Target Market Statements and Fair Value Assessments
Commercial Lines
The FCA Product Intervention and Product Governance Sourcebook Chapter 4 (PROD4) and Insurance Distribution Directive (IDD) regulatory rules require Product Manufacturers to share information about their products with their Distributors. This includes:
- Information about the intended target market; and
- The outcome of a fair value assessment.
To meet this requirement Aviva, as the Underwriter and sole Product Manufacturer, provides the following documents for your reference:
- ‘Target Market Statements’ - these provide you with information about the intended target market. Our Target Market Statements are intentionally provided at a category level to clarify who our products are designed for, who they are not intended to support and how we expect the product can be offered to clients.
- ‘Fair Value Assessment Outcomes’ - these provide you with the outcome and conclusion of the full fair value assessment that Aviva has completed.
You can find out more about our product approval process here or our product oversight and governance information for distributors here.
Please note:
- The content provided below is not intended for clients or operational sales staff.
- Specific data and remuneration details cannot be shared here as it is commercially sensitive information so will continue to be discussed in your individual account management meetings.
- It is not expected that sub-agents distribute these products however if this is the case please contact us as information should be shared through the distribution chain.
- Fair Value Assessment Outcomes for co-manufactured arrangements where Aviva provide underwriting capacity are not shown here.
- For detailed product information please continue to refer to the relevant insurance policy document cover and exclusions in the document library.
In most instances, Aviva Commercial Lines General Insurance products are designed to provide insurance solutions to clients in a wide range of market segments. It may be that a customer has the need for more than one product, and they may be selected in a combination that suits their needs, providing the eligibility criteria are met. Almost all of our Commercial Lines products are also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession. High level information regarding standard eligibility criteria is detailed in each of the Target Market Statements where relevant, however please contact your local Trading office underwriter should you require a tailored quote.
Accident and Health
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who require a financial benefit to be paid in the event of accidental bodily injury to an employee and/or require financial protection whilst their employees are travelling for the purpose of the business.
Who is this product designed for?
This product is designed for customers who require insurance protection against the effect on their business of accidents to their employees or costs arising from their employees’ business travel.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
This product is not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Agriculture
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is a modular commercial insurance product covering the majority of segments within the United Kingdom Agricultural trading environment. There are no mandatory sections, with every cover being optional which allows the customer to build a commercial insurance solution specifically for their business. The following covers are available:
Property
Financial protection for the business’ assets (including machinery, stock, livestock, contents or buildings) following damage through events such as fire, theft (including that by their own employees), flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
Professional Indemnity
Cover for customers who require insurance protection against financial losses from a breach of professional duty.
Accident & Health
Payment of a financial benefit in the event of accidental bodily injury to an employee and/or financial protection whilst employees are travelling for the purpose of the business.
Engineering
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of business income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Home
Provides cover for buildings and contents of the farm home following damage through events such as fire, theft and flood.
Cover can be extended to include clothing and personal belongings, caravans, sports cover and family legal protection.
Road Risks
Cover for third party liability as required by the Road Traffic Act, and protection for the business’ vehicles from accidental damage, fire and theft.
Who is this product designed for?
This product is designed for customers who run an agricultural business from one or more premises in the United Kingdom.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in running an agricultural business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
This product is solely available via a selected partner.
Agriculture Fair Value Assessment PDF
Bonds
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who owe contractual obligations to third parties and are required by those third parties to provide financial protection against breach of contract or default by the customers.
Who is this product designed for?
This product is designed for customers who are required by third parties to provide financial protection to support contractual obligations owed by the customers.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who do not have contractual obligations which could result in financial loss.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Commercial Combined
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Commercial Combined is a modular commercial insurance product covering the majority of segments within the United Kingdom business trading environment. There are no mandatory sections, with every cover being optional, which allows the customer to build a commercial insurance solution specifically for their business. The following covers are available:
Property
Financial protection for the business’ assets (including machinery, stock, contents or buildings) following damage through events such as fire, theft (including that by their own employees), flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
Professional Indemnity
Cover for customers who require insurance protection against financial losses from a breach of professional duty.
