Our Blog

Businesses are not buying or using insurance properly which puts them at risk. Learn the problems and how to fix them.

Does the age of technology, social media and comparison websites signal the end of the line for insurance brokers? Have Covid and social distancing put paid to the relationship, as consumers and businesses increasingly rely on online services and have come to expect near-instant delivery?

As lockdown restrictions are gradually lifted and things begin to return to “normal”, projects that have been on hold for many months become feasible. That smell in the air is optimism.

You’re in the pub with your mates having a few drinks, a laugh, discussing the terrible state of football refereeing, when, inevitably, the banter turns to professional indemnity (PI) insurance.

Most days the news media report on computer crime, whether it’s the latest email phishing scam or a major ransomware attack or a data breach. Sometimes the problem is weak security, such as unchanged default or easily guessable passwords. Sometimes humans are persuaded to reveal information allowing access to systems, or they’re tricked into clicking on a harmless-looking link.

What is a fleet? Like so many things in life, it depends on who you ask. Some insurers will regard 3 or more vehicles as a fleet, others say 9 or more. And if you think a fleet has to be an impressive row of the same or similar vehicles, à la Stagecoach or Eddie Stobart, think again. If your business has a car for general use, a van for trips to the cash & carry and a motorbike for deliveries, you’ve got a fleet.

We can be forgiven for occasionally falling for cyber-crime because it’s such a new thing, right? WRONG. In 1834 thieves stole financial information from the French Telegraph System, and, in various guises, it’s been going on since.

In 2012 about 1.8 million people were employed in UK logistics, with about 8% (144,000) self-employed. The online retail market was already described as “booming” pre-pandemic, suggesting the last 18 months may well be described as “nuclear”. For these reasons, it’s quite easy to become a courier. However, because there is high demand and the barriers to entry are very low, it is easy to be unprepared.

Underinsurance arises when sums insured or limits of indemnity under a policy are insufficient to cover the risk.