Commercial Combined
What is the purpose of this product?
This product is designed for UK domiciled organisations and businesses with a turnover of typically between £5million and £300million, who want to insure their property against damage and business interruption, and insure against their legal liabilities as an employer and their business activities, services or products manufactured, supplied or sold, with cover that is adaptable to their specific trade.
What is the target market?
The product is suitable if:
- You are a commercial entity based in the UK, Channel Islands, or the Isle of Man looking to insure your operational business assets and legal liabilities;
- You are an individual over 18, a company, or a partnership;
- as a combination or individually, you are looking to insure material damage, business interruption, employers' liability or public & products liability;
- You want to insure more complex risks that are unsuitable for a package product which could include Manufacturing, Engineering, Printing, Retail and Wholesale, Electrical and Optical, Sports Leisure and entertainment, Professional business services, Food and Beverage to name;
- You may want the option to insure against loss of licence and/or computer theft/damage;
- You want to insure a commercial entity with a turnover typically between £5m and £300m.
What is the non-target market?
The product is not suitable if:
- You are not a company based in, the UK, Channel Islands, or Isle of Man;
- the properties you want to insure are outside of the UK, Channel Islands, or Isle of Man;
- You have unspent criminal convictions or an adverse financial history;
- You are conducting manual work outside of the UK, Channel Islands, or Isle of Man;
- You typically have fewer than 15 employees;
- Your turnover is typically less than £5m or over £300m;
- You are looking to insure predominantly residential properties;
- Your risk is suitable for a package product;
- Your risk is a charity, local authority, or government.
How is the product distributed?
This product is distributed by Brokers.
Does the product demonstrate fair value?
The outcome of the Fair Value Assessment confirms that this product is considered to provide fair value to customers for a foreseeable period of time. The Fair Value Assessment is valid until 31/08/2025.