Is Your Commercial Insurance Up To Date?

Change is constant—that is the nature of business. But do not get carried away by your ever-changing and growing business without considering the gaps in cover that can occur. Innovation and growth are inextricably tied up with risk, so you should continually make sure your policies grow with your business and cover any new risks that pop up.

This applies to businesses both large and small. Smaller businesses typically sacrifice cover in order to remain financially lean. Without adequate cover, smaller businesses are not poised for growth and could stall or prevent expansion. The global economy pressures bigger businesses to export, which opens up a slew of regulatory and legal risks. Penetrating other markets is inherently hazardous. Globalisation also tends to lengthen supply chains, leading to business interruption risks due to more suppliers located farther and farther away.
Smaller businesses that lack a full-time risk manager need to carefully monitor growth in combination with their existing cover. Consider key person insurance to minimise business disruption and help ensure growth if one of your essential personnel cannot work, and business interruption insurance to stabilise your supply chain. (more…)

Are You Guilty Of Fronting?

According to recent research, more than two million UK drivers are guilty of fronting, a type of insurance fraud in which motorists try to hide who is actually the main driver of a car. However, fronting is not some inconsequential fib—it has serious consequences.
Fronting is an attempt to cut car insurance costs for a vehicle’s real main driver. The biggest culprits are parents trying to slash their children’s insurance premiums. By claiming to be the main driver rather than their children, parents secure a lower insurance rate for their children, helping to offset the disproportionately high costs of cover for young people. (more…)

10 Ways To Make Your Home More Secure

  1. Lock up. Many burglaries are opportunistic. So keep doors and windows locked when you’re asleep or out – even if you’re just popping next door for a few minutes.
  2. Keep your keys safe.Store keys out of sight – and don’t hide a spare key outside, particularly somewhere obvious such as under the doormat or in a plant pot by the back door.
  3. Watch out for prying eyes.Keep valuables away from windows and out of sight and discreetly dispose of boxes containing new items such as TVs and computers.
  4. Install an alarm.Today’s burglar alarms range from motion-triggered systems to ones that transmit a CCTV image of the intruder to a computer or mobile phone. Choose one that is insurer-approved so you can get a discount on your home insurance.
  5. Going away? Be discreet.Don’t advertise the fact that your home will be empty on social media sites. And ask a friend or neighbour to park on the driveway to deter potential thieves.
  6. Light up.Timer switches that turn your lights on and off give the impression you’re home are highly effective.
  7. Secure your shed.Outbuildings such as sheds and garages are often home to lots of valuable gardening and DIY equipment – some of which can be used by burglars to break into your home. So make sure they are locked at all times.
  8. Illuminate your home.Security lights that come on as anyone approaches your property are a deterrent for anyone who is up to no good. They can also help you feel safer when you get home after dark.
  9. Log it.Taking photos of your valuables makes it easier to claim on your insurance, while security marking them with your postcode and house number can both make thieves think twice and help the police to recover them if they are stolen.
  10. Get covered.Make sure your insurance is up to date and offers enough protection to cover all your belongings.


Cyber-Crime – Do You Really Think You’re At Risk?

  • 2 in 5 businesses don’t believe they are at risk and more than a third of businesses would not know what to do if they became the victim of a cyber crime
  • More than a third of business owners said they had been the victim of cyber-crimes like hacking,  phishing and pharming
  • For those who suffered a cyber-crime 75% said it cost up to £1,000 to put things right

Research from Aviva, the UK’s largest commercial insurer, shows more than 2 in 5 (44%) businesses believe they are unlikely to be a target for cyber-crime, with almost a quarter (23%) admitting that whilst they are worried they are not sure what to do to protect themselves and 8% haven’t thought about the risk at all.

In fact, just a quarter of businesses (24%) are taking steps to protect themselves from being the victim of a cyber-attack despite the Office for National Statistics revealing that there were 2.5million incidents of cyber-crime just between May and August of this year. (more…)

Using Your Mobile Whilst Driving

General Procedures

  • Use of mobile phones while driving is strictly prohibited – this includes all functions of the mobile phone including, but not limited to, phone calls, text messaging/SMS, email, MMS, Internet use, camera use, etc.
  • Use of electronic devices – including laptops, PDAs, cameras and pagers – while driving is strictly prohibited unless specifically outlined below
  • Voice-mail must handle all calls while driving, and calls may only be returned when stopped or pulled off the road
  • Passengers making or taking calls for the driver is permissible provided the interaction does not affect the driver’s performance
  • Regular callers must be informed that you will not be available while driving and should be notified of the best times to call based on driving schedule
  • Employees who receive calls from co-workers who are driving are obligated to ask that the co-worker call back at a more appropriate time


Building Your Own Home

Finding the right home can be a difficult, discouraging experience. Prospective homeowners can have long lists of criteria for their ideal home, such as a specific location or certain amenities. The difficulty of finding a home that ticks every box can push some buyers to build their ideal home instead, either with the assistance of a contractor or by themselves.

Regardless of which option you choose, there are inherent risks involved with the project—risks which you need to be adequately covered for. The only sure way to protect your sizeable investment and new, bespoke home is with self-build insurance.

Common Covers You Need

Whether you are constructing your home yourself or enlisting the assistance of a contractor, protect your new home with a self-build policy. The standard self-build policy typically includes the following covers: (more…)

Valentine’s Day And Insurance: A True Love Story

We’ve now entered the shortest month of the year, but you can still do a lot about your insurance. With the winter chill settled in and Valentine’s Day around the corner, you may need to consider changing parts of your insurance policies to keep up with your life.

Whether you need to repair your roof after the recent storms or you are about to get married, your insurance could be affected. Just remember that the right insurance will help protect you, no matter the time of year. Here are some moves to make in February.

Insuring the knot

February brings to mind engagement rings. In the middle of exciting life changes, step back and remember the practical aspects involved. Potential Romeos purchasing a ring before popping the question this Valentine’s Day have been urged to check if it will be covered by their existing home contents insurance.
With Britons spending an average of £1,600 on an engagement ring, many people may be tempted to take out specialist insurance offered at the time of purchase. (more…)

Celebrities And Their Bizarre Body Parts

Have you ever wondered what some of your favourite celebrities body parts are worth? Probably not, however I’m sure that as you’ve started to read this, you now want to know!

We start off by talking about one of the most popular stars in today’s world, none other than Taylor Swift. She made headlines, early last year as she wanted to insure her perfect pins to the tune of $40 million. However, she’s not the only one who’s concerned about what might happen to her legs, Mariah Carey went one up on Swifty by putting a $1 billion price tag on her assets. (more…)

Small Businesses Can Be Hit The Hardest With Cyber Hacking

Recent research carried out among 30 SMEs (Small and Medium Enterprises) indicated 76% were concerned about cyber-security, while 17% had actually experienced a cyber-attack.

More than one in five reported at least one incident of someone in their company being disciplined or dismissed for breach of its social media policy, while more than half said they either limited or banned personal access to social media during work hours.

New legislation means compensation can be sought by injured parties for emotional distress caused by the loss of data, even if the hacking didn’t result in a financial loss.

The most commonly discussed financial cost relating to a cyber-attack and loss of data is the potential fine from the Information Office Commissioner. But, while this should not be ignored, the real financial issues for many SMEs lie elsewhere, as the loss of the client’s relationship and details about products and services lost could cause far greater emotional stress. Therefore, if an SME is hacked or loses client data, the claim for emotional distress could be far higher. (more…)