Andrew Bourne & Co.  are now one of a limited number of insurance consultants with access to a unique policy that will pay for a Chartered Loss Adjuster to work on your behalf to prepare, negotiate and settle Material Damage, Business Interruption and Contract Works claims exceeding £5,000. It is called Loss Recovery Insurance.

In in brief the policy cover provides:

• Quick response at a time of crisis
• A dedicated Loss Adjuster to prepare and negotiate your claim
• Peace of mind from best advice
• Saves time and minimises disruption to your business
• Negotiation of the best available settlement under the terms of your policy
• Management of meetings and correspondence with your insurer
• Working with your accountants to prepare any business interruption claims
• Arrangement of remedial work and surveyors if required

Of course we would still be there to support you during the loss. However, larger insurance claims can be extremely time consuming and disruptive to a business, and  using a unique loss recovery insurance policy would greatly reduce the impact of a claim.

Premiums start from as low as £32.00 including IPT for a small business.  We  believe that including this policy within all our clients insurance programme would ensure their insurance requirements are more fully met.

For further details, or to ensure this service is included in your insurance programme, please contact your usual Account Manager on 0116 272 0770

Continuous Insurance Enforcement (CIE) is a new initiative led by the Motor Insurers’ Bureau and DVLA to reduce the number of vehicles being driven on UK roads without Insurance.

It is now a criminal offence to keep a vehicle without appropriate motor insurance unless it has a valid Statutory Off Road Notification (SORN).  The new law is in addition to the existing offence of using a vehicle without Insurance and also in addition to the current MID obligations.

Failing to comply can result in the registered keeper of the vehicle receiving a fixed penalty notice of £100 (multiple fines may be imposed), the vehicle clamped, seized or disposed of and possible court prosecution with a maximum fine of £1000 plus a criminal record.

For further information regarding CIE, please contact your Andrew Bourne & Co support team. Alternatively, please visit www.direct.gov.uk/stayinsured

By Richard Gibson

The insurance Market increasingly demands evidence that policyholders attain and maintain compliance due to the overabundance of Health & Safety legislation.  Not only is adherence statutory, but when evidenced to insurers it can produce premium savings and, in the event of a health & safety injury, will afford crucial defense against legal action.

Many clients have neither the time, resources or trained ‘competent’ person in place, as statutorily required under the Management of Health and Safety at Work Regulations 1999. Therefore, in order to assist clients to meet our professional obligations as your brokers, we have sourced the UK’s premier pro-active provider MHLsupport Ltd to assist our clients in meeting their statutory and policy obligations.  Having asked several firms to present their services to us, our research revealed that MHL provides the most hands-on and professional support in assisting companies attain and maintain compliance.  We have found their fees, to be highly cost effective, and, strongly recommend companies take advantage of their offer of a FREE consultation with one of their expert team, at no cost or obligation to you.

Please bear in mind that insurance cover is not legally available to protect against the fines imposed at criminal court on the directors and officers of a business and the business itself (body corporate) if there is an accident or injury to a third party. In the event of non-compliance, criminal proceedings would be actioned by the HSE or Local Authority.  The only protection that can be afforded to you as employer is to attain – and of course maintain compliance.

For further information regarding this service please contact Richard Gibson on 0116 272 0770

Insurers cannot charge different premiums to men and women because of their gender, the European Court of Justice (ECJ) has ruled.

The decision means that women can no longer be charged lower car insurance premiums than men, and the cost of buying a pensions annuity will change.

The court was ruling on a challenge by a Belgian consumer group Test-Achats.

It had argued that a current exemption for insurers contradicted the wider European principle of gender equality.

“Taking the gender of the insured individual into account as a risk factor in insurance contracts constitutes discrimination,” the ECJ said.

The requirement for unisex insurance premium and benefits will start on 21 December 2012, giving national governments and the European insurance industry time to adjust. For car insurance, women are generally a lower risk to insure than men but will, in due course, have to pay the same premiums.

The British Insurance Brokers’ Association (BIBA) said currently the cost of the average car claim by an 18-year old man was £4,400, while that for an 18-year old woman was £2,700. “The ruling will have a significant effect on the insurance industry which has used the system of risk based pricing to award discounts to lower risk drivers like young females who are statistically safer drivers,” said Graeme Trudgill of BIBA. “The industry will have to change its model and effectively females will now pay a cross subsidy for males on their insurance premiums.”

Simon Douglas of AA Insurance told BBC News that the decision could add about £400 to the annual cost of car insurance for a young woman. “Particularly for women under 30 where the difference is most extreme, they currently pay about half what a man would pay,” he said.  “We could see their prices go up 25-30% and men’s premiums could fall by about 10%.”

The Aluminium Federation (ALFED) has appointed Andrew Bourne & Co. as its Insurance and Risk Management adviser.

ALFED represents a wide range of companies and associations within the UK Aluminium Industry.

Chief Executive of ALFED  Will Savage said :  “I have worked with Richard Gibson and his team before, and have first hand experience of the skills and benefits they bring to industry groups, and the cost benefits that can be gained.  Working in partnership with Andrew Bourne & Co. provides a bespoke insurance package for its members as well as giving them a collective voice in the insurance market.  Members also  benefit from being represented by insurance specialists who understand the aluminium industry and issues.”

More information will follow shortly to ALFED members,   but in the meantime if you have any questions please contact Richard Gibson on 0116 272 0770 or email: richard.gibson@abourne.com

Links:  www.alfed.org.uk  

Against a backdrop of difficult economic conditions in an increasing litigious society,  there has never been a greater need for U.K Companies  and their directors to have suitable protection from legal actions brought against them.

With many employers being forced to downsize in recent months many insurers have experienced a sharpt rise in claims on its policies made by redundant employees for unfair dismissal or discrimination. With alternative employment hard to come by,  more ex-employees are taking the legal route to resolve their issues, perhaps taking the view that they have nothing to lose by taking their former employer to a tribunal.

Increased protection for employees in the shape of recent legislation has further increased the risk of experiencing legal action, even for the smallest employer.  These regulations include the Corporate Manslaughter Act, greater maternity and paternity rights, and laws forbidding sexual discrimination on the grounds of age, religion or sexual orientation. Further many companies are not aware of their vicarious liability for the actions of their employees;  an “off the cuff” remark made by an employee, even in apparent jest, can lead a company facing expensive legal action,  potentially paying a six figure award if its defence is unsuccessful.

IS YOUR COMPANY PROTECTED?

Standard Directors and Officers’ insurance will cover individual directors and officers against many forms of action.  However, this may no longer be sufficient to protect companies against new and changing laws.  In addition, some policies will respond only when the insurer believes they have a high chance of winning the case. This means that, at the very time you need it most, the cover may not be available, leading to costly, unforseen expenses.

Policy wordings are now avalable that will offer you protection even if the employees case is strong. Management Liability products offer comprehensive protection for UK companies and business owners, including cover to protect against actions from employees and regulators, plus many other areas of potential legal action including shareholder disputes , taxation claims, pollution claims and breach of  data protection rules.

For further details please  contact Richard Gibson on 0116 272 8821 or speak with your regular account executive.