Axa Business Insurance: Public Liability and More
What is AXA Business Insurance?
French multinational AXA is an insurance firm headquartered in Paris’ 8th arrondissement. As well as insurance, it also provides other services relating to finance, such as investment management. It works with customers worldwide, primarily in North America, Western Europe and the Middle East, as well as having a presence in Africa and the India Pacific region.
It has been providing these services for many, many years. Its predecessor was founded over 200 years ago in 1816, although French businessman Claude Bébéar created the company’s current incarnation in 1985. The company has over 150,000 employees spanning the 54 countries where it operates, with over 105 million clients putting trust into AXA’s daily services, making it one of the leading global insurance companies.
What are AXA’s Values?
On top of providing a global insurance service, AXA also prides itself on its commitment to preventing climate change and the subsequent strategies for the company. They say that not only do they want to “adapt, but also to take advantage of our expertise to provide solutions”. One of the primary ways that AXA sees itself contributing to this cause is through its expertise in risk management, which is a skill that will undoubtedly prove invaluable as the fallout of global warming develops.
In the UK, the business trades under the name Axa UK. Axa Wealth, Axa Health and Axa Insurance are all subsidiaries of the parent AXA company.
The company has built quite a reputation as a business insurer in the public liability sphere and some others. Its public liability insurance has built quite a name for several reasons. Its low starting prices of only £59 a year are a large part of this, whilst the £5 million maximum protection on offer also helps keep clients’ minds at ease.
These financial numbers apply to things such as compensation and preceding legal costs, as well as £250 of compensation paid daily for any court appearances you are obliged to make to defend a claim made against you. This includes coverage for temporary staff free for up to 50 days a year, and staying on top of the whole process is made heaps easier by the 24 hours legal hotline.
All of these benefits are there if someone is injured by accident in your workplace or their property gets damaged accidentally due to the activities of your business, such as a mistake in the premises or the supply of faulty goods. These incidents often have legal repercussions and later become a financial burden when you’re ordered to pay compensation. Public liability comes in useful in these situations by protecting your business against these sorts of claims that people make to cover the costs of damages and legal proceedings.
All sorts of things can trigger these situations ranging from someone slipping on a wet floor to a more significant industrial accident, so being covered for all possible eventualities is key to long term security and keeping peace of mind.
Axa can also provide different types of insurance that many businesses benefit from.
What Policies Does AXA Business Insurance offer?
One of the key policies is employers’ liability insurance, which is very similar to public liability insurance but instead protects your employees and situations involving them rather than incidents with members of the public. If your business has any employees, it is legally obliged in countries such as the UK to have employers’ liability insurance. This may seem like a drag, but it helps protect you and your staff, which is financially essential and key to creating a good work environment for everyone present. Even if it weren’t obligatory, it would still be a pivotal policy to look out for from AXA.
A handful of other types of insurance that AXA offers are worth considering depending on your profession, industry, and setup of your business.
Whilst employers’ liability insurance will be crucial for large companies, something such as AXA’s tools, plant and equipment cover will be more essential for many sole traders, such as handymen or other occupations that require their equipment to operate. Similar to this is hired-in plant equipment, while for those who speak advice more than tools, AXA’s professional indemnity insurance may come in more handy.
To Conclude: AXA Business Insurance
There’s quite an extensive range of options provided by AXA business insurance, which is no surprise given the company’s size. Luckily they’re easily contactable, so it shouldn’t be too hard to sit down and work out with them the exact right business insurance plan for you.
Find out more about the importance of insurance here.
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