Trades & Professions Insurance Policy Summary This is a Policy Summary only and does not contain full terms and conditions of the contract of insurance. These can be found in the Policy document, a copy of which is available on request. Excesses (the amount of any claim that you are responsible for) are shown on the Policy Schedule. Insurer Liverpool Victoria Insurance Company Limited. Type of LV= s Trades & Professions Insurance is designed to cover the legal liabilities of your business and accidental loss or damage to tangible property such as your plant and tools and contract works. Public Liability cover is compulsory. Employers Liability and Contractor s All Risks covers are optional Sections and will only apply if you have selected them and they are shown on the Policy Schedule. Significant features & Significant or unusual exclusions or limitations Section 1: Public Liability This Section protects you for your legal liabilities to pay compensation and legal costs for accidental death or personal injury to any person (excluding employees) and accidental damage to third party material property. Territorial Limits are England, Scotland, Wales, Northern Ireland, the Channel Islands and the Isle of Man. Limit of Indemnity 1,000,000 with an option to increase to 2,000,000 or 5,000,000 for most trades or occupations. The Limit of Indemnity is shown on the Schedule. Insured s liability for the acts of Bona Fide Subcontractors included. Indemnity to Principal Clause. Includes cover automatically for temporary employees for up to 50 days. Principal Exclusions 250 third party property damage excess payments to Bona Fide Subcontractors must not exceed 25% of annual turnover and evidence of their own insurance must be obtained excludes work in or on or in connection with: docks, harbours, quays, wharves, watercraft, railways, aircraft, airports or airfields chemical or petrochemical works, oil or gas refineries or storage facilities collieries, mines or quarries, nuclear installations, power stations professional advice and treatment Precaution Conditions apply to the use of heat, bitumen based products, solvents and glue and digging or excavation below ground level
Section 2: Employers Liability This Optional Section protects you for your legal liabilities to pay compensation and legal costs for accidental death or personal injury to employees. Territorial Limits are England, Scotland, Wales, Northern Ireland, the Channel Islands and the Isle of Man. Limit of Indemnity 10,000,000. Indemnity to Principal Clause. Includes cover automatically for temporary employees for up to 50 days. Clerical employees included without charge for Contracting trades. Principal Exclusions excludes injury involving motor vehicles in circumstances where motor insurance is required by law excludes work in or on or in connection with: docks, harbours, quays, wharves, watercraft, railways, aircraft, airports or airfields chemical or petrochemical works, oil or gas refineries or storage facilities collieries, mines or quarries, nuclear installations, power stations Section 3 Contractor s All Risks This optional Section protects you from accidental loss or damage to the following optional items of tangible property forming The Contract Works (maximum 250,0000 any one contract) Contractor s Plant Tools Hired in Plant Territorial Limits are Great Britain, Northern Ireland, the Channel Islands and the Isle of Man. Principal Extensions Limit Debris removal Defects and Maintenance Liability Period Directors and Employees Personal Effects Plans- Costs of Reproduction Professional Fees European Union and Public Authorities Expediting Expenses Immobilised Plant Continuing Hire Charges & Negligent Breakdown Offsite Storage at Third Party Locations Tools of Temporary Employees 10% of the lesser value of the Contract Price or Maximum Contract Value 90 days or as specified in the contract whichever is the lesser period 1,000 any one item and 10,000 in the aggregate 10% of the contract price or 10,000 any one loss whichever is the lesser the fees necessarily incurred 5% of the value of the Contract Works limit 10,000 in any one period of insurance 50% or 25,000 whichever is the lesser the costs and expenses necessarily incurred upto 15,000 for any one item of Hired in Plant 15% of the contract price or 10,000 any one loss whichever is the lesser 500 any one item and 1,500 any one loss (this Extension is available where Tools are insured)
Principal Exclusions consequential loss liquidated damages penalties for delay or non-completion loss of use guarantees of performance damage due to work ceasing on the Contract Site of any contract for a continuous period in excess of 45 days consecutive days railway locomotives rolling stock watercraft or aircraft vehicles licensed for road use unless on contract site tyres by application of brakes or by punctures cuts or bursts defective workmanship, design or materials disappearance unexplained or inventory shortage misfiling or misplacing of information change in water table level corrosion rust wet or dry rot shrinkage evaporation loss of weight dampness dryness marring scratching wear tear or other gradual deterioration mechanical or electrical breakdown or derangement pollution or contamination Own contractor s plant and tools whilst let out on hire Section 4 Legal Expenses scratching tearing or fouling by pets or domesticated animals damage to Contractors Plant caused by its own explosion vermin or insects Damage to deeds, bonds and/or Money Damage to the Contract Works after being completed acts of fraud or dishonesty damage to existing structure This Section indemnifies you in respect of claims for Legal Expenses and Professional Expenses notified within the Period of Insurance. s provided are: Sub-Section A - Criminal