Services for Business

Business

PSP commenced business in 1980 and we have been advising our clients for almost 4 decades. We pride ourselves that the team we have built over this time is experienced, professional and customer centric. Our experience coupled with the extensive insurer partners we trade with enables us to design insurance and investment portfolios for all sizes of business and individuals.  As an independent advisor we always strive to protect our client’s interests and see this as central, not only to our placing programme but also in the most important area of claims settlement.

Insurance Solutions

PSP have the expertise to assist all types of business and all our qualified insurance staff will advise and provide free quotations for single or entire insurance programmes.

Financial Solutions

PSP have the expertise to assist all types of business with financial planning and key man protection. All our advisors are independent, experienced and qualified. We can provide solutions for single or group requirements. Our advice backed up by reports and quotations is normally free.

“PSP have been looking after our commercial, car and travel insurance for more than a decade, now. As soon as they took over, they identified a number of significant gaps in our cover, assessed them and then recommended appropriate cover to ensure that we were properly protected.”

Insurance Solutions for Business

Every business is different, we like to fully understand your business and help you design your own individual portfolio of covers

Asset Protection

All businesses need to protect their buildings, contents, money or stock in trade. We always recommend All Risks cover but if required individual perils can be specified for bespoke protection. Assets need to be covered on your own premises, at customers premises and in transit. We will design an affordable insurance programme to ensure you business assets are protected.

Business Vehicles

We provide the complete service for fleet insured vehicles. Each year we like to research the market for our clients, once cover is placed we provide our first class claims administration service at no extra cost. Increasingly privately owned vehicles need cover for business use and we also have excellent markets for individual commercial vehicles or business cars not forgetting plant and special licensed vehicles. We also offer a ‘Family Business Fleet’ policy which is extremely popular.

Consequential Loss

Whether you prefer to call it Loss of Profits insurance or Business interruption this is valuable cover sometimes overlooked by business insurance buyers. We consider it essential that every business protects it’s income and this type of cover certainly helps. Another area of neglect is the indemnity period so professional advice is very important.

Financial Loss

Directors & Officers Liability: This is an increasing important area of cover for most businesses. D & O cover protects individual directors and/or officers and is also available for partnerships and LLP’s.

Other financial loss covers which we are regularly arranging for our clients are, commercial legal expenses, fidelity insurance, employment law protection and trustee liability.

Legal Liabilities

Employers, public and products liability is generally understood but what level of cover should we have? what is the legal minimum? Please explain the difference? These are all common questions which we are asked. PSP have the knowledge and expertise to advise and arrange the cover for your needs.

Professional Indemnity

Usually a cover taken out by businesses which give advice and/or design. Increasingly these days professional indemnity insurance is needed when in the past businesses could simply rely on public and products liability only. We are experienced in advising on all aspects of professional indemnity cover whether it is for one of the traditional professions, new technology businesses or contractors needing professional indemnity to complement their existing public and products liability covers.

“I have been using Jerry Musselwhite at PSP as my financial adviser for many years and am impressed by the level of attention to detail that he applies to assessing my requirements. The “Life Plan” system he uses on a regular basis helps me to understand the financial implications of increasing life expectancy and how to ensure that my money will not run out!”

Financial Solutions for Business

Key Person

Many managers and business owners are so immersed in their business they seldom have time to consider the potential financial impact on their business that could follow the loss of a key person. Indeed, many may not know who their key people are. People relate to individuals, so the loss of a director, sales manager, department manager or IT specialist can have a devastating financial effect on any business. There can be other less easily identified people within many businesses whose loss could be just as devastating.

We have solutions that can act as a financial buffer to such events whether they are caused by death or long term illness.

Equity Interest Share protection

A worry for many businesses could be the death or long term illness of a shareholder; this is compounded if the shareholder involved is also a business producer as is often the case. Cover can be arranged to buy out the shareholding interest protecting the business and also benefiting the family of the departed shareholder.

Policies are available to cover death critical illness and other long term illness.

Death in Service

Life insurance can be equally valuable to working shareholders and other employees. The most important resource in most businesses is its work force. So making sure that you do everything possible to protect it against attrition is of benefit to the company. Offering staff death in service cover alongside such benefits as pensions, group sick pay and private medical insurance can be valuable tools in attracting and retaining good people.

We can help you by designing a programme of employee benefits so you pitch your employment offer at the right level

Pension Plans

Company pension schemes need not be expensive, money purchase arrangements keep a control of costs and provide an excellent staff benefit. Self Investment Pension schemes for business owners are becoming increasingly popular and keep you more in control of your investments.

At PSP Group we have the advisors to ensure you receive the right advice and help you establish the solution for both owners and employees.

Private Medical Insurance

Another valuable benefit for directors, owners and employees, particularly since the costs are usually lower than for stand alone plans. Apart from the obvious benefit to employees it is extremely important to any business that their key people can obtain quick treatment and therefore, early return to the business.

We have access to all the schemes and can provide a solution for individual people or large groups of employees.

For more information please get in touch…

PSP Group is a trading style of PSP Insurance and Financial Solutions Ltd which is authorised and regulated by the Financial Conduct Authority under register number 303461 for Insurance Mediation activities and as a Credit Broker, and does not charge any fees to customers in relation to Credit Broking activities. Registered Office 20-22 The Bridge, Chippenham, Wiltshire SN15 1EX Registered in England No. 4616351.
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