Insurance, risk management and loss control

This chapter outlines the types of insurances required by law, plus several optional covers that may be of interest to business owners. It also contains advice on implementing risk management procedures to prevent accidents.

Updates for 2023:

  • HSE information links updated.

  • References to BS OHSAS 18001 removed and replaced by ISO 45001 Occupational Health and Safety Management.


Download the insurance, risk management and loss control chapter of the Yearbook


  • General insurance regulation.

  • Taxation.

  • Insurance issues.

    • Name of insured.

    • Risk address.

    • Business description.

    • Business activities.

    • Duty of disclosure.

    • Warranties and special conditions.

    • Duty of care.

  • Compulsory insurances.

  • Vehicle insurance.

    • Cover abroad.

    • Driver changes.

    • Vehicle changes.

    • Motor insurance database.

    • Gap cover.

  • Employers’ liability insurance.

    • Reporting accidents.

  • Non-compulsory insurances.

    • Public liability insurance.

    • Goods-in transit insurance.

      • CMR cover.

      • Cover extensions.

      • Storage.

      • Deterioration of stock.

      • Risk improvement.

      • Driver instructions.

      • Depot and vehicle security.

      • Recruitment.

    • Property damage and theft insurance.
      • Basis of cover.

      • Inflation protection.

      • Average.

    • Business interruption cover.

    • Basis of cover.

      • Loss of gross profit.

      • Loss of full turnover or revenue.

      • Loss of net revenue.

      • Additional Increased Costs of Working (ICOW) cover.

      • Stand-alone Increased Costs of Working (ICOW) cover.

      • Material damage proviso.

      • Truck-related business interruption cover limitations.

      • Business interruption cover selection.

      • Maximum indemnity period.

      • Customer extensions.

  • Non-compulsory insurances – other covers.

    • Aviation hull and liability.

    • Bonds and guarantees.

    • Book debts.

    • Computer.

    • Construction risks.

    • Credit.

    • Directors’ and officers’ liability.

    • Engineering.

    • Fidelity guarantee.

    • Legal expenses.

    • Loss of licence.

    • Marine and stock throughput.

    • Medical expenses.

    • Patent protection.

    • Personal accident.

    • Professional indemnity.

    • Refrigeration breakdown.

    • Terrorism.

    • Travel.

  • Managing work-related road safety.

  • Fleet risk management.

  • The Corporate Manslaughter and Corporate Homicide Act 2007.

  • Dealing with staged accidents.

More information

A Guide to the Corporate Manslaughter and Corporate Homicide Act 2007


Download the insurance, risk management and loss control chapter of the Yearbook

Risk management

Summarising the legal obligations with respect to insurance, placed on employers and on the operators of motor vehicles. Also providing an outline of the range and variety of insurance covers available, including risk management and loss control. Looking at general and compulsory insurances required, other non-compulsory insurance. Risk management, this term may still mean little more than driver training and claims analysis. Whilst those can be helpful steps along the path of risk improvement, arguably such measures fail to fully recognise and address some key issues that can have a catastrophic impact on the wellbeing of not simply truck drivers but various key stakeholders including other road users – and insurers.