Accident & Health
Payment of a financial benefit in the event of accidental bodily injury to an employee and/or financial protection whilst employees are travelling for the purpose of the business.
Management Liability
Cover protecting both individuals (in the form of Directors and Officers Liability) and companies (in the form of Employment Practices Liability and Corporate Legal Liability) against claims being made against them.
Crime
Cover for any loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees and/or third parties.
Cyber
Cover protecting the business against the financial impact of cyber risks, such as hacker attacks, ransomware, social engineering fraud, denial of service attacks, reputational damage or compensation claims made against the business for failing to keep personal or commercial data secure.
Engineering
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of business income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Who is this product designed for?
This product is designed for customers who run a business from one or more commercial premises in the United Kingdom and/or other parts of the world.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in running a commercial business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Commercial Combined Fair Value Assessment PDF
Commercial Combined Online
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Commercial Combined is a packaged commercial insurance product covering small to medium sized businesses involved in the manufacturing of components or finished goods, retail or wholesale, or the provision of services or sports, arts, community and leisure facilities.
This packaged product has the following covers automatically included:
Property
Financial protection for the business’ assets (including machinery, stock, contents or buildings) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Money & Assault
Cover for loss of money belonging to the business, and/or bodily injury to its employees as a result of assault or attempted assault whilst carrying money belonging to the business.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Business Interruption
Cover for loss of business income following insured damage to property.
Personal Accident & Business Travel
Payment of a financial benefit in the event of accidental bodily injury to an employee and/or financial protection whilst employees are travelling for the purpose of the business.
Employee Dishonesty
Cover for loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees.
Computer Breakdown
Cover for the breakdown of computer equipment, the resulting cost of reinstating data and any resulting increased cost of working.
Engineering Breakdown
Cover for damage to plant and machinery at the premises caused by breakdown, explosion, collapse or operator error and requiring repair or replacement.
Who is this product designed for?
This product is designed for customers who run a business from one or more commercial premises (up to a maximum of 10) in the United Kingdom with a total combined sum insured and turnover limits as below:
- Up to £10m maximum total combined sum insured per risk location*
- Up to £10m maximum total turnover*
- 10 risk locations maximum
*Limits very dependent upon specific trade
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in running a commercial business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Commercial Combined Online Fair Value Assessment PDF
Commercial Property Owners
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a modular commercial insurance product designed for customers who run a business renting/leasing commercial and residential property to tenants.
There are no mandatory sections, with every cover being optional, which allows the customer to build a commercial insurance solution specifically for their business. The following covers are available:
Property
Financial protection for the business’ assets (including buildings and communal contents) following damage through events such as fire, theft (including that by their own employees), flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
Management Liability
Cover protecting both individuals (in the form of Directors and Officers Liability) and companies (in the form of Employment Practices Liability and Corporate Legal Liability) against claims being made against them.
Engineering
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of rental income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Who is this product designed for?
This product is designed for customers who run a business renting or leasing commercial and residential property to tenants.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in renting or leasing commercial and residential properties.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Construction
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is a modular commercial insurance product covering the majority of segments within the United Kingdom Construction industry. There are no mandatory sections, with every cover being optional, which allows the customer to build a commercial insurance solution specifically for their business. The following covers are available:
Property
Financial protection for the business’ assets (including machinery, stock, contents or buildings) following damage through events such as fire, theft (including that by their own employees), flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Contract works
Cover on an all risks basis which provides protection for the works, materials and plant (including hired in plant) for which the business is responsible, but excluding damage from a number of events such as wear and tear, gradual deterioration, and faulty or defective design materials or workmanship.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
Professional Indemnity
Cover for customers who require insurance protection against financial losses from a breach of professional duty.
Accident & Health
Payment of a financial benefit in the event of accidental bodily injury to an employee and/or financial protection whilst employees are travelling for the purpose of the business.
Management Liability
Cover protecting both individuals (in the form of Directors and Officers Liability) and companies (in the form of Employment Practices Liability and Corporate Legal Liability) against claims being made against them.
