As the owner or manager of a construction firm, you know that construction projects, no matter the size or scope, can be significant undertakings full of challenges. One such challenge that you may encounter deals with what type of subcontractors you hire—specifically labour-only or bona-fide. Knowing the differences between these two classifications can help protect your business from costly and damaging risks, including fines, penalties or even whopping insurance claims.
If properly installed, monitored and maintained, an intruder alarm system can provide your organisation with security and peace of mind. Burglars are an ever-present threat to your business. Fortunately, there are simple methods to deter them from succeeding, such as sturdy locks and an intruder alarm system.
On 27th February 2017, Lord Chancellor Elizabeth Truss announced a new discount rate of – 0.75 per cent for personal injury awards. This new rate comes into effect 20th March 2017 and was met with enthusiasm by personal injury victims and advocates, but with sharp criticism by insurers.
Aviation insurance is a policy that offers property and liability coverage for aircraft. It covers losses resulting from aviation risks that come about due to the maintenance and use of aircraft, property damage, loss of cargo, or injury to people.
The Smoke and Carbon Monoxide Alarm (England) Regulations 2015 were approved by Parliament in order to reduce the risk of injury or death caused by smoke or carbon monoxide in the private rented sector—they apply to England only. The regulations place onus on private sector landlords starting on 1st October 2015 to ensure the installation of smoke alarms on every storey of their rental properties which are used as living accommodation,
The trickle-down effect of insurance pricing
Insurance premiums are not direct reflections of the risks you insure. While inflation is a good start for anticipating changes in your rate each year, there are still other, more subtle factors you may be unaware of that affect the cost of insurance. Let’s start at the top and examine the trickle-down effect that determines your insurance rate.
While the United States is the fourth easiest country to do business with according to UK Trade & Investment, conducting business in a foreign country creates unavoidable challenges. But these 10 US states—the best for UK firms operating in the United States—can make the transition worth the investment.
Although we at Bromwall do not specialise in single vehicles, we are great at motor fleet. Unfortunately, accidents happen, so how do you check if the person you have had an accident with is insured? The following information explains the services now available.
Are you aware of the new legislation which is currently being passed in law relating to insurance? The following outlines what it is all about and how if could impact you (reference Zywave).
The Insurance Bill, a piece of legislation designed to modernise and support the growth of Britain’s insurance industry,
Most companies we visit to quote we find are underinsured on their commercial insurance. This may be down to misunderstanding of how the insurance works or bad advice from their current broker. The following is some essential advice to help you protect your business. Many businesses, regardless of industry, are risking their own survival by unwittingly remaining underinsured. The problem is widespread and perennial and a cataclysmic event can strike at any moment, leaving businesses vulnerable to complete destruction.
Are you looking to hold an event? Insurance is always a stumbling block when it comes to putting on an event whether its a village fate or a business conference. There are a number of areas you should consider and be protected for when arranging such an event let us help. The following is a guide outlining what may be required. Why not call us to learn more?
The Driver and Vehicle Licensing Agency (DVLA) is phasing out the paper counterpart and will only issue the photocard driving licence starting 1 January 2015. The decision to eliminate the paper licence stems from the government’s Red Tape Challenge consultation on road transport and is aligned with the government’s recent abolition of the paper tax disc in an effort to digitise driver records and cut through bureaucratic red tape.
Beginning 1 December 2014, certain provisions of the Immigration Act 2014 (Act) will come into effect. These provisions will require private landlords to determine whether new tenants have the right to rent before letting a property to them.
The Act’s requirements will apply to:
Fleet fraud is costly, falsified and inflated claims cost billions of pounds a year. A staged accident or injury claim by an employee can mean expensive payouts and increased insurance premiums, so it is essential that your business takes steps to prevent and detect employee fraud. Anti-fraud measures and internal controls can and should be designed and customised for each individual organisation based on its unique characteristics. In addition, stay alert for these red flags:
The Internet is full of legal concerns and social media is no exception. Even if your company does not participate in social media, your employees undoubtedly use it on their own time, creating potential liabilities. For companies that do engage in social media, various risks should be considered—from who owns a Twitter handle and followers (company or employee) to privacy breaches
Product Liability Insurance provides solid protection for your business relating to the manufacturing or sale to the public of products, foods, medicines or other items. This cover provides protection against liabilities for losses due to injuries caused by malfunctions or defects in your products – including design defects or a failure to warn consumers about the dangers
Employers’ Liability Insurance protects employers from claims of negligence made by employees who suffer injury or ill health due to their work. Unlike most other types of insurance, Employers’ Liability Insurance is compulsory. If you employ workers based in England, Scotland or Wales (including offshore installations or associated structures), your company must carry Employers’ Liability Insurance to avoid substantial fines.
Optimism is the fuel that drives the entrepreneurial spirit, so it isn’t surprising that most small business owners consider themselves optimists. Too much optimism, however, can get a small business owner into trouble. A business plan built solely on the “best case scenario” is like a house of cards,
Starting a small business requires tireless effort and endless financial reserves. Besides dealing with necessary tasks to start the business—affording exorbitant start-up costs, establishing a customer base, forecasting cash flow problems—new small business owners are besieged on all sides by risks.
The only sure-fire thing you can count on during the tumultuous beginning stages of your business or later in its development is
Owning precious valuables can sometimes be worrisome. On the one hand, possessing unique and expensive objects such as art, jewellery or an expensive home can be a source of pride and imbue you with a sense of distinction. On the other hand, these objects can create additional burdens, constantly requiring security and special consideration.
No company, big or small, is immune to a data breach. Many small employers falsely believe they can elude the attention of a hacker, yet studies have shown the opposite is true. According to Verizon Communication’s 2012 Data Breach Investigations Report, 72 per cent of the 855 data breaches analysed were at companies with 100 or fewer employees.
As intellectual property (IP) becomes a vital part of more firms’ assets, businesses must consider the additional exposures they face. While certain industries such as manufacturing, computer software and pharmaceuticals face higher exposure levels to IP infringement suits, almost all businesses today must consider the possibility of a claim. There are several types of intellectual property protected under the law, including:
During times of recession and economic downturn, organisations’ employers’ liability insurance is more susceptible to fraudulent claims. Fraudulent employers’ liability claims are often difficult to defend due to the fact that a defence may be prejudiced by the failure of the defendant company to properly provide a safe place or system of work or establish proper reporting and risk management procedures.
Starting 2 June, the UK public has a two-week opportunity to get rid of and shield themselves from two types of malware (GOZeuS and Cryptolocker) that attack computers running any version of Windows. This opportunity is a result of action taken by the National Crime Agency (NCA) as part of a concerted multi-national effort.
The Mesothelioma Act 2014 was passed on 30 January 2014 to create the Diffuse Mesothelioma Payment Scheme, a new insurer- funded compensation scheme for victims of diffuse mesothelioma who are unable to trace a liable former employer (or employers’ liability insurer) that negligently exposed them to asbestos. On 1 July 2014, the Diffuse Mesothelioma Payment Scheme (Amendment) Regulations 2014 will come into force and increase the average payments that the scheme awards to mesothelioma victims.
You know that insurance is essential for your construction business, but did you know that not all construction insurance brokers are the same? If you tend to compare policies based solely on price and cover, then you are missing vital services that only select brokers can provide – services that will save you time and money. An expert broker in the construction insurance industry knows that contractors need the right covers and services that include superior risk control,