In the past 12 months, the UK has experienced several changes that impacted businesses across the nation, regardless of size or industry. Between growing cyber-security concerns from high-profile breaches and the GDPR, broken supply chains from a commercial CO2 shortage and the collapse of big-name companies like Carillion, various risks have taken precedence. Not to mention, 2019 will be another year of change as Brexit occurs.
Beginning 1st October 2018, the HSE will be conducting its latest inspection initiative, focused on the construction sector. Employers can expect HSE surprise inspections to place an emphasis on ensuring workers are protected from long-term health complications, such as occupational lung disease, that typically result from asbestos, silica, wood or other dust exposure.
Buying insurance is often taken for granted. For personal insurances the buyer will usually start on the internet, whether to get a quote or to find a broker. One or maybe two products are bought on average, maybe a motor policy and legal expenses or a household policy. Price is often the key driver for making the decision.
One of our clients, a construction company specialising in building hotels, restaurants and pubs, completed the build of a hotel in Suffolk for a large, well-known chain. The quality of their work was always excellent and their first-class reputation helped them win major contracts.
Last year was a record-breaking year in terms of cyber claims, totalling more claims than the previous four years combined, according to recent industry research.
A few years ago, one of our clients, a large construction company, purchased a well-established joinery and woodworking business which had been trading for well over 50 years.
No matter how bright the future looks for your business, you never know when disaster will strike. Whether it be a flood or destructive building fire, it is vital to have proper insurance policies to protect your business from any interruptions—especially if you are a SME with minimal financial flexibility
In 2016-17, the HSE had a 93 per cent conviction rate, with the average penalty costing organisations £126,000. Now, take a minute to review your health and safety policies—are they sufficient enough to avoid such a staggering fine?
Construction is one of the most dangerous industries in the United Kingdom. HSE inspectors have the right to enter worksites without prior notice, although many will give notice where appropriate. It is your responsibility to make sure that you are prepared when inspectors come.
Self-building a new home or extension can be an exciting and rewarding process. It gives a self-builder the opportunity to create a customised space from start to finish. Self-build homes can be environmentally friendly, often have innovative designs and may cost less than standard housing.
More than ever before, organisations are aware of the potential financial impact of a cyber-attack. Many wrongfully assume that the steep, monetary burden of a cyber-attack (exacerbated by new, higher fines under the GDPR) is exclusively tied to damaged digital assets, lost records, and the price of investigating and reporting a breach.
Whether it’s brand new or just new to you, buying a vehicle is one of the most significant purchases that you will make during your life. It requires hours of research comparing different makes, models and features even before you start hunting for the best deal. Unfortunately, after all of that work, once the front tyres of your vehicle leave the forecourt, it begins to lose its value.
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.