Becks Insurance Brokers offers specialised Loss of Licence Insurance designed to protect businesses and individuals who rely on specific licences to operate. This policy is essential for establishments such as bars, restaurants, nightclubs, and other venues that depend on licences for alcohol sales, entertainment, or other regulated activities. Our bespoke cover ensures that your business remains protected against financial losses resulting from the suspension or revocation of necessary licences.

Safeguard Your Business with Loss of Licence Insurance

Loss of Licence Insurance provides critical protection for businesses facing the risk of losing their operational licences. This cover helps mitigate the financial impact and ensures that your business can continue to function or recover quickly in the event of a licence being suspended or revoked. With Becks Insurance Brokers, you benefit from expert advice and tailored insurance solutions designed to meet the unique needs of your business.

Features and Benefits

• Financial Compensation: Covers loss of income resulting from the suspension or revocation of your business licence.

• Legal Costs: Coverage for legal expenses incurred in appealing against the licence loss or seeking reinstatement.

• Business Interruption: Compensation for ongoing fixed costs and overheads during the period your licence is suspended.

• Employee Wages: Coverage for the payment of employee wages during the interruption period.

• Reinstatement Support: Assistance with costs related to obtaining a new licence or reinstating the existing one.

• Reputation Management: Support for managing the potential reputational damage associated with the loss of a licence.

What is Typically Covered?

Loss of Licence Insurance generally includes cover for:

• Loss of Income: Financial compensation for lost revenue due to the suspension or revocation of the licence.

• Legal Expenses: Costs associated with appealing the licence loss or defending against related claims.

• Business Interruption: Coverage for ongoing expenses, such as rent and utilities, during the licence suspension.

• Employee Wages: Financial support to cover employee wages while the business is unable to operate normally.

• Reinstatement Costs: Expenses related to obtaining a new licence or reinstating the suspended licence.

• Reputational Management: Support for public relations efforts to mitigate reputational damage.

Typical Exclusions:

• Losses resulting from criminal activity or intentional misconduct

• Licences not legally obtained or held

• Suspension or revocation due to changes in law or regulation

• Pre-existing conditions or known risks prior to policy inception

• War and terrorism (unless specifically included)

Please note that actual terms and conditions will vary from business to business and insurer to insurer. Full details of any cover will be explained in full by a Becks insurance broker.

Ensure your business is protected against the financial impact of losing a critical licence with Loss of Licence Insurance from Becks Insurance Brokers. Book an appointment with one of our expert brokers here or arrange a quotation by completing our online form here.