The efficacy insurance specialist
Experts in efficacy cover
What is efficacy insurance?
Efficacy insurance is cover against legal liability for injury to third parties or damage to third party property caused by a product or service failing to perform its intended function. Efficacy insurance - otherwise known as " failure to perform" insurance - is excluded from nearly all standard UK liability insurance policies.
Why buy efficacy insurance?
Most professional bodies within the Fire, Security and Electrical Sectors recommend efficacy is included within your liability policy because of the protection it provides. An increasing number of organisations will not award or sub-contract work unless evidence of efficacy cover is in place.
Is efficacy expensive?
Choosing not to have efficacy cover is a false economy, especially if you need to claim. The type of work undertaken in industries where efficacy is excluded means costs quickly mount up.
£1 Million for damage repair doesn't go far and most specialist efficacy providers use it as their baseline. Nowadays most companies arrange £5 Million Public/Product Liability (including efficacy), some taking up an Excess Layer of an additional £5 Million, taking the full coverage amount to £10 Million. Evidence of such cover is often needed before contracts can be awarded or commenced.
Why buy efficacy from us?
efficacybroker.co.uk has roots dating back to the 1970s and is a family owned firm. A pioneer of efficacy cover from the 1980s, in our guise of Sandham Davies & Jones Ltd, we are broker of choice for the BFC, and the UK Fire Association.
We are an independent broker and tailor cover to suit your needs and budget, whether a low cost Per Capita plan (based on the number of manual workers) or a bespoke policy permitting more high risk or specialist work, such as in airports or power stations. Click the button to visit our sister site, Sandham Davies & Jones Ltd.
Reasons to use efficacybroker.co.uk
What is Public/Product Liability Insurance?
Public/Product Liability indemnifies a firm against any compensatory damages and claimant costs in connection with legal liability for accidental iunjury or property damage arising in connection with the business. The Product Liability component protects a firm against costs incurred from accidental bodily injury to a third party or accidental damage to their property arising from goods supplied.
What is Employers' Liability Insurance?
Employers' Liability Insurance covers a firm's legal liability for the accidental death or injury to its employees (including claimant's costs and expenses) arising from activities in connection with the business and caused by negligence.
The Employers' Liability Regulations 1998 make employers' liability compulsory for any individual or company with employees. You are only exempt if you run your own Limited Company with yourself as the sole employee and you own 50% plus of the issued share capital.
A valid employers liability certificate must be displayed at the place of business and where employees are working. Since October 1st, 2008 your certificate can be stored electronically providing all employees have access and are aware of its location. Employers' Liability insurance is automatically set at an indemnity level of £ 10 Million.
What is Professional indemnity Insurance?
Professional Indemnity cover protects your legal liability to compensate third parties should they sustain injury, loss or damage as a result of professional negligence.
Most liabilities arise from failing to adequately inspect equipment, design errors, inadequate supervision of work in progress, or negligent certification. It would be worthwhile considering Professional Indemnity insurance if you do any of the following:
What is Contract Works?
Contract works insurance covers loss or damage to temporary and permanent construction works plus the the cost of any materials should they be damaged or stolen prior to completion. Contract works insurance may be arranged to cover new builds, refurbishments, repairs or extensions.
What is Own and Hired-In Plant?
Own plant and/or hired in plant insurance is vital for contractors who use complex and expensive machinery as part of their everyday business. Cover may be extended to include items on the contract site, in transit to and from the contract site, as well as being temporarily stored elsewhere. This cover does not extend to hand tools, ladders, or other low value kit.