Compare Financial Loss Insurance | Insurance Business UK

Compare 268 products offered for Financial Loss Insurance from 82 companies including Aon plc, Islands Insurance, and Markel UK.

Our Insurance Comparison Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. Struggling to sort through the choices? Our Frequently Asked Questions can explain Financial Loss coverage in greater detail.

Compare Financial Loss Insurance Policies

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Products 1 to 10 of 268

Product name	Max Coverage	Min Premium	Exclusions
Transactional Environmental by The Channel Syndicate	Max Coverage N/A	Min Premium N/A		more details
Roofers and Scaffolders by Touchstone Underwriting Ltd	Max Coverage GBP10M	Min Premium GBP8K	specific types of loss or damage (see specific policy wording)	more details
Shop and Restaurants by The New India Assurance Company Ltd	Max Coverage GBP10M	Min Premium N/A	dry cleaners hairdressers jewellers tattoo and piercing terrorism coverage in Northern Ireland vacant or unoccupied risks	more details
Residential Property Owners by The New India Assurance Company Ltd	Max Coverage GBP5M	Min Premium N/A	terrorism coverage in Northern Ireland vacant or unoccupied risks	more details
Hotels, Guest and Public Houses by The New India Assurance Company Ltd	Max Coverage GBP10M	Min Premium N/A	terrorism coverage in Northern Ireland vacant or unoccupied risks	more details
Care Homes by The New India Assurance Company Ltd	Max Coverage GBP5M	Min Premium N/A	terrorism coverage in Northern Ireland vacant or unoccupied risks	more details
Business Combined by The New India Assurance Company Ltd	Max Coverage GBP5M	Min Premium N/A	terrorism coverage in Northern Ireland vacant or unoccupied risks	more details
Over Redemption by CFC Underwriting Ltd	Max Coverage GBP20M	Min Premium GBP1K		more details
Research and Development by CFC Underwriting Ltd	Max Coverage GBP10M	Min Premium GBP275	animal testing contraceptives or products used for reproductive use genetic testing services	more details
Intellectual Property by CFC Underwriting Ltd	Max Coverage GBP10M	Min Premium N/A	certain types of software (including anti-virus and payment processing) companies with a standard essential patent exposure companies with a turnover of GBP / USD 1billion or more large medical devices and pharmaceuticals semi-conductors telecoms and certain types of computer hardware third party content hosting websites volume consumer products	more details

Frequently Asked Questions

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What Is Financial Loss Insurance?

Insurance against Financial Loss protects businesses and companies if they have caused a third party to claim a Financial Loss as a result of their actions.

Financial Loss, or pure economic loss, can be defined as:

A loss or expense incurred by any person other than the insured
A loss or expense incurred by any person other than the insured resulting from the sale of supply of products
A loss or expense not related to a physical injury or damage to property

Some business activities can cause a severe financial impact to others which was not their fault.

If a third party makes a claim for a Financial Loss, they are accusing another company or business of an act of negligence or a breach of contract that has resulted in them making extra payments or are out of pocket due to incurring unnecessary expenses.

Financial Loss can only be declared if it has not involved a physical damage or injury to another party (this would be covered under a Commercial General Liability or Public Liability insurance policy).

Who Needs Financial Loss Insurance?

Any company or individual who enters into business transaction or contracts should consider protection against a Financial Loss. Typical clients include:

business transactions
event organizers
project managers
commissioned/contracted works
manufacturers

What Does Financial Loss Insurance Cover?

By entering into a contract or providing a guarantee that the accused party cannot fulfil, Financial Loss insurance is able to cover the costs of a claim if the maker of the claim has taken a financial hit as a result. Financial Loss insurance can cover costs related to the following:

damages legally liable to be paid in respect of a claim
business interruption
event cancellation
breach of contract
trade credit
financial guarantees
legal expenses

What Is Not Included In Financial Loss Insurance?

Typical exclusions in a Financial Loss insurance policy may include financial loss caused by physical injury or damage, illegal acts, and/or fraudulent activities.

How Much Is Financial Loss Insurance?

Financial Loss insurance can normally be bought as part of an extensive coverage or as an add-on for any of the following types of coverage:

Commercial General Liability
Transaction Liability
Event Cancellation
Professional Liability
Directors and Officers Liability
Umbrella/Excess
Legal Expenses

The cost of covering a Financial Loss will either be included in the overall package or an amount calculated as extended cover taking into consideration the size of the company, the potential impact of a negligent act and any previous similar claims.

Financial Loss Insurance Products