Archive May 2011

Management liability Insurance claims are more likely than fire claims!

19/05/2011 in Management Liability Insurance

I read some thought provoking facts about management liability insurance in this week’s copy of Insurance Times (http://www.insurancetimes.co.uk/issue.asp?navcode=575).

Andy Cullum, Axa Insurance head of management liability risks, stated “You wouldn’t dream of not being insured for a fire, but you are 10 times more likely to be sued by an employee”

The article went on to explain that 80% of larger companies purchase management liability cover, whilst only 20% of smaller companies do.

One of the main areas where insurers are seeing claims is for Employment Practice Liability (EPL).

For further information regarding management liability risks, contact Tony Gibbs on 0118 9452944 or complete one of our enquiry forms.

Insurance for barn conversions

19/05/2011 in High Value Homes

Insurance for barn conversions

If you have converted a barn into a private residence, or if you have just purchased a converted barn, it’s of utmost importance that your insurers know the full facts.

From an underwriters point of view they will want to know the age and construction of the property. If the building is Grade 1 or Grade 2 listed, the rebuilding cost is likely to be higher and this will have a bearing on the insurance. 

At Macbeth we have a number of bespoke solutions for insuring barn conversions or listed homes, including some insurers who will carry out a rebuilding valuation free of charge.

For more information, contact our Private Client Manager Carl Sharp on 0118 9452944 or complete one of our enquiry forms.

Skip Hire Insurance – How liability premiums are calculated

17/05/2011 in Recycling Insurance

When it comes to insuring the Public & Employers Liability risk for skip hire operators,  there are a number of ways that insurers calculate the premium.

For businesses with one or two skip lorries the most competitive way of rating is based on the number of vehicles. We typically see quotes in the region of £700 per vehicle based on £5,000,000 public liability and £10,000,000 employer’s liability.

For risks where there are 5 or more vehicles, we generally recommend policies that are calculated on a wage-roll and turnover basis.

Macbeth have access to a specific insurance scheme dedicated to the skip hire and waste industry, which caters for skip lorries in addition to the liability risks.

For further information please contact Tony Gibbs on 0118 9452944 or complete an enquiry form.

Personal service focus adds value to leading Relocation Group

17/05/2011 in Business, Case Study

Service to clients is a watchword for Business Moves Group (BMG) and has seen the company evolve into one of the UK’s largest dedicated office and commercial relocation companies with offices in Reading, Birmingham, Manchester, Glasgow and Leeds.

Not surprisingly BMG looks for similarly high standards in its suppliers’ credentials when it comes to sourcing their own business needs.

“We’d been with our previous insurance broker, a national firm, for some while, but we wanted to be true to our policy of using local businesses and work with a broker who placed the same emphasis on personal service as we do,” recalled Managing Director Rachel Houghton.

The choice of Reading-based Macbeth Chartered Insurance Brokers for all BMG’s commercial insurances – from public and employers liability to goods in transit and storage – was founded largely on the dedicated account management capabilities that the company had to offer.

“Macbeth saves us the administrative burden and time of having to manage any insurance-related issues ourselves,” added Rachel. “This has included working with our own sales team to develop the right processes and documents to use when offering goods in transit insurance to customers.

“This is a complex area and had historically proved to be something of a minefield.”

The Macbeth solution

• Personal service ethic complements BMG principles and processes
• Shared specialist insurance knowledge and expertise to add value to BMG sales propositions
• Prepared to go that extra mile on all insurance–related matters to free up valuable BMG management time.

Client verdict

“Macbeth’s efficiency is fantastic,” said Rachel Houghton. “They are always ready to pop round to sort out problems and have delivered in areas way beyond what one would normally expect from an insurance broker.

“This has even extended to dealing with all the correspondence and paperwork of a car accident I had before they became our insurers. It’s been a huge relief to leave it all to them.”