Insurance and the Riots - Advice

If you are unfortunate enough to suffer damage through the recent and ongoing troubles one of our panel of Insurer's (Sterling Insurance) has advised the following process should be followed and provided advice in respect of protecting your property.

It is essential that Insurers receive any claim notification within 7 days of damage occurring.

The Riot (Damages) Act allows a recovery and or subrogated recovery against the Police for the damage sustained. However, time limits are very strict and require written notification to the appropriate authority within 14 days of the damage. There is no appeal for this time limit.

In the circumstances, it is essential that Insured's notify their Insurers of claims within 7 days to prevent the claims being time barred.

Whilst notification is important, Insured's must also be able to quantify and substantiate losses with both a schedule of loss and statement of truth within one week of the incident occurring.

Preventative measures

It is difficult to give specific and detailed guidance on measures which may be taken to reduce the potential risks faced by business and individuals whilst this situation is ongoing but the following general considerations may be helpful:

Household clients

• It is important that during these times of unrest, you ensure that all security measures at your homes are fully implemented and for your personal safety, you should remain vigilant, particularly after dark, when the rioting has been most prolific.
• All affected areas should be avoided; if in the vicinity of unrest, the advice being given is to leave the area immediately or to stay indoors, due to the high risk of violence.
• It should also be noted that rioting may break out in any area and with little warning. Any area where there is a concentration of security personnel should also be avoided.

Commercial Clients

• Prime consideration should be given toward the safety of your employees and it is advisable that adequate contingency plans are put into place to ensure they are not overly exposed by being on the premises during times of danger.
• The widespread violence has prompted the closure of numerous roads and public transport facilities, both in London and in other towns and cities throughout the UK. Employees when commuting should be encouraged to remain vigilant at all times, but particularly after dark, when the rioting has been most prolific.
• If as a policyholder you decide to cease trading for a temporary period during these disturbances you should ensure that all security devices (including roller shutters if applicable) are put into full and effective operation.
• All computer and other electronic data carrying systems should be backed up and taken from the premises and any other relevant contingency plans should be deployed.
• As a policyholder you should also ensure that you keep up to date with news events and give consideration to advice from the Police or Local Authority regarding action to take if affected by the disturbances.

We at Huber Dixon hope that you are safe and unaffected by these incidents.

After the Ash Settles

There have been many impressive accounts of how people have defied all odds to get themselves, their family and friends home at great expense, time and effort following the volcano eruption in Iceland on April 14th. This has thrown the spot light on their travel company or insurer and how well it has or has not looked after them in their moment of need.

This event has shown up some differences as to how these companies have reacted. I set out a brief overview below.

Some insurers, it seems, have viewed it as an act of god, thus ensuring that cover does not extend to this eventuality. Some however have argued that this event was weather related as the ash cloud was blown into our airspace and have therefore provided cover. Some have stuck to mitigating clauses such as exclusion for claims arising from withdrawal of service on the order of the Civil Aviation Authority.

Each policy is therefore very different. We advise you to check the wording carefully or discuss with your broker exactly what is and what isn't covered within their policies.

If you were one of the many who found themselves stuck abroad, various conventions make it the responsibility of the airline or tour operator to look after you and reimburse any additional costs you incur. Only this week, Ryanair backed down from their refusal to reimburse and agreed to be bound by European rules on compensation.

What is going to happen going forward? Who knows if this situation will occur again? We strongly recommend you review your policy and check any limitations. It will almost certainly be the case that the cheaper the policy, the less cover it is likely to provide.

If you are a company that relies on imports and exports, it may be worth reviewing your contingency plans and add this type of event to your claims scenarios.

Huber Dixon Insurance Services Ltd provide a helpful, creative and sincere service that they are excited and passionate about, looking after your Commercial and Personal Insurance needs.

Please contact us for further information on 0845 430 5430 / info@huberdioxn.com

Quinn Has Entered Administration

Personal and Commercial Lines Insurer Quinn Insurance which is based in Ireland has entered administration and the Irish Regulator has effectively taken control, due to the company being in breach of it's solvency ratios.

In the UK they have stopped underwriting new business and we are yet to see if this will effect renewals as well.