Crime
Cover for any loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees and/or third parties.
Cyber
Cover protecting the business against the financial impact of cyber risks, such as hacker attacks, ransomware, social engineering fraud, denial of service attacks, reputational damage or compensation claims made against the business for failing to keep personal or commercial data secure.
Engineering
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of business income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Who is this product designed for?
This product is designed for customers who run a business in connection with the Construction industry from one or more commercial premises in the United Kingdom and/or other parts of the world.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in running a construction industry business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Construction Fair Value Assessment PDF
Crime
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Crime insurance is designed to provide wide protection against direct financial loss sustained by a business due to theft, fraud or dishonesty by its employees and/or third parties.
The product covers loss of money, securities or property belonging to the business’ clients or customers which is in the care, custody and control of the business and for which the business has legal responsibility.
Who is this product designed for?
This product is designed for customers who run a United Kingdom domiciled business, which may include offices outside the United Kingdom.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers whose business is domiciled outside the United Kingdom and/or whose overseas operations are United Kingdom domiciled business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Cyber
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who require insurance protection against the financial impact of cyber risks, such as hacker attacks, ransomware, social engineering fraud, denial of service attacks, reputational damage or compensation claims made against the business for failing to keep personal or commercial data secure.
Optional covers extensions which are available with this product:
External Cyber Crime – this cover provides financial loss due to unauthorised access to the business IT network or if a third party deceives an employee into paying or transferring money by impersonating another person. Please be aware that a ‘third party’ excludes an employee, partner or director or an external accountant, financial advisor or similar agent.
Telecommunication Services: this extension covers any incurred cost due to the unauthorised use of the customer’s telecoms services, for example, an external hacker. Please note the cover excludes unauthorised use by the customer’s partners, directors or employees.
Who is this product designed for?
This product is designed for businesses, large and small, that depend on their digital technology to operate or have an online presence or store and handle sensitive user and customer data. Standard insurance policies don’t typically cover the loss or damage of digital assets. Having a comprehensive cyber-insurance policy not only provides financial protection if the worst happens, but also provides access to expert advice and support when an incident occurs, such as, IT, legal, forensic and media relations to minimise the disruption to the business and any reputational damage.
Eligibility criteria specific to the External Cyber Crime and Telecommunication Services cover extensions:
To ensure these cover extensions operate fully, customers must:
- ensure that all employees are trained in the dangers of social engineering fraud and how to spot these attempts.
- have formal payment procedures in place which require employees to independently verify the legitimacy of payment instructions before amending bank details of a supplier or customer or making a payment for the first time.
Eligibility criteria that applies to the whole policy:
For the policy to operate fully, customers must ensure :
- Any default or manufacturer’s passwords or access codes must be changed and kept secure.
- Data must be backed up no less frequently than every 7 days. They must check backup routine is working, and backups must be stored securely and separately from the original data or programs.
- All personal data and other sensitive, protected or confidential data must be stored and disposed of in a secure manner.
- Updates to software are to be carried out within 14 days of an update being released, where the product vendor describes the issue as ‘critical’, ‘important’ or ‘high’ risk.
- Computer equipment connected to the internet or an external network must be protected against unauthorised access by a suitable and active firewall that’s updated at least once a month.
- Computer equipment and any personal devices used for accessing their computer systems must have effective and up to date software protecting against the virus and malicious code that’s updated at least once a month.
- On receiving a cyber extortion demand they must immediately notify and comply with the requirements of our Claims Service Provider. They must also immediately report the crime to Action Fraud, the UK’s national fraud cybercrime reporting centre.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers that do not:
- use a computer or mobile device for their day-to-day work; or
- store private or sensitive data such as employee, customer or payment card information on a network or cloud.
To make sure the Cyber insurance policy operates fully a certain level of IT security and controls must be in place e.g. data must be backed-up on a frequent basis, up-to-date anti-virus software must be in place and critical software updates must be carried out within prescribed timescales.
Cover will typically exclude, any infringement of patents or misappropriation of trade secrets and errors and omissions in any professional advice or service
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Cyber Fair Value Assessment PDF
Engineering
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of business income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Who is this product designed for?
