Combined Insurance For
Research and Development Companies.
As a technology business in a research and development phase your
requirements do not differ from those of a mature business in terms of the type
of insurance that you need, however without commercial sales your business
presents a very different risk profile to insurers. In particular, the creation
of prototypes, models, samples or other items used for further research still
creates a need for Product Liability cover however the risks are significantly
reduced.
This is why MFL has developed a specific insurance product in this area that
can provide cover at a significantly reduced cost in respect of:-
Employer's Liability (Standard Cover)
Public and Products Liability (Standard Cover)
Business Assets (Optional)
Loss of Income (Optional)
How Do I Obtain A Quotation?
Working in close conjunction with insurers and many incubators and mentoring
groups, we have created an on line application. In doing so, we have
significantly reduced the amount of information you will have to supply by
lodging basic information with insurers about many of the incubator and
university facilities in the North and Midlands. If you are not in one of the
listed facilities on the on line application please select 'Other' and one of
the team will be in touch with you for further information.
IMPORTANT:
To qualify for this product the business for which you are seeking insurance
must not have made any previous commercial product sales nor have plans to do so
in the forthcoming 12 months. Where such sales have been made or are proposed
please contact one of the team.
Before you undertake to complete our on line application you will need to
have the following information to hand.
1. Basic financial information such as the replacement value of equipment and
wageroll.
2. A copy Business Plan including financial projections. You will be required
to upload this as either a PDF or Word document. If a Business Plan does not yet
exist please upload a brief summary of the business.
