is not usually covered in property or warranty insurance policies. Flexibility to cover equipment breakdown, deterioration of stock, including stock in refrigerated vehicles or temporary cold storage and loss of income risks in one policy. Amongst other incidents, cover is provided for machinery and equipment operated off site and hired in for short-term use. Contact us for more details of this type of cover.
Product recall
Manufacturers have product recall exposure and this type of insurance should be considered as protection of the firm’s cash flow and ultimately its balance sheet as a product recall event will have a direct impact on its reputation and therefore, its future sales.
Many firms mistakenly believe they can rely upon suppliers and other third party participants in the manufacturing process to support or to cover the cost of a product recall process. However, this can be a high risk dependency as it is difficult to assess another’s firms ability to pay for a recall incident and often contractual agreements waive rights of redress.
Another mistaken belief is that a firm can manage the product recall costs. However, beyond tthe costs which result from products withdrawal including mislabelling, (these are often not the main costs), specialist product recall insurance also includes covers such as, rectification costs to re-manufacture the products including redesign of the manufacturing process if necessary, loss of sales following the issue, public relations management, third party legal damages and retailers’ costs. Talk to RS Risk Solutions for more information.
Legal Expenses Insurance
Legal expenses insurance is designed to help protect individuals and businesses manage unexpected legal proceedings and access expert legal advice. Although many insurance packages include legal expenses cover, RS Risk Solutions also works with expert insurers to place standalone legal expenses insurance. This type of insurance covers legal expenses relating to disputes, such as, employment tribunals, property protection, commercial contract disputes, tax protection. There are exclusions in most policies, such as pre-existing issues prior to the commencement of the insurance and other specific exclusions. Please speak to our expert team for more information.
Contingency Insurance
There are a wide variety of insurance covers for future events that fall under the category of contingency insurance. Contingency cover provides protection for event cancellation and / or abandonment in relation to, for example, exhibitions, festivals, on location filming and similar. ext to here
Authority and Principals Bonds, Warranties and Guarantees
A Bond or Surety supports a company’s contractual obligations and is purchased by the contracting party in favour of the principal, thereby providing financial protection against loss from a breach of contract or default.
Rent Guarantee
For landlords wanting to protect the rental income from their properties. This type of insurance offers cover for any default in rent payment, legal expenses costs relating to tenancies. There are different levels of cover available, so please talk to us about your requirements.
Contract Penalty
The law surrounding contract penalties is complex. Insurance coverage in the event of late delivery of a product for an agreed amount based on the contract between the insured manufacturer and / or haulier and a purchaser may be required and may not be provided for under standard policy wordings. Also, see below.
Pollution and Environmental Impairment Liability Insurance
Most standard insurance covers do not cover businesses for any liability for pollution or environmental impairment from their use of land or buildings, particularly if this liability follows gradual impairment.
Environmental Impairment Liability Insurance provides insurance protection for those businesses whose activities involve the potential to cause environmental damage, such as, keeping oil tanks or other holding tanks, use of pesticides, potential for toxic substances to drain into public systems or waterways, potential for air pollution and so on.
Environmental liability insurance covers the cost of repairing environmental damage arising from both sudden and gradual pollution, third party liability, clean up costs and legal defence costs.
If you would like advice or a quotation please contact us.
We are an independent and regulated UK insurance broker predominantly supporting clients in:
London and the South East including: Surrey, Kent, East Sussex, West Sussex, Ashford, Bexhill, Brighton, Caterham, Chatham, Copthorne, Crawley, Crowborough, Croydon, Dorking, East Grinstead, Eastbourne, Edenbridge, Forest Row, Gillingham, Gravesend, Hastings, Haywards Heath, Heathfield, Horley, Horsham, Hove, Kingston upon Thames, Leatherhead, Lewes, Lingfield, Maidstone, Newhaven, Oxted, Redhill, Reigate, Royal Tunbridge Wells, Seaford, Sevenoaks, Sutton, Swanley, Tonbridge, Uckfield, Woking, Worthing