This product is designed for customers who run a business which owns or uses machinery, plant, computer and electronic equipment.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers whose business does not own or use machinery, plant, computer and electronic equipment and who do not require statutory inspections of their equipment to meet legal obligations.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Engineering Fair Value Assessment PDF
Fleet
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who own or lease vehicles and need insurance for third party liability as required by law within the Road Traffic Act and who wish to protect their vehicles from accidental damage, fire and theft.
This product also provides Motor Legal Expenses cover, which covers the legal costs of recovering financial losses, such as an excess or travel expenses, should the customer be involved in an accident or incident which isn’t their fault.
An optional cover extension for Vehicle Breakdown insurance including European Motoring Assistance is available.
Who is this product designed for?
This product is designed for customers who own or lease motor vehicles in connection with their business. It is designed for customers with 16 or more vehicles or with a fleet of any size that includes 7 or more vehicles over 7.5 tonnes.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
- Businesses that do not own or lease vehicles for business purposes,
- Businesses which do not meet the vehicle criteria above.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Latent Defects
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who require insurance protection for commercial or industrial property for damage caused by design and/or structural defects not discovered before the cover commences.
Cover can be provided up to 12 years from the date of practical completion of the property and is freely assignable to future owners of the property during this timeframe.
Who is this product designed for?
This product is designed for property owners, developers, financial institutions, landlords, tenants, leaseholders and contractors.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not property owners, developers, financial institutions, landlords, tenants, leaseholders and contractors.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Latent Defects Fair Value Assessment PDF
Legal Indemnities
What is this product?
This is a Commercial Lines General Insurance product suitable for both business customers and consumers.
What customer need is met by this product?
This product is designed for customers who, on the recommendation of their legal adviser, require insurance protection for defects on title to real estate that are revealed during the conveyancing process.
Who is this product designed for?
This product is designed for any owner(s) now and in the future of the freehold or leasehold interest in a property. It will also cover any bank, building society or other lending institution now and in the future holding a mortgage or charge on a property.
Cover under the policy is effective from the start date and continues for ever.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not purchasing a property through the conveyancing process, or who are not purchasing the product on the recommendation of their legal adviser.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Legal Indemnity Fair Value Assessment PDF
Management Liability
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who require insurance protection against actual or alleged wrongful acts.
Who is this product designed for?
Management Liability cover is designed to protect both individuals (in the form of Directors and Officers Liability) and companies (in the form of Employment Practices Liability and Corporate Legal Liability) against claims being made against them. Employment Practices Liability and Corporate Legal Liability are optional covers.
This product is designed for:
- Private Companies, Charities and other Not-For-Profit Organisations
- Public Companies
- SMEs through to FTSE 100 companies in a wide range of industries
- Start Up companies
- Companies listed on International Exchanges.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
This product is not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Management Liability Fair Value Assessment PDF
Marine Cargo
Marine Cargo - Target Market Statement (Revised)
What is this product?
This is a Commercial Lines General Insurance product suitable for commercial customers.
What customer need is met by this product?
- Marine Cargo Insurance protects you against loss of, or damage to, goods while being shipped around the world and transported across the UK, either by road, rail, sea or air. Single trip cover is available to cover one-off movements.
- Additionally, cover can be extended for the following:
- Cover for whilst the goods are stored outside of the ordinary course of transit using our easy-to-use Storage section.
- This product also comes with access to Oceanwide, which allows commercial customers to create certificates, to prove that they have cover for their Cargo voyages.
Who is this product designed for?
- Cargo is for United Kingdom and European domiciled exporters or importers, manufacturers, suppliers, wholesalers, retailers, selling agents and repairers.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
This product is specifically designed for commercial customers that ship goods around the world.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Marine Freight
What is this product?
This is a Commercial Lines General Insurance product suitable for commercial customers.
What customer need is met by this product?
- Freight Liability covers carriers’ and/or freight forwarders’ legal liability for loss of or damage to goods being moved or stored. Additionally, cover can be extended for the following:
- Temperature of Control Goods which covers the physical loss or damage to temperature control goods whilst temporarily stored off the vehicle.