Don't panic as we understand from reports that existing polices will remain valid
and claims will continue to be paid.

If you have a policy with Quinn and are concerned please contact us for more information in respect of your options - we are here to help

0845 430 5430
info@huberdixon.com

Specialists In Insuring Eco Builds

An Eco Build uses sustainable technologies and materials to obtain an extremely healthy living environment and reduce our carbon footprint by utilising resources such as Rainwater Harvesting, Solar Power, Photovoltaic's, Geothermal & Insulation in existing buildings. We can also further improve our situation at an earlier stage with new-builds using traditional ecological materials such Timber (FCS) or (PEFC), Straw, Cob (mixture of clay, soil & straw) & Hemp Lime.

The government is very keen for us to embrace these technologies but as we know these do come at a higher initial cost and we need to carefully consider how best to protect any investment we make.

Make Your Insurer Aware

In general a standard home insurance will automatically cater for most of technologies and materials, although it goes without saying a timber framed or thatched property is going to carry a greater fire risk and therefore could be subject to a higher premium charge. However, it is very important that you make any insurer aware of what is included with your property as they may well assume its a standard property built using standard or current methods and materials. It is essential you make sure anything that is not directly attached to the building e.g. a wind turbine, is advised to them and noted as they may not consider this and above all you must ensure your building sum insured accurately reflects any such additions.

We Understand How to Insure An Eco Build

As a specialist broker for all types of property we are able to help you identify the items that require special note and will advise you on the best way to make sure these are included. We have access to a range of insurers who can adapt their polices for your specific requirements whether it's for a modern eco property or a period or listed property which is being improved.

Please contact us for more information

0845 430 5430
info@huberdixon.com

The photograph was reproduced with kind permission from Blackdown Horticultural Consultants Ltd - greenroof, whilst at the Ecobuild show at Earls Court March 2010

Watch Out For Winter

Looking After Your Home In The Winter Months
In the event of cold weather it is important to be prepared. Please download the brochure below that highlights some of the important points to help plan ahead & reduce the risks to you & your property.

Watch Out For Winter - Download the Brochure here

The brochure has been supplied with permission from Sterling Insurance Group Ltd. The document makes reference to features specific to Sterling contracts – Home Emergency cover & therefore has been designed & created exclusively for the benefit of Sterling policyholders.

Please contact us for more information

0845 430 5430
privateclients@huberdixon.com

D&O - Entity Cover

What is it and Why do you need it?
Following on from our previous article on Directors & Officers Insurance, should you also consider adding Entity cover? You may not be aware that sometimes your company rather than you the Director can face an action, such as sex discrimination, harassment or an investigation into corporate manslaughter. In the case of a company being sued, D&O policies covering only the individual directors will not be much use. Your company may have to pay for it’s own defence, damages or settlements. This is particularly relevant as you the Director may have to meet this liability which may result in the cost coming out of your own personal assets.

Is this another unnecessary expense?
We find that extending the cover to include this element rarely increases the overall premium too significantly and it should certainly give you additional peace of mind.

Please contact us at info@huberdixon.com for further details.
0845 430 5430

D&O Cover Why You Should Seriously Consider It

What is D&O cover?
D&O or Directors and Officers Liability to give its' full name provides personal protection for Directors, Officers and Senior Employees for the actions they take on behalf of the company.

Why do you need it?
The increasing burden of legislation and the ever litigious society that we live in can make the running of a company more and more difficult and Directors are increasingly exposed to a range of possible actions against themselves and their assets. If an action is bought against you as a Director then you have to respond to the action personally and this could mean that your personal assets including your house and your car are at risk. You can't rely on your company to support you as they may not be in a position financially to help.

Where's the risk?
Actions against a Director can come from many sources including employees, prospective employees, suppliers, customers, local authorities and following the full implementation of the Companies Act 2006 you are at risk from other directors and shareholders.

Sounds horrific, how much does it cost?
D&O does not have to cost the earth. There are a number of Insurance Companies and Schemes available which means, for now, the cost can be relatively low depending on the size of your company, what industry you are in and how many directors you have.

Please contact us at info@huberdixon.com for full details.
0845 430 5430