Think global

Craftseller - - Q&a - ROWAN BURNS, LIVER­POOL

I have started to sell abroad more reg­u­larly now. Do I need sep­a­rate in­sur­ance for this? EMMA SAYS: I have checked with in­sur­ers, Direct Line for Busi­ness (di­rect­line­for­busi­ness.co.uk) who say: “Whilst there is no obli­ga­tion to have in­sur­ance to trade in­ter­na­tion­ally, whether that’s in the EU or out­side of the EU, there are some key is­sues to con­sider, such as pro­tect­ing your busi­ness from late (or no) pay­ment. In ad­di­tion to this, Prod­uct Li­a­bil­ity cov­ers you in the event that your prod­uct causes in­jury or dam­age to a per­son or their property, and you could be li­able to pay com­pen­sa­tion.” For de­tailed in­for­ma­tion on ex­port­ing and how best to pro­tect your busi­ness, look up ‘UK Ex­port Fi­nance’ on gov.uk. You can also con­tact your in­surer to dis­cuss your cover and which in­sur­ance prod­ucts are most suit­able for you.

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