- Errors and Omissions covers negligent acts, errors or omissions arising from incorrect instructions or clerical errors committed by directors and/or clerical staff.
Who is this product designed for?
- Freight Liability is for predominantly United Kingdom domiciled hauliers, freight forwarders and warehouse keepers, and certain European domiciled hauliers. It covers their contractual liability for loss of or damage to commercial customers’ goods.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
This product is specifically designed for commercial customers that ship goods around the world.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Minifleet
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who own or lease vehicles and need cover for third party liability as required by the Road Traffic Act, and who wish to protect their vehicles from accidental damage, fire and theft.
This product also provides Motor Legal Expenses cover, which covers the legal costs of recovering financial losses, such as an excess or travel expenses, should the customer be involved in an accident or incident which isn’t their fault.
An optional cover extension for Vehicle Breakdown insurance including European Motoring Assistance is available.
Who is this product designed for?
Businesses that have 1 to 15 vehicles, which can be a mixture of vehicle types but subject to a maximum of 6 vehicles over 7.5 tonnes.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses that do not own or lease vehicles for business purposes or that do not meet the vehicle criteria above.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Minifleet Fair Value Assessment PDF
Motor Trade
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a modular commercial insurance product covering businesses involved in the Motor Trade industry. There are no mandatory sections, with every cover being optional, which allows the customer to build a commercial insurance solution specifically for their business. The following covers are available:
Property
Financial protection for the business’ assets (including machinery, stock, vehicles, contents or buildings) following damage through events such as fire, theft (including that by their own employees), flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Road Risks
Cover for third party liability as required by the Road Traffic Act, and protection for the business’ vehicles from accidental damage, fire and theft.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
Accident & Health
Payment of a financial benefit in the event of accidental bodily injury to an employee and/or financial protection whilst employees are travelling for the purpose of the business.
Management Liability
Cover protecting both individuals (in the form of Directors and Officers Liability) and companies (in the form of Employment Practices Liability and Corporate Legal Liability) against claims being made against them.
Crime
Cover for any loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees and/or third parties.
Cyber
Cover protecting the business against the financial impact of cyber risks, such as hacker attacks, ransomware, social engineering fraud, denial of service attacks, reputational damage or compensation claims made against the business for failing to keep personal or commercial data secure.
Engineering
Financial protection for the business’ assets (including machinery, plant, computer and electronic equipment) should they be damaged or destroyed by events such as fire or breakdown.
Additionally, cover can be extended for loss of business income following insured damage to property.
The product can be extended to help customers meet their statutory obligation to have their machinery and equipment inspected at agreed intervals.
Who is this product designed for?
This product is designed for customers who run a motor trade business from one or more commercial premises in the United Kingdom and/or other parts of the world.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers who are not involved in running a motor trade business.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Motor Trade Fair Value Assessment PDF
Office & Surgery
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a packaged product designed specifically for businesses involved in the Services and Health industries, which are run from one or more commercial premises in the United Kingdom and which are seeking insurance protection.
This packaged product has the following covers automatically included:
Property
Financial protection for the business’ assets (which can include machinery, contents or buildings) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income or additional expenses to keep the business running following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Personal Accident
Payment of a financial benefit in the event of accidental bodily injury to an employee.
Employee Dishonesty
Cover for loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees.
Computer Breakdown
Cover for the breakdown of computer equipment, the resulting cost of reinstating data and any resulting increased cost of working.
Who is this product designed for?
This product is designed for businesses which occupy individual or multi-location office or surgery premises in the United Kingdom.
Businesses which have less than £5m overall sum insured per location with a maximum inner Computer limit of £250,000.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses which don’t meet the eligibility criteria above or whose trade isn’t within the Services and Health industries.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Office and Surgery Fair Value Assessment PDF
Pension Trustees Liability
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Protects the customer against personal liabilities arising from their role as a pension trustee and protects the sponsoring employer company.
Who is this product designed for?
