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Indemnity Periods and Underinsurance

Business Interruption insurance policies are designed to return companies to the trading position they were in before a loss. It is one of the most important covers for any business. After all there seems little point in rebuilding, re-equipping and restocking a factory if the customer base disappears during the period of inactivity, following damage caused by an insured peril.

Mind that Red X

The AA has expressed safety concerns about the removal of the hard shoulder from hundreds of miles of so-called smart motorways. Drivers and Fleet Managers should ensure that they are familiar with the rules that apply to these new highways.

We've got your back!

The Financial Press likes a headline about insurance companies turning down a claim:
“Home Insurance that’s not worth the paper it’s written on”
Daily Mail 24th September 2019

Whilst any claim presented that falls outside of the cover provided by the policy understandably creates an unhappy client, it is worth reminding policy holders of the positive contribution made by the UK insurance profession.

Cyber Liability - The Supplier Risk

A Cyber Security Breaches Survey, undertaken in support with the government's National Cyber Security Programme, reveals that whilst following the introduction of GDPR many businesses are demonstrating more robust protection around customer data, trade secrets and intellectual property most are ignoring the cyber security risk presented by their third-party suppliers.

Current insurance issues for electric vehicles

Rapid improvement in alternative technologies and incentives offered by the UK Government, to help meet their pledge to reduce emissions by at least 80% of 1990 levels by 2050, under the Climate Change Act, have led an increasing number of drivers to consider switching to electric vehicles (EVs).

Phishing targeting executives now the number one cause of cyber security insurance claims

According to one leading Cyber Liability Insurer, AIG, business email compromise (BEC), commonly referred to as phishing, has overtaken ransomware as the number one cause of cyber security insurance claims.

Firework season arrives with a bang!

Diwali celebrations during October mark the arrival of the annual fireworks season quickly followed by Halloween, Bonfire Night and Christmas. Firework season is a time for celebration and should always be enjoyed, but whilst injury is a primary concern during this period, the potential for damage to property and business operations, as a consequence of fireworks is a serious concern.

Brexit Green Card update URGENT ACTION REQUIRED

Following a Summer of political turmoil, it remains a possibility that the United Kingdom (UK) will leave the European Union (EU) on the 31st October 2019 without a transition agreement in place.

Insurance Industry Response to Revised Ogden Discount Rate

Following the Lord Chancellor’s announcement in July that the Ogden Discount Rate, applicable to the United Kingdom excluding Scotland, will only marginally increase from minus 0.75% to minus 0.25%, with effect from 5 August 2019, Insurers have now crunched the numbers to reveal how this will affect future Motor and Liability Insurance limits of indemnity considerations.

Updated HMRC Guidance on Spotting Scammers

HM Revenue & Customs (HMRC) has updated guidance and published a list of examples of websites, emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudsters to obtain corporate and personal information.

Fire Alarm Response

Individual fire authorities are responsible for creating appropriate strategies for their own area. With limited resources and many calls on those resources fire authorities have to make difficult decisions about how they allocate those resources. Sometimes those decisions can be controversial and fire alarm response is sometimes a sensitive area.

Online Reputation Security

For centuries Insurance has helped protect businesses and organisations from loss, or damage, to assets, income and liabilities. However, one priceless asset, that of a hard won reputation has never been so exposed and so difficult to protect as it is right now.

Cash for crash tactics and how to reduce your exposure

According to the Insurance Fraud Bureau, a company established to fight against insurance fraud, 'Crash for Cash' scams, where fraudsters deliberately manufacture collisions with innocent road users to profit from fraudulent insurance claims, are costing around £340m a year. This, of course, puts innocent motorists in danger and feeds into insurance premiums, leaving honest motorists and fleet managers to pick up the tab.

Discriminating cover for businesses

News that pub chain Greene King were called upon to defend their approach to disability discrimination, when staff refused to serve a customer who was suffering from Multiple Sclerosis, illustrates how companies can find themselves defending discrimination claims.

HSE raises Fee For Intervention rates

In October 2012 The Health and Safety Executive (HSE) introduced Fees For Intervention (FFI) which authorised the HSE to charge organisations for the costs involved in investigating, issuing notices and assisting in correcting material breaches of health and safety regulations.


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