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Defaqto launches commercial insurance ratings

24th August 2009 Print
Independent financial research company Defaqto has expanded its Star Ratings offering to include commercial insurance ratings.

All office, retailers and tradesmen products in Defaqto's database, the largest of its kind in the UK, are rated from one to five stars based on product features and benefits.

The ratings for office products are based on 71 separate criteria. As well as the standard basis of cover provided for contents and buildings, such as specified perils or all risks, other criteria used include:

Business interruption cover or Increased cost of working cover
Computer cover
Maximum sums insured provided for computer records, books and documents
Works of Art.

There are 75 separate criteria used to rate the retailer products. As well as the standard bases of cover, the criteria include:

Money cover
Loss of licence cover
Contents seasonal increase
Legal expenses
Frozen food cover.

Some 48 criteria are used to rate the tradesmen products, including:

Public liability - standard and maximum indemnity limits
Contract works cover
Tools cover
Personal accident cover.

Mike Powell, Insight Analyst for Protection and General Insurance at Defaqto, said: "In a growing and competitive small and medium-sized enterprise (SME) market there needs to be more clarity and product differentiation, and Defaqto believes that these Star Ratings will help bring that about."

For more information, visit