Weather Report
We have been suffered some of the worst UK weather conditions ever experienced, with temperatures in parts reaching as low as minus 23 degrees. With a spate of burst pipe claims to be expected we believe it would be useful to pass on some advice to pass about how to cope with any resulting damage.
Dealing with Burst Pipes
Burst pipes are classed as water emergencies and they can cause serious damage to a home’s orbusiness premise’s structure and electrical wiring. Upon discovering a burst pipe the following remedial steps are recommended.
1. Turn off the water supply
- Turn off the main stop tap (stop cock). This is normally situated under the kitchen sink or where the service pipe enters your home.
- Drain the system – turn on your cold kitchen tap. This should run momentarily and then stop. Has the burst subsided?
- If water has been leaking through for sometime and the ceilings are bulging – be careful, rooms may not be safe to enter.
- If you notice the leak quickly you can catch dripping water in buckets. Make a hole in the ceiling to let water out if it starts to bulge.
| 3. Turn off the electrics
- Switch off the central heating, immersion heater and any other water heating systems.
- If the central heating uses solid fuel, let this die out.
- Once water heating has shut down, turn on the hot taps to help drain the system.
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2. Turn off the water heating systems
- Switch off the central heating, immersion heater and any other water heating systems.
- If the central heating uses solid fuel, let this die out.
- Once water heating has shut down, turn on the hot taps to help drain the system.
| 4. Call a professional to repair the damage
A professional must be called in if electrical wiring becomes damaged by water. |
19 January 2010
A FRIENDLY REMINDER - HELP US TO HELP YOU
Brokers exist to help their clients but to give the very best service, we need help from our clients too.
Something unexpected - a bad debt, floods, one of a dozen perils or a major lawsuit - could damage or even destroy your business.
Sadly when the general economy is struggling, businesses are even more at risk from legal action and claims.
To help you, your broker must be made aware as soon as possible of all relevant changes in your business in order to avoid last-minute panics.
The prompt provision of key information should ensure that no final decisions need to be taken before you fully understand their likely impact on risks and insurance premiums.
In any of the following cases, one quick call to a broker could save money and prevent expensive mistakes.
- Buying a business
The broker should be involved in the due diligence process. A detailed examination of the business is all the more important at a time of rising premiums. There may also be undisclosed liabilities or particular areas of business that will prove hard to cover at a reasonable price. - Selling a business
The impact of disposing of a business on your existing insurance programme could be unexpected and extreme. Cover may be necessary to protect against late-reported claims. Sometimes 'hold harmless' agreements - indemnities or warranties against unforeseen past losses that suddenly surface - may leave liabilities which call for extra insurance. - Buying and building new premises, moving or extending existing premises.
Sometimes these will be unsuitable for the use you intend. Insurers may ask for costly improvements, such as fire doors and security equipment, and architects may not fully appreciate what’ the insurers require. Small changes to the plans in advance could substantially reduce premiums. - New contracts and developments
Any new contracts could affect your insurance programme by introducing new risks that require cover and management. Wherever possible, these should be assessed by a broker before any documents are signed. - Entering new markets and launching new products
Insuring exports to some countries can prove expensive, and the supply of goods or services to particular sectors may bring insurance problems. New products or service may also have a fundamental impact on your insurance arrangements. The broker should be involved in the evaluation process. - Police withdrawing support
The police sometimes withdraw support for monitoring alarm calls. It is vital that you inform your broker immediately as cover is unlikely to operate. - Taking on major new suppliers and customers
New contracts may impose extra liabilities as well as adding to the risks your business must consider. - New plant and equipment
Existing insurance may be inadequate and special cover could be necessary. A new process could mean an increase in premiums or breach a condition in your current policy. - New drivers or cars
Employing a young driver or purchasing an expensive or valuable vehicle could affect your motor fleet insurance. It’s wise to discuss changes in recruitment and vehicle policies in advance.
Help us to do an even better job. Keep us informed.
Call Stephen Hegarty at BJP Insurance Brokers for better cover at lower prices and to discuss all your insurance needs on 0118 979 2121.
