Kingsbridge had an interesting and very jolly new client call up this week, looking for cover for his present manufacturing and delivery business based in the Arctic Circle. The client works on a contract basis for approximately 75 million parents across the world. The majority of his deliveries are scheduled for December 25th, so this is an extremely busy time of the year for him. He asked us to quickly assess his insurance needs – here are our recommendations.
This client is world-renowned and his reputation is first class. However, with over 600 million presents to deliver, there is always a chance that an unforeseen error might mean a child receives the wrong present on Christmas morning. We advised that he protect himself with a sufficient level of professional indemnity insurance to cover damages arising from such an incident.
Our client’s work involves him entering the homes of families around the world, typically gaining entry by landing his vehicle on the roof and sliding down the chimney. This clearly comes with a risk to property – damage to roof tiles and slates caused by reindeer hooves, or carpets soiled with soot are an inevitable consequence of this method of delivery, however efficient it may be. We therefore suggested that the client seek a good level of public liability cover, to insure against damages awarded for harm to property or persons. As his main method of commuting is by flying sleigh, we also recommended the client take out additional insurance to cover work at height, an optional extra that clients can add on to Kingsbridge’s package.
This client does employ a team of elves and his spouse who does the accounts and tends to the reindeer. As toy-making can be a hazardous occupation involving the operation of heavy machinery, we would definitely recommend he takes out employers’ liability insurance. We advised him that our package also includes directors’ and officers’ liability insurance. Since parents all over the world trust him with their hard-earned Christmas savings, this cover will provide legal defence costs and protection of assets in the event that he is accused of mismanaging these funds.
As a sole contractor, this client shoulders a huge amount of responsibility for his business. Without him, there is no Christmas. We thought that occupational personal accident cover was essential, especially given the risky nature of his activities. In the event that he encounters a still-burning fireplace at the bottom of the chimney, a ferocious dog in a living room, or slips on an icy roof, this will provide cover while he recuperates from any injury sustained in the course of his business.
Our insurance coverage is international, so this should extend to most of his round the world activities, though we did recommend he add on extra coverage for his visits to the USA and Canada which are major areas of business for our client.
Can Kingsbridge help you assess your insurance needs this Christmas? Give one of our friendly elves a call on 01242 808740 and we’ll talk you through it.