Online Accountant Services

What is business insurance?

Business insurance is protection that covers your company against financial losses from risks like property damage, liability claims, cyber attacks, and business interruption, and while not legally required for most UK businesses, it's essential for protecting your assets and ensuring compliance with client contracts and professional requirements.

What is business insurance? - Business Insurance Explained - GoForma Business Resources | UK Accountants & Tax Advisors
This article is part of our Online Accountant Services guide — your essential resource for understanding the basics.

Business insurance is designed to protect you from the risks associated with running a business.

As a business owner (whether you’re a sole trader, or are running a partnership or a limited company), the onus is on you to think about the risks you face as a business—and to get them covered.

While some risks and their accompanying covers are common to most businesses, others are more niche. The protection you’ll need will depend on the risks your business faces.



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