Category

Protecting your business category

Insurance Requirements for Selling into the US and Canada

When it comes to dealing with companies in the US or Canada, insurance requirements can differ considerably from those in the UK. This is particularly true in relation to insurance for public and products liability. If a company is selling goods or services into the US or Canada, they need to consider carefully their contractual obligations and possibly some specific insurance requirements.

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PSD2 Insurance – Is Your Professional Indemnity Insurance Compliant?

The European Banking Authority (EBA) has finalised guidance for financial technology (fintech) companies on the type of Professional Indemnity insurance that they will need to put in place to operate in the EU’s payment services market from this year. The guidance applies from 13th January 2018, the date on which PSD2 took effect in national legislation across EU member states. This guidance sets out the criteria on how to stipulate the minimum monetary amount of PII for two new services defined in PSD2: payment initiation services (PIS) and account information services (AIS).

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Vicarious Liability For Data Breaches – Prepare for Doomsday

Back in December 2017, WM Morrison Supermarkets Plc was found to be vicariously liable for a major data breach committed by one of its employees. The decision was appealed which was subsequently dismissed in October 2018. The Lord Justices’ comments in the appeal notice make for interesting reading, particularly from an insurance perspective!

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My Word is My Bond – A Performance Bond

The most common bond type is a Performance Bond. A Performance Bond provides the employer with between 10% and 20% of a contract value in the event of a contractor or supplier failing to perform to the agreed terms. Any company can use Performance Bonds but are more common in the construction or service industry sectors.

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Mind the GAP….Protect Your Vehicle

Ever bought a car from a dealership or finance company? If so, then you’ve probably heard of GAP Insurance. GAP insurance is designed to work alongside your motor insurance policy to protect you and/or your business from an expected shortfall.

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Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk