Welcome

To Bond Insurance Services Ltd

The Railway Contractors Scheme

We are the Specialist Insurers Bridging the Gap in The Railway Industry

Public Liability insurance is designed to protect your business and you as a Contractor against a variety of risks which you will not come across in day-to-day private life. However, with the tightening of European Union commercial and Human Rights legislation; it has never been more important to ensure that as a Contractor you and your business have adequate cover.

The Public Liability Insurance market in recent years has been very fragile, and changeable, so it is therefore important to appoint a specialist Professional Public Liability broker to act in this ever changing market, and who will be familiar with the Railway Consultants governing bodies’ requirements.

We will obtain the best available terms for your business, and with policies and wording to match your requirements. We offer a speedy and reliable service.

In a society where the first call after an accident happens is often to the solicitor rather than the hospital, public liability insurance is something a small business should take seriously.

As a business owner, you have a legal responsibility towards your customers and the public. You could be held legally liable and risk being sued if a member of the public is injured as a result of your negligence or breach of duty.

Public liability insurance covers claims made against your business, if its owners, directors or employees are shown to be responsible for personal injuries to a third party or damage to property.

If you are a contractor and you are not covered by public liability insurance, you are strongly advised to take action now.

What else should I know?

Our public liability insurance also includes cover for any legal costs associated with defending claims against the business. This type of insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business. If their personal injury compensation claim is successful, you may also face a claim from the NHS for the costs of hospital treatment (including ambulance costs).

Premiums will depend on the type of work undertaken.

We only charge you for the cover you select – we will not charge you for cover you do not need.

Limit of Indemnity

The minimum limit is £5m and is a condition of the scheme.

Compensation can be significant amounts of money. You might have to sell your house and anything else of value if the claim is large. If you do have lots of spare money that you don't mind parting with then you can ignore this.

We can also arrange Employers Liability (Combined with Public Liability)

Employers Liability Insurance is required by law once one employee is taken on. The prescribed legal minimum is currently £10m of cover against bodily injury, illness or disease sustained in the course of employment. The subsequent huge increase in litigation, the emergence of 'ambulance chasers' encouraging the 'someone must pay' culture, record-breaking court awards and a whole raft of new liabilities undreamed of when the legislation was drafted have all added to industry losses.

Employers Liability insurance became a legal requirement in 1972 as a direct result of the 1969 Employers Liability Act. As a result, employers liability cover has become increasingly expensive and, in some cases, impossible to obtain.

What else should I know?

As a result of increasing payouts for high-risk sectors many insurers have stopped offering employers liability cover to entire trade sectors, tarring many companies with the same brush

Good risk management is the key to continued insurance and low premiums.

Companies need to do more to reduce the risks inherent in their businesses by ensuring they have, hazard and risk management systems and a claims history to identify significant patterns.

Companies that are unable to obtain employers liability face two stark options. Either carrying on trading illegally without insurance or close down.

• Quotations are available subject to the satisfactory completion of a proposal.
• Cover will be confirmed promptly upon written instructions.

It does not cover you for any claims made against the business for negligent advice. For this cover, you will need a separate professional indemnity policy. This is often called professional liability insurance. You will need to contact Bond Insurance Services Ltd for a quote.