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Cyber Protection……What can you do to protect your business from becoming a cybercrime statistic??

Many small businesses think that they are too small to be of interest to cyber-attackers, so it’s believed that physical security can be more relaxed, this could not be further from the truth. There are people in this big bad world that will go into small businesses rubbish bins to locate financial, personal, business and customer information. In addition to this, if a small business allows their staff access to their company internet without having a strong and effective security policy, an employee may unknowingly allow the penetration of hackers, trojans, viruses, and phishing programs. Cyber...View Full Post

Telemetrics – The way forward for lower fleet insurance premiums

Companies that are willing to invest in good fleet management could reap the rewards of lower long term fleet insurance premiums. Telemetric systems act in a similar way to the “black boxes” that are fitted to commercial aircraft. The system records the location, speed and braking performance of a vehicle, which is very useful information if the vehicle is involved in an accident. More sophisticated systems are linked to recorded video. Although telemetric systems have been around for a few years now, the cost of the technology has been rapidly coming down in price with a basic system costing...View Full Post

How many vehicles are required for a fleet insurance?

We are often asked the question “how many vehicles do I need to start a fleet insurance policy?” Not so long ago the answer to that question would have been 5 vehicles. However, over the past 18 months there has been a change and there is now a small selection of insurers that will start a fleet insurance policy with as few as 2 vehicles. Fleet policies tend to work well if the number of vehicles is likely to increase as new vehicles automatically enjoy the fleet discount that applies to the policy. When starting a fleet policy, most insurers can take into consideration no claims bonus that...View Full Post

Why Do Technology Businesses Require Professional Indemnity Insurance?

Information technology is the backbone of many businesses yet is poorly understood by many. There’s often an enormous mismatch between client and professional expectation, probably unique to the information technology industry as regards professional indemnity claims. IT risks used to be treated as “Miscellaneous” but, as the industry has emerged into one of worldwide importance, so the understanding of the legal profession (and thus insurers) has led to a specific focus on IT in its own right. Below are some professional indemnity claims that technology companies have faced: • The insured...View Full Post

Right to Manage (RTM) need to have the best property owners cover available

Insurance for perils such as fire, theft, loss or damage has always been about having that peace of mind that, if an unfortunate event happens, the policyholder is put back in the same position before the loss occurred. Over the years insurance has evolved to meet the changing needs of the policyholders with wider covers now available. So are any two insurance policies from different insurers exactly alike? The answer to the question is no, although the basis insured perils are likely to be the same, there will be subtle differences that could mean the difference between a claim being paid or...View Full Post

Games Developers Insurance…….covered not covered, need a power up or an extra life??

Being at the forefront of fun, interactive innovation leaves games developers particularly exposed to new areas of risk. For instance, often games developers contracts have ‘milestones’ within them and disputes as to whether these milestones have been met can trigger a breach of contract. Therefore risks that games developers should consider insuring against include: – Breach of a written contract – Infringement of someone else’s intellectual property rights – Legal action taken against you worldwide, including USA Any of these areas can be potentially disastrous to a games developer...View Full Post

Offshore liability

Over the last few years it has been common practice for offshore contactors to set up limited liability companies. In the majority these are one man band operations where the owner is the sole employee. Oil companies will typically be looking for these companies to carry public liability, employer’s liability and in some cases professional indemnity insurance. We are often asked the question “Is employers’ liability really necessary?” The situation is that if the providing these companies have just one director and no other direct employees or sub-contractors there is no legal requirement...View Full Post

The hosepipe ban, if’s and butts

The particularly mild weather and lack of rain has culminated in the introduction of the hose pipe ban for most parts of the country starting from 5th April 2012. Although the water ban will initially not affect businesses, this stance could change during the summer if there is not significant increase in the amount of rain fall. Over the last month there has been a dramatic increase in the sale of water butts as householders and businesses’ look for efficient ways to converse water. Although water butts are a great means of saving water, there use can lead to security issues as thieves can use...View Full Post

Directors’ and Officers’ Liability Insurance……..Simply Explained

As a director your responsibilities come from a series of statutory, financial and common law duties to ensure that you act in the company’s best interest. If it is alleged that you are negligent in your capacity as director, you may be held personally liable and your personal wealth could be at risk. You may believe that you can rely on your company to indemnify you but this is not always the case, either because it is against the law or bye-laws of the company or financially they are unable to do so. Directors’ & Officers’ Liability Insurance protects a companies’ directors, officers...View Full Post

Vicarious Liability and the Recruitment Industry

Increasingly, recruitment agencies are signing up to hiring clients’ terms of business, and more agencies have contracts of employment with temporary workers than ever before, particularly as a consequence of the agency workers regulations which came into effect on 1st October 2011. This increases the likelihood of recruitment agencies being deemed the employer of the temporary workers, and as such, increases their exposure to vicarious liability. One example: A recruitment agency supplied a construction project manager to a London local authority, who over the course of two years was accused...View Full Post
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