Trustees of any United Kingdom domiciled pension scheme which is managed/owned by a United Kingdom based employer company.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Individuals who are not pension trustees.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Pension Trustees Liability Fair Value Assessment PDF
Professional Indemnity
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This product is designed for customers who require insurance protection against financial losses from a breach of professional duty.
Who is this product designed for?
This product is designed for any customer whose income is generated from charging a fee for their professional services.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers must be United Kingdom domiciled.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Professional Indemnity Fair Value Assessment PDF
Property Owners
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a packaged product designed for property owners who let up to 20 properties and who are seeking insurance protection.
This packaged product has the following covers automatically included:
Property Damage
Financial protection for the business’ assets (which can include buildings, communal contents and glass) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Cover for the cost of providing alternative accommodation in respect of residential properties.
Money & Assault
Cover for loss of money belonging to the business, and/or bodily injury to its employees as a result of assault or attempted assault whilst carrying money belonging to the business.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury.
Optional employers’ liability cover extension for the business’ legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Loss of Rent
Cover for loss of rental income following insured damage to property.
Landlord’s Contents
Financial protection for landlord’s contents following damage through events such as fire, theft and flood.
Who is this product designed for?
This product is designed for property owners who let up to 20 properties (whether they are residential, commercial or mixed use properties).
Building sum insured up to £7.5m for blocks of flats or £4m for private dwellings or commercial properties.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses which don’t meet the eligibility criteria above or who don’t rent out properties.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Property Owners Fair Value Assessment PDF
Pub, Restaurant and Hotel
Please note our Pub, Restaurant and Hotel product is in run-off. The Target Market Statement and Fair Value Assessment Outcome shown is the last available.
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a packaged product designed specifically for businesses involved in the Eating, Drinking and Hospitality industries, which are run from one or more commercial premises in the United Kingdom and which are seeking insurance protection.
This packaged product has the following covers automatically included:
Property
Financial protection for the business’ assets (which can include machinery, stock, contents, buildings and personal effects of guests and owners) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Personal Accident
Payment of a financial benefit in the event of accidental bodily injury to an employee.
Employee Dishonesty
Cover for loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees.
Who is this product designed for?
This product is designed for businesses which occupy individual or multi-location pub, hotel or restaurant premises in the United Kingdom.
Businesses which have less than £5m overall sum insured per location with a maximum inner Contents limit of £750,000.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses which don’t meet the eligibility criteria above or whose trade isn’t within the Eating, Drinking and Hospitality industries.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Pub, Restaurant and Hotel Fair Value Assessment PDF
Renewable Energy
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
Financial protection for the business’ assets should they be damaged or destroyed by sudden and accidental events such as fire or storm. Cover is available during both construction and operation phases. Additionally, cover can be extended for loss of business income caused by delay in start-up or business interruption, as a result of insured damage to property.
Who is this product designed for?
This product is designed for customers who run a business which owns or uses battery energy storage systems, onshore wind and/or solar photovoltaic projects.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Customers whose business does not own or use battery energy storage systems, onshore wind and/or solar photovoltaic projects.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product will be sold with advice and in line with FCA regulations.
How can this product be sold?
This product will be sold via brokers who interact directly with our underwriters.
Self Employed
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a packaged product designed specifically for businesses trading from home or from a third-party site that have no business premises to insure, with minimal stock and business contents cover requirements and a maximum of ten workers (including labour only subcontractors). Suited to businesses involved within the retail, leisure, construction and services industries.
This packaged product has the following covers automatically included:
Money & Assault
Cover for loss of money belonging to the business, and/or bodily injury to its employees as a result of assault or attempted assault whilst carrying money belonging to the business.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury.
Optional treatment liability cover extension for hairdressers/beauticians available.
Optional employers’ liability cover extension for the business’ legal liability to its employees for bodily injury available.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Property
Financial protection for the business’ assets (which can include machinery, stock and contents) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income or additional expenses to keep the business running following insured damage to property.
Personal Accident
Payment of a financial benefit in the event of accidental bodily injury to an employee.