15 December 2009 A Cautionary Tale - Working at Height
Each year 50-60 workers are killed as a result of a fall from height and around 4,000 workers suffer serious injury. This is the biggest cause of death and the second largest cause of serious injury at work.
It accounts for a large proportion of the cost of employers liability claims especially in construction related activities The scale of the problem has prompted an EU directive on a common standard of safety rules throughout the Union.
They bring together all the past regulations into one set and adopt a risk- based approach to working at height. The regulations take a three-pronged approach.
1. If you can avoid the need to work at height then do so.
2. Where you cannot avoid working at heights, you must take steps to prevent falls by selecting the most appropriate equipment taking into account the duration of the work and the environment.
3 If any risks remain, steps should be taken to mitigate the effect by using arrest devices etc.
The rules seem very sensible and the guidance notes at least bring together all the existing regulations into one place.
There are some extensions to the rules but these seem practical and proportionate. It is very important that risk assessments are carried out and that no work is carried out unless the planning, supervision and organization is done by someone with the suitable practical and theoretical knowledge, training and experience.
Most trades, who are regularly involved in working at heights, already attempt to comply with the rules.
The real challenge is for businesses that only occasionally do e.g. offices, retailers, wholesalers, entertainment, agriculture etc. These should keep a copy of the rules always to hand and issue strict instructions to staff as to what they can and cannot do.
As brokers, we can arrange for the inspection of all equipment as required by the regulations and also arrange for overall advice as to how to comply.
Also a useful site for occasional users is www.hspi.infoexchange.com. This is a government-sponsored site, which enables you to carry out a self-audit and benchmark yourself against others in your sector.
Call Stephen Hegarty at BJP Insurance Brokers for a free review of all your insurances on 0118 979 2121.
15 December 2009
Small Motor Traders Offering from Aviva
Aviva have expanded their motor traders’ product offerings and is now insuring part-time businesses, as well as businesses operating from home.
The new offering has been designed specifically for traders who have up to six named drivers and allows them to select Road Risks only and then add other covers as and when required.
Barry Hogg, Aviva's motor trade underwriting manager, said: "By listening to our staff, brokers and customers, we have developed and expanded our product offering, so that we can now provide a broader customer base with even greater cover options. We recognise that many small businesses simply want the essential covers to start with, or may have some cover arranged elsewhere”
Mr Hogg added: "While many motor traders have struggled to survive the effects of the recession, we recognised the need, particularly for the smaller motor trade businesses, to offer even more choice. In times like this flexibility is crucial as customers seek affordable solutions to their insurance needs”
Aviva has estimated there are approximately 75,000 small motor trade enterprises in the UK and that the new offering would broaden its market coverage and therefore appeal to an even greater proportion of the sector. - 07 November 2009
Environmental Issues Move Up the Agenda
Environmental pollution is a hot issue and most businesses have to take great care in not polluting the neighbourhood or the atmosphere.
Seepage of oil from tanks, the growing practice of building on brown field sites, polluting rivers and streams from escape of effluent and disposal of waste are all issues that businesses have to face with growing vigilance but the insurance position is not straightforward.
Pollution can:
- Be sudden and unforeseen resulting from an identifiable event or accident.
- Be gradual and happen over a period of time.
- Affect neighbouring property. Affect a business’s own land.
- Already exist in property or buildings purchased.
- Be active - i.e. causing damage now.
- Be passive, but likely to result in damage later.
Liability under the law has been extended so that someone has to pay not only for any damage caused by pollution but also the clean up costs for active or passive pollution. This may be irrespective of who is to blame. The polluter must pay and current owners of property may well find that they have a liability for pre existing contamination even though they did not cause it. Land that is contaminated or businesses with a risk of liability for pollution are difficult to sell and there is the spectre of more draconian legislation in 2007 as a result of a EU directive.
Public liability policies are likely to cover businesses against sudden and unforeseen pollution traced to a specific event caused by negligence. It will also probably cover liability for cleaning up the pollution on third party land. It does not cover gradual pollution such as seepage nor does it cover clean up costs on business’s own property.
