Author: Admin


Why every business needs cyber insurance
October 28, 2020

Why every business needs cyber insurance

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With millions of employees working from home, the risk of cyber breaches is higher than ever. The reason why working from home increases risk of cyber attacks is due to: Weak network security – Multiple entry points for each business network – Family members on WIFI – and more. 60% of SMEs that suffer a…

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Why does transaction liability exist?
October 21, 2020

Why does transaction liability exist?

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In M&A deals. the seller typically holds liabilities should the deal fall through. If issues do occur then the seller will likely be financially responsible for any liabilities. The risk can be diminished by taking out transaction liability insurance which will reimburse the policyholder should any loses occur. By transferring risk over to an insurer…

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Recession proof your business by creating your own banking facilities
October 14, 2020

Recession proof your business by creating your own banking facilities

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No one can be in any doubt about the devastating effect the pandemic has had on businesses – both large and small, and across all sectors. While more people have headed back to work in non-essential areas and pubs, restaurants and hairdressers are about to re-open, the alert level has only just been reduced from…

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The growing threat of heat stress
October 7, 2020

The growing threat of heat stress

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Millions across the globe could be at risk of heat stress which may cause fatigue, drowsiness or in extreme circumstances kidney failure. The effect of global warming may have significant effects on humans and more many it may become ‘too hot to work’. This has been greatly enhanced by Covid-19 and the effect of PPE.…

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A changing Professional Indemnity market needn’t mean problems
September 30, 2020

A changing Professional Indemnity market needn’t mean problems

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Many contractors are now asking their subcontractors to have Professional Indemnity insurance in place to secure contracts. But what is it and what do you need to consider? Professional Indemnity (PI) insurance provides: 1. Source cover from a reliable, long-term insurer – with the PI market open to transitioning from a soft market to hard…

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Organised crime gang members sentenced for stolen vehicle export scam
September 23, 2020

Organised crime gang members sentenced for stolen vehicle export scam

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Six men have been sentenced to a total of 20 years for their part in supplying and exporting stolen vehicles to Northern Cyprus. The City of London Police, who led the investigation, identified in excess of 120 stolen vehicles linked to the organised crime group, with losses to industry of around £5 million. The men…

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The recent COVID -19 High Court ruling
September 22, 2020

The recent COVID -19 High Court ruling

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The recent COVID -19 High Court ruling. This provides some clarity for customers’ business interruption claims caused by COVID-19 pandemic. The Background Following interruption to businesses due to the pandemic, insurers were showing inconsistency in dealing with claims. Many business interruption covers only provided property damage cover. However, some policies had infectious disease extensions or…

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Why construction should embrace technological advances
September 16, 2020

Why construction should embrace technological advances

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Construction is one industry that has been slow in embracing the considerable technological advances that the past decade has seen. Advancements have allowed for sites to be safer and more efficient. Technology also diminishes risk in many ways and as the country eases itself out of lockdown, technology extremely valuable. Many companies are increasingly turning…

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Why app-based systems are essential for motor fleet policies
September 9, 2020

Why app-based systems are essential for motor fleet policies

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Technological advances for motor fleet policies span far beyond telematics and driver assistance systems. New ways of connecting drivers to insurers directly allows for comprehensive gathering of data that can help claims. Cloud-based technologies, such as the Ascend Claims App, allows policy holders to upload pictures and files immediately so that insurers can access them.…

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Cyber insurance is set to become vital after Covid-19
September 2, 2020

Cyber insurance is set to become vital after Covid-19

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Although most businesses have always seen cyber insurance as a necessity, many will now realise its utmost importance in keeping them protected. The risk of cyber attacks has grown exponentially due to many working from home, leaving small businesses vulnerable to attack. Since 2015 there has been a 300% increase in small and medium size…

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