Archive December 2010

7 Tips for businesses over winter

22/12/2010 in Business, Business Combined

Here is some practical advice for businesses over the winter period.

1.     Identify the location of stop cocks/valves inside the premises as well as the main incoming valve in the street. Be sure to advise staff of their location.

2.     Avoid storing computer and electronic equipment on the floor.

3.     Ensure stock and packaging materials are a minimum of 150mm off the floor in racking or on pallets.

4.     Ensure heating systems are given regular maintenance checks and frost stats are operational.

5.     Review and update emergency contact lists.

6.     Retain insurance company/intermediary details and ensure emergency contact staff have copies.

7.     If the business is going to be closed for extended periods of time organise regular inspections during severe weather.

For further information about business insurance or business continuity planning, contact Tony Gibbs on 0118 9452944 or complete one of our enquiry forms.

Crucial Insurance for Letting Agents

22/12/2010 in Professional Indemnity Insurance

Professional Indemnity insurers are envisaging a substantial increase in claims being made against Lettings Agents directly by tenants or indirectly by Landlords.  They expect to see a further increase in claims because on 1 October 2010, the rental income threshold was increased from £25,000 to £100,000 per annum thereby catching a significantly larger number of tenancies which are now required to comply with the provisions of the Housing Act 2004 and an authorised Tenancy Deposit Scheme.

Failure to secure a deposit with a recognised scheme for a tenancy with a rental value of up to £100,000 per annum will result in a significant penalty (tens of thousands of pounds) being awarded against the Landlord of the Agent.  The tenant is also likely to be awarded legal costs.

For further information about professional indemnity cover for letting agents contact Tony Gibbs on 0118 9452944 or complete one of our quick enquiry forms

Huf House Insurance

15/12/2010 in High Value Homes

Since they first arrived in the UK from Germany in 1997 the Huf Haus has grown in popularity and demand. The innovative timber frame is very environmental friendly and the houses are extremely energy efficient. With lots of glass, open space and straight lines, the Huf is also very aesthetically pleasing.

Huf’s are constructed to a very high standard and as a result can be expensive to rebuild. From an insurance point of view I would certainly recommend an insurer who can cater for higher value homes and preferably an insurer who is prepared to carry out a rebuilding valuation of the property. When we were asked to arrange insurance for our first Huf Haus we were surprised by the number of insurers who could not cater for such a risk.

For further information on insuring Huf’s contact me Carl Sharp, Private Client Manager on 0118 9452944, or complete one of our enquiry forms.

Breaking Insurance News

10/12/2010 in Business Combined

Reports coming in from the North Pole have indicated that the theft of toys from one of the World’s largest distributors outside of China could run into billions of pounds.

The thieves gained entry to the warehouse via a back window that had been left open by a careless employee.  Mr Scroooge, a spokesman for the insurers North Pole Direct said that the massive loss is unlikely to be covered as the minimum level of security was not met.

The devastated owner of the business, Mr Christmas, is dumfounded by the insurer’s attitude. He commented “The insurers have said that they are not paying my claim as the window was open and I was not at the warehouse. They said that I should have read my policy in full and paid particular attention to the Santa Claus”

For larger risks Macbeth arrange commercial insurance policies that are completely free of warranties, meaning that you can get on running your business with compete peace of mind.

For more information, contact Tony Gibbs, Sales Director on 0118 9452944 or submit an enquiry form.