To provide full protection, a special cover called environmental impairment liability cover is required. This is only available from a few insurers and normally requires an in-depth survey of the inherent risks and how these are managed. Any property owner or business needs to consider if this wider cover is appropriate for them.
We are happy to provide any advice if required.
Specialist Insurance Advice from an Award Winning Insurance Broker Award winning Berkshire based construction specialist, BJP Insurance Brokers Ltd, have experience in finding cost-effective solutions for the construction sector.
In the current economic climate, lenders remain cautious and sometimes decisions need to be made quickly and supported by the right professional advice. As well as that, there are some unusual requests. A recent example of this is where a prestigious property owner with a large commercial property was having difficulty finding latent defects insurance (usually a ten-year insurance backed structural warranty). The problem was that the property had already been fully completed before placing any sort of structural warranty – the property therefore could not be handed over. On top of this, the property developer, who usually places this type of structural warranty, had gone into liquidation.
This ‘non-standard’ type of cover can be hard to source, let alone put in place, in a short time. Appreciating the urgency, BJP were able to have specialist cover placed within 48 hours.
Another example saw another new-build development having to be acquired due to the liquidation of a property developer. Subsequently, no structural warranty was in place. Again cover was sourced and placed, this time within 24 hours and the final handover to the new owners was completed.
In summary, BJP can solve your immediate insurance needs, keep your premiums down and ensure you have the cover you need, when you need it.
Our advice? Speak to a specialist!
AXA Wins 10 Year SME Partnership with HSBC
From the 1st of January 2010 Axa Insurance will be offering HSBC’s new and existing SME customers insurance policies as part of a 10 year deal.
Anthony Middle, managing director of Axa commercial said: “We are confident that our broad product portfolio, innovative solutions and value-added offerings provide a market-leading small business proposition.
"Axa is already a leading player in this market, providing insurance to around 25% of the SME community. It’s great to develop our relationship with a company with the same strong brand and inherent values that are part of our success”.
AXA and HSBC already have a number of partnerships worldwide and in the UK, AXA provides both travel and home insurance products for Marks & Spencer, part of the HSBC Money portfolio.
Robert Lang, HSBC European head of insurance said: “We are focused on ensuring that our business and commercial banking customers continue to benefit from high quality insurance solutions.
"Axa is a market leader in the provision of business insurance to SME customers and we will work together to ensure that our UK customers benefit from their expertise”.
The insurer has recently secured another important partnership, this time with low cost airline, Ryanair.
BJP Win Professional Broking Award
BJP Have won the Professional Broking Magazines Commercial Lines Initative Award. BJP Insurance Brokers have been picked from a nationwide panel of brokers for our initative in Commercial Lines. At last our hard work and customer focus has been rewarded! If you would like to feel the benefit of the best brokers in the UK please get in contact now. - 01 Oct 2009
One In Five Young Drivers Uninsured
The Motor Insurers' Bureau has revealed that as many as 250,000 young people between the ages of 17 and 20 are driving without insurance. That’s one in five. Their research has also shown that one in ten young drivers aren’t even aware that motor insurance is a legal requirement.
Ashton West, chief executive of the MIB, said: “Britain has one of the worst records in Europe for driving uninsured – around 5% of the population. Young people make up a significant number of uninsured drivers and with one in five newly qualified drivers having an accident in the first year of driving”. He went on to say that “More than £500m in funds from law-abiding motorists are used every year to compensate people for property damage and personal injury as a result of uninsured drivers.”
Commenting on the research, Simon Douglas, director of AA Insurance, said: “Uninsured driving is not a victimless crime. Young drivers are 10 times more likely to be involved in a collision than more experienced drivers. If they have no insurance, any claim has to be met by the MIB which in turn, is funded by honest insurers.”
