Business insurance

[Business Brian]

The bank finally realised that I don't have business insurance, and decided to push the issue. I figured it was worth looking into...but when the sales team called today, as soon as they realised I offered webhosting they went cold, and with a rather disappointed tone of voice said farewell.
 
 It's got me thinking now - is this something I really need to look into much more seriously? Especially when my liabilities seem very limited. And who actually provides business insurance for companies that offer web hosting anyway?

[JamesSmith]

The bank finally realised that I don't have business insurance, and decided to push the issue. I figured it was worth looking into...but when the sales team called today, as soon as they realised I offered webhosting they went cold, and with a rather disappointed tone of voice said farewell.
 
 It's got me thinking now - is this something I really need to look into much more seriously? Especially when my liabilities seem very limited. And who actually provides business insurance for companies that offer web hosting anyway?

 We have been unable to get insurance, we mention Internet related services and get told if your hosting chat rooms or forums they cant do it.
 
 So thats errr .. virtually everyone in the hosting industry
 
 Having spoken to a business advisor from the chamber of business .. he said to be quite honest you dont need it.  Life insurance though would be a good idea.

[revsorg]

We had to get some hefty business insurance in order to win a particular contract.  We don't do hosting, so that wasn't a problem.  What I will say though is that it's definitely worth searching for a good deal.  Our first quote from a local high street broker looked like it was going to cost a couple of thousand pounds, and they were having to place a special risk with an underwriter at Lloyds.  Quite frankly, I don't think they knew what they were doing, but if you're new to the marketplace yourself it's hard to judge.  I can't remember who we eventually went with, but it ended up costing hundreds, and fingers crossed we haven't needed it yet!

[Business Brian]

I've checked recently on the issue of emploer liability insurance - seems so far that so long as I'm a single director company, then it's not so much of an issue.

[Slashmire]

I can't help you there...but I'm impressed (and curious) about how they gave you a cold shoulder...if something new arise, do mention it 

[Business Brian]

For some reasn insurance companies get really nervous about webhosting. I think it's a liability issue in one regard, but also many insurers simply don't know how to handle it. Lots of big firms especially still see the internet as a scary new thing, and have yet to accept both it and the potential liabilities in real world terms.