If you’re a broker dealing with commercial lines then you’ll be only too aware of the endless softening of rates recently. The recession and serious competition are eating into margins voraciously. Carriers are pushing hard to exploit both professional indemnity and the directors and officers space too. The latter (D & O) has seen softening…
There’s no doubt that global warming is real. There’s a bit of doubt as to how severe the effects will be or what they will be, but not that much. Insurance brokers probably aren’t to blame for global warming though. That’s the joy of working in a non-polluting industry, you simply can’t take the fall…
Recent research from the Insurer ACE suggests that 36% of UK Commercial organisations do not have cover in place in respect of losses resulting from acts of Terrorism. In addition and perhaps of more concern is that 13% believe that Terrorism and Political Violence are covered under their normal policies. This has lead me to…
A couple of weeks ago I wrote an article regarding Flood Insurance in the UK and the issues surrounding the Statement of Principles which will expire in June 2013 – see flood insurance. There is an growing concern that homes at risk from flooding will become uninsurable. This agreement between Insurers and the Government guarantees…
The provision to be able to provide policyholders with Flood Insurance is something that has become harder and harder for Brokers and Insurers in the last 10 years as we continue to battle with climate change and the seemingly variable effect that has on our weather. We are now recording almost monthly driest followed by…
When it comes to insuring business profits, there are many ways to do it via a whole catalogue of seemingly identical insurance policies all with very different names. You will most readily come across the following terms: Business Interruption Increased Cost of Working Consequential Loss Loss of Profits Loss of Income Loss of Revenue The exact definition of the…
In the UK some types of insurance are legally compulsory for everyone. Read on to learn more about what is required and what is not. When do I need Insurance? The purpose of taking out any insurance policy is to compensate you in the event of a loss so that you are in the same…
Well why not? It is the Diamond Jubilee after all; it doesn’t happen every year! 🙂 On Tuesday 5 June 2012, The Queen will travel from Westminster Hall, the Palace of Westminster and then of course onto Buckingham Palace for tea and biscuits (?) as part of The Diamond Jubilee official procession. We can expect…
