Insurance Service

FSB Insurance Service is exclusively available to FSB members. Members can log into their member dashboard to find contact details or call directly from the FSB member app. 

You can also find out more information by visiting the FSB Insurance Service website.

There are many different types of business insurance you can buy to improve your business resilience, but you may have some that you are legally or contractually obligated to hold.  

If you own a car, for example, commercial motor insurance is a legal requirement.  

If you have any employees or volunteers, employers’ liability insurance is a legal requirement. It covers your legal responsibility for your employees, and in the event of a claim, employers’ liability will cover the cost of legal expenses (depending on your policy) and the claim amount. 

Before setting up or reviewing your business insurance, it’s important that you know the key information about your business, especially if you’ve made changes to your operations recently.  

We’ll take you through all of this and the definitions of various insurance ‘jargon’ to make sure you understand and are confident in your business’ requirements and covers. 

If you’re an FSB member, you can call our free insurance advice line for advice and guidance, and when you register you will be provided with a free “Easy Guide to Business Insurance” which includes:  

• An introduction to different liabilities, protecting you from suffering financially if a claim is made against you if you are found to be responsible and/or as a result of negligence (Public, Product and Employers’) 
• Professional Indemnity and who might need it 

Public liability insurance.

One of the most common types of business insurance, public liability covers your responsibility to third parties. Similar to employers’ liability, it protects you from suffering financially if a claim is made against you or your business in respect of loss or damage to third party property or people as result of your negligent acts. Additionally, if you believe a claim is fraudulent your insurer will help to make sure it’s investigated.

Product liability insurance.

This covers liability for loss, damage or injury caused by a product you have manufactured, installed, supplied or maintained. If you handle products and or repairs it is important to make sure that you are covered in case a product handled by you causes loss, damage or injury.

Professional indemnity insurance.

If a mistake you make in your work whilst advising a client causes a financial loss to a client, professional indemnity will help you cover any costs or claims made against you. Professional indemnity won’t cover you doing a bad job or for ‘faulty workmanship’. If you install a boiler that isn’t fitted properly and it causes a gas leak, this will not be covered by professional indemnity insurance.

If your business is subject to a cyber incident, like a data breach, then cyber insurance can help you to cover the costs and manage the situation using trusted and experienced incident responders. 

Having insurance can be a valuable lifeline, as potential fines, legal fees and claims soon add up. It can support your business with minimising disruption by offering financial protection and helping with any legal repercussions, such as fines.