He continued: “The industry must work together to find a formula that recognises those who are able to demonstrate that they take a responsible approach to driving and help reduce the tragic number of claims they make and the premiums they pay.” - 26 August 2009
Recession Fuels Fraudulent Claims
An estimated £1.9 billion in fraudulent insurance claims go undetected each year, according to the Association of British Insurers (ABI) and both Admiral and Aviva agree that it’s on the increase. Fake injuries, inflated car-repair bills and “fictitious” goods allegedly stolen in household thefts are among scams that insurance fraudsters perpetrate. The cost of fraud is believed to be adding, on average, £44 to the cost of individual policies.
In 2008, the industry uncovered £730 million in fraudulent claims, a rise of 30 percent on the previous year and this trend seems to be continuing in 2009.
David Stevens, Admiral’s chief operating officer, said that “roughly a third” more suspicious claims had been referred to its specialist team during the first half of this year, compared the same period last year. The evidence has suggested the rise has been spurred by the recession. “There is some evidence that people are either creating fictitious claims or lying about the number of people in their cars,” he said.
Aviva, Britain’s largest household insurer has said that cases of insurance fraud have risen by a tenth so far this year. Andrew Buck, claims fraud manager for Aviva said “We have seen significant increases in both the motor and household arena”.
The trend, however, does not seem to be affecting all insurance companies too badly with Admiral reporting a 5% increase in first-half pre-tax profits. A result which saw them give their 3,000 staff shares worth £1,500 each a total value of £4.5 million. - 26 August 2009
No Seatbelt No Payout
Critically injured teenage holiday maker Dicken Richards has woken from a coma in France to the news that Europ Assistance is refusing to pay his medical and repatriation costs because he was not wearing a seatbelt and the car he crashed in, killing one friend and seriously injuring two others, was overloaded.
His family is “ecstatic that he has come round” and is making good progress, but it will be another couple of months before he is well enough to return home to Shepton Mallet in Somerset.
Whilst in hospital the family are paying the equivalent of £13.80 per day, but the cost of returning Mr Richards to his home is estimated to be in the region of £5,000 to £10,000 due to the specialist equipment and transport required.
A spokeswoman for the Europ Assistance said: “As is standard with all travel insurance policies, exclusions apply to any claims that relate to a customer being involved in any malicious, reckless, illegal or criminal act. Specifically, Mr Richards was not wearing a seatbelt, as required by law.”
Jon Maine, Mr Richard’s stepfather has said that the allegation that his son was not wearing a seatbelt was “hearsay and not yet proven”. The family are seeking legal advice. - 21 August 2009
GoCompare’s Answer is "Simples!"
GoCompare, in an attempt to win back business from comparethemarket.com, has launched its own multimillion advertising offensive.
The success of Aleksandr the Russian meerkat adverts has been massive. His cheeky ramblings about the confusion between his website comparethemeerkat.com and comparethemarket.com have spawned a catchphrase frenzy in workplaces across the country. It has proved to be marketing gold for the comparison site.
GoCompare’s response is TV ads featuring fictional opera singer Gio Compario singing ‘Go Compare’ to the tune of George M Cohan’s classic First World War song ‘Over There’. Compario’s larger than life personality and songs lets people know they could save on insurance premiums by visiting GoCompare.com.
But they haven’t stopped there. In an attempt to out cheek Aleksandr they have ambushed his slogan on Google. If you type in “compare the meerkat” into a Google search you will find GoCompare links with headlines like “Comparing meerkats?” and “Don’t compare meerkats”.
As Aleksandr would say “Simples”. - 21 August 2009
Summer Failings in Business Security
Hiscox, the specialist insurer in a commissioned report, has revealed that approximately two million small businesses are at risk of burglary due to a lack of security during summer months.
This seasonal trend is partly as a result of a more relaxed attitude to security, including the closing of doors and windows. A trait reflected by 44% of the businesses surveyed. One in five of those stated that they had found unlocked doors and windows on arriving at work. 48% of the survey believed that peoples attitude to security in the workplace was more lax than at home.
The leadership of these businesses are as much to blame it seems, with 73% admitting that they do not always take appropriate measures during periods of redundancy, for example changing the locks and security codes.
Earlier this year Hiscox warned that the recession could help to fuel crime and has since sited three cases of “boss napping” where employees have held their bosses to ransom. - 14 August 2009
