Archive:

Crime insurance

Also known as Fidelity insurance, this covers your business against the loss of money or stock arising from theft or dishonesty by your employees. Click through to find out more information about Crime Insurance.

Date of Issue

This is the date when the insurance company actually issues the policy document, which may well be different from the start date of the cover provided by the business insurance policy.

Deductible

Sometimes called an ‘Excess’, it refers to the amount of your claim that you yourself must pay. Sometimes this deductible is imposed by commercial insurers because of the nature of the risk and in other cases it is voluntary. If you accept a voluntary excess on your business insurance policy...

Delegated Authority

Delegated Authority is where an commercial insurance company gives a broker the authority to assess and request a business insurance policy on their behalf.

Denial of Access

It is possible that damage to a nearby building could prevent your business from trading. This clause in Business Interruption policies can cover you under such circumstances, even if your own business premises are undamaged. Click through to read more about Business Interruption Insurance.

Directors and Officers insurance/D&O insurance

As a director or officer (that is, senior manager) of a company, you owe a duty of care to your company, and have, in certain circumstances, a personal responsibility to third parties. A D&O insurance policy is designed to protect senior company representatives against claims made against them for wrongful...

Disablement

If you are unable to work following an accident, a Personal Accident policy can offer compensation. A serious injury may mean you can never return to work. In such a case, a lump sum is paid. The compensation for a temporary absence from your job following an accident is a...

Disclose/disclosure

When arranging your business insurance you must disclose all material facts that could affect the policy, i.e. claims or endorsements. In the same vein, the commercial insurance company is required to inform you of all changes to the policy, such as terms and conditions.

Domicile

The permanent residence where you have principal establishment and to where, whenever you are absent, you intend to return. Every person is compelled to have one and only one domicile at a time.

Effective date

The date from which the business insurance is in force. This is also known as the Commencement date.