Contract Works
Cover on an all risks basis which provides protection for the works, materials and plant (including hired in plant) for which the business is responsible, but excluding damage from a number of events such as wear and tear, gradual deterioration, and faulty or defective design materials or workmanship.
Who is this product designed for?
This product is designed for businesses trading from home or from a third-party site that have no business premises to insure, with minimal stock and business contents cover requirements and a maximum of ten workers (including labour only subcontractors). Suited to businesses involved within the retail, leisure, construction and services industries.
Cover can be extended for construction trades to include up to an additional ten bona-fide sub contractors or temporary employees.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses which don’t meet the eligibility criteria above or whose trade isn’t within the retail, leisure, construction and services industries.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Self Employed Fair Value Assessment PDF
Shop and Salon
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a packaged product designed specifically for businesses involved in the Retail or Hairdressing/Beauty industries, which are run from one or more commercial premises in the United Kingdom and which are seeking insurance protection.
This packaged product has the following covers automatically included:
Property
Financial protection for the business’ assets (which can include machinery, stock, contents or buildings) following damage through events such as fire, theft, flood, escape of water, subsidence and terrorism.
Business Interruption
Cover for loss of business income following insured damage to property.
Liabilities
Cover for the business’ legal liability to third parties for property damage or personal injury, and for its legal liability to its employees for bodily injury.
Optional treatment liability cover extension for hairdressers/beauticians available.
Legal Expenses
Access to legal advice to help pursue or defend a variety of legal proceedings, including property protection, employment, tax and contract disputes.
The product can be extended to include the following optional additional covers based on the needs of the customer:
Personal Accident
Payment of a financial benefit in the event of accidental bodily injury to an employee.
Employee Dishonesty
Cover for loss of money or other property as a result of theft, fraud or dishonesty by the business’ employees.
Who is this product designed for?
This product is designed for businesses which occupy individual or multi-location retail/salon premises in the United Kingdom, including internet-only traders that only have a storage unit with no customer access.
Businesses which have less than £500,000 stock and/or £5m overall sum insured per location.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses which don’t meet the eligibility criteria above or whose trade isn’t within the Retail or Hairdressing & Beauty industries.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product can be sold with or without advice depending on your preference and in line with FCA regulations.
How can this product be sold?
We would suggest that this product can be sold face to face or via telephone.
Shop and Salon Fair Value Assessment PDF
Warranties & Indemnities / Mergers & Acquisitions
What is this product?
This is a Commercial Lines General Insurance product suitable for business customers.
What customer need is met by this product?
This is a bespoke product designed specifically for businesses who are merging with, selling or acquiring another business and require insurance protection to cover breaches of warranties and/or indemnities given in the sale agreement. It is specifically designed to solve commercial risks arising during Mergers and Acquisitions transactions.
Insurance cover includes contractual damages, associated fees, emergency defence costs and buyer loss as a result of seller fraud.
Cover can be extended to include tax and contingent liability in the event that the legal interpretation of a tax requirement or other liability is challenged or overturned post-completion, resulting in a demand for payment.
Who is this product designed for?
This product is most suited to mid-market Merger & Acquisition transactions (i.e. deals with transaction values between £50 million and £1 billion). Having insurance in place is considered good corporate governance practice and a strategic risk mitigation tool by private equity buyers, strategic investors and major corporate acquirers alike.
Who is this product not designed to support, or are there any features that you should be aware of when offering this product to your customers?
Businesses that are not merging with, selling or acquiring another business OR who are merging with, selling or acquiring another business but do not require the additional protection available.
This product is also not suitable for consumers as defined by the FCA. A consumer is classed as any person who is acting for purposes which are outside their trade or profession.
Can this product be sold without advice?
This product is traded by specialist Insurance Brokers and external legal experts who will provide advice.
How can this product be sold?
We would suggest that this product can be sold face to face via a specialist Insurance Broker. Customers are sophisticated Corporate buyers who will be guided by external legal experts and specialist Insurance Brokers.
Warranties & Indemnities / Mergers & Acquisitions Fair Value Assessment PDF