Running a successful vehicle-recycling business hinges on efficiency and handling the unexpected. But what about legal surprises that could cripple your yard? Management Risks Liability is often dismissed as paperwork, but it can be the difference between a minor bump and a financial knockout. Howden Insurance bridges this gap, highlighting its importance in safeguarding your company.
Management Risks Liability is an important insurance to have but is often overlooked in the vehicle-recycling sector as some regard it as a pen-pusher type of policy. However, pens and pushing aside may just protect you from somebody suing you for all you have.
It does, in fact, cover any allegation of wrongdoing by a director or decision-maker within the business or the company as a whole. It will, in effect, defend a person or the business against claims for a wide variety of reasons.
These can include obvious things like trading insolvently and discrimination claims, but they may also pick up investigations from bodies such as the Environment Agency, HSE, etc.
We live in an age where litigation is commonplace, and government bodies are self-funding, so this policy truly does save your company thousands of pounds in the event of an issue as described.
There’s also a further element of cover for Employment Law protection, which covers employment tribunals and similar.
Overall, the cover is very competitive compared to your separate yard and vehicle insurance and at the very least, should be given serious consideration.
If you’d like further details, please contact Steve.
Steve Walker
Client Director
01384 398326