Prosecution, Sub-Section B - Tax Protection, Sub-Section C - Data Protection, Sub-Section D - Personal Injury The Limit of indemnity under each Sub-Section is 100,000 any one claim and 1,000,000 in the aggregate Significant Features and Benefits Sub-Section A - Criminal Prosecution Defence of criminal prosecutions and appeals against Improvement Notices or Prohibition Notices under the Health and Safety at Work Act or the Food Safety Act. Sub-Section B - Tax Protection Expert representation for your business in the event of either an in-depth tax or an Aspect investigation, a VAT tribunal, or an Employer Compliance dispute. Significant Exclusions or Limitations excluding: HMRC investigations any prosecution for offences against the person or criminal damage allegations of dishonesty any prosecution for non-endorsable road traffic offences allegations of speeding or driving whilst under the influence of alcohol or drugs failing to insure a motor vehicle as required by law excluding: technical or routine treatment of matters taxation proceedings arising out of negligent mis-statements or omissions by the Insured or a lack of reasonable care in keeping business books and records where the Anti-Avoidance Intelligence Unit of HMRC are involved where the Insured has not notified chargeability to tax within the statutory time limits any enquiry under Public Notice 160 or Section 60 of the VAT Act 1994 or matters handled by HMRC Specialist Investigations Civil Investigations of Fraud and Criminal Investigations Sections and Code of Practice 8 and 9 cases defence of a criminal prosecution investigations solely into earlier accounts or records preparation or correction of Self-Assessment return
Sub-Section C - Data Protection Defence claims arising out of an application or appeal under the Data Protection Act and payment of compensation awards made against the Insured under the Act. Sub-Section D - Personal Injury Pursuit of claims for compensation following a personal injury. disputes concerning Working Families Tax Credit, National Minimum Wage, IR35 legislation where Corporation Tax and Income Tax Self- Assessments Returns are submitted outside the statutory time limits an investigation arising out of a voluntary disclosure made to HMRC in respect of omitted tax NIC or VAT liabilities which become due as a result of the Insured s deliberate act or following an HMRC amnesty where the Insured has made an incorrect return to HMRC Principal General Policy Exclusions War Sonic bangs Terrorism Government action Date recognition Illegal deliberate and criminal activities Radioactive contamination Computer virus Period of cover The policy duration is 12 months and is annually renewable (unless shown differently on your policy schedule). Cancellation You have the right to cancel your Policy from inception within 14 days of the receipt of the documents at the start of the insurance ( the cooling off period ) if the cover does not meet your requirements by returning all documents and any certificate to the Broker Intermediary or Agent who arranged the Policy We shall return any premium paid in full within 30 days of the receipt of the notice of cancellation from the Broker Intermediary or Agent if the cover is cancelled either a) before the inception date or b) within the 14 day cooling off period provided that no claim has been made or incident advised that could give rise to a claim in these circumstances no return of premium will be made. If you wish to cancel at any other time, please contact the Broker, Intermediary or Agent who arranged the Policy. How to make a claim Please contact the Broker, Intermediary or Agent who arranged the Policy. Please quote your policy number.
How to complain If you have a complaint about your policy or the service you have received please contact the Broker Intermediary or Agent who arranged the Policy for you. If they are unable to resolve your complaint you may refer your complaint to the Financial Ombudsman Service within six months of receiving their final response letter. Should you be unhappy with the service provided by LV=, please contact us by phone on 0800 678 3161 or write to us at LV=, County Gates, Bournemouth, BH1 2NF. E-mail: feedback@lv.com Please quote the Policy Number in all correspondence. A copy of our complaint handling procedure is available on request. If we cannot resolve your complaint you may refer your complaint to the Financial Ombudsman Service within six months of receiving our final response letter. The address is: Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR. Telephone: 0800 023 4567 or 0300 123 9 123 (from mobile or non BT lines) e-mail: complaint.info@financial-ombudsman.org.uk Website: www.financial-ombudsman.org.uk Making a complaint will not affect your right to take legal action. Compensation If we are unable to meet our liabilities to our policyholders, you may be able to claim compensation from the Financial Services Compensation Scheme (FSCS). There are different levels of compensation, depending on what kind of insurance you have: Compulsory insurance such as third party motor insurance, is covered for 100% of the claim. Non-compulsory insurance, such as home insurance, is covered for 90% of the claim. You can get further information from the Financial Services Compensation Scheme. 10th Floor, Beaufort House, 15 St Botolph Street, London, EC3A 7QU. Telephone 0800 678 1100 or 020 7741 4100 or e-mail, enquiries@fscs.org.uk. LV= and Liverpool Victoria are registered trade marks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. Liverpool Victoria Insurance Company Limited, registered in England and Wales number 3232514 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 202965. Registered address: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333 21549847 06/15