Archive August 2011

Insurance advice for students

20/08/2011 in High Value Homes

The large hike in university tuition fees coming into force in 2012 has meant an unprecedented number of students applying for places this year.

With all of the anxiety  and anticipation surrounding a move to a new university, having adequate insurance for students possessions can easily fall off the radar. Our advice to students would be to initially check to see if their parent’s policies extend to provide any cover before looking at purchasing separate insurance.

It is also worth bearing in mind that most policies that do extend to cover students possessions away from the main home are likely to exclude theft cover unless there are signs of forcible violent entry or exit, so we recommend that rooms are always locked when unattended.

There are some high net worth insurers who provide unrestricted theft cover for student possessions at colleges or universities however the premiums do tend to be more expensive.

For further information on the options available please contact Carl Sharp on 0118 945 2944 or complete one of our enquiry forms.

Deadline to report riot damage claims extended to 42 days

11/08/2011 in Business

It has just been announced in the House of Commons that the government is to extend the deadline for reporting riot  to police authorities to 42 days. This is good news for UK insurers and a clear  sign  that the authorities expect to pick up a substantial part of the bill from the days of unrest under the Riot (Damage) Act.

It should be noted that claims for business interruption are unlikely to fall within the remit of the Riot (Damage) Act.

If you need further help or advice regarding losses caused by these disgraceful events, contact our team on 0118 9452 944 or 0207 036 8767.

Macbeth is a leading and award winning Chartered Insurance Broker providing expert and professional advice to businesses and wealthy individuals throughout the UK.

Damage caused from the riots – advise your insurer quickly

10/08/2011 in Business

If your property or business has suffered damage during the riots this week the it is essential for you to report your loss to your insurer immediately. Under the Riot Damages Act 1886, insurers and uninsured individuals can recover their costs from the Police under circumstances that are deemed as a riot.

However, to do this, the local authority must be informed within 14 days of the incident. The Association of British Insurers have requested that this period be extended to 42 days but a review by the Home Secretary has yet to be confirmed.

If you need further help or advice regarding losses caused by these disgraceful events, contact our team on 0118 9452 944 or 0207 036 8767.

Macbeth is a leading and award winning Chartered Insurance Broker providing expert and professional advice to businesses and wealthy individuals throughout the UK.

Tottenham riots – Who will pay?

07/08/2011 in Business

The cost of last night’s rioting and looting in Tottenham is expected to run into millions of pounds and the disruption to the local community is likely to continue for many months ahead.

As for who is going to pay for the damage, in all likelihood it will be insurers who will pick up the tab and the end result could be higher insurance premiums for the already beleaguered business community.

Insurers may argue that the Police were not quick enough to act and we could see claims from insurers against the Police under the Riot (Damage) Act 1886 which allows companies and individuals to sue the police over damage caused during civil disturbances.

In 2009 Judges ruled that Bedfordshire Police Authority could be sued for £42 million damages, following the disturbance that destroyed the Yarl’s Wood Immigration Detention Centre in 2002.

What is Airside liability Insurance?

01/08/2011 in Public Liability Insurance

“Airside” generally refers to an area on an airport that has restricted access. This will be the aprons, taxiways and runways as well as the area past the security gates in terminal buildings.

Most standard public liability policies will contain an exclusion relating to high risk locations, airport and aerodromes are on the list of excluded premises. Some insurers may consider providing liability cover at airports for an additional premium but they are unlikely to provide an indemnity limit of more than £5 million.

As companies or individuals that are working airside will inevitably require a higher level of public liability cover, airside liability insurance can be arranged as a separate policy, either to top up an existing insurance, or to provide the primary cover. It is not uncommon to see indemnity limits in excess of £50 million.

For more information regarding airside liability insurance, contact Tony Gibbs on 0118 9452944 or complete one of our enquiry forms.