The ‘you-break-it-you-buy-it’ rule may be every parent’s worst nightmare but it’s one that could be about to come true for a US mother after her son knocked over an incredibly expensive sculpture. Sarah Goodman was attending a wedding reception at a Kansas community centre when her five-year-old attempted to hug a mosaic bust but accidentally […]
THE TRUE MANAGEMENT LIABILITY SOLUTION FOR SOLE TRADERS
The W. R. Berkley product detailed below is just one example of a product which can cover Management Liability exposures for sole traders. If you are concerned about some of the below exposures, please contact us to discuss Management Liability further. Management Liability (ML) was developed after the realisation that Directors and Officers provided limited […]
YOU CAN PROTECT YOUR BUSINESS FROM UNFAIR CONTRACTS
You Can Protect Your Business From Unfair Contracts The takeaways from our second bulletin include the following: the “unfair contract terms” legislation only applies to contracts that are both a “small business contract” and a “standard form contract”; a small business contract is one where the contract is for the supply of goods or services, […]
DATA REVEALS EXTENT OF RISING REPLACEMENT COSTS
A new report is highlighting the rising cost of replacing home contents after analysing figures from the past 10 years and comparing them to recent data. According to specialist research firm Sum Insured, it now costs almost $15,000 more to replace the contents of a typical home than it would have done in 2007. There […]
CHANGES TO CHAIN OF RESPONSIBILITY – OCTOBER 2018
Under new Chain of Responsibility laws, more parties to the heavy vehicle transport supply chain will have an increased duty of care. If you are involved in this industry, or engage companies involved in this industry, read on to see whether this applies to you. If you have any concerns or queries on this subject, […]
WHO WILL WIN THE WORLD CUP? AN INSURANCE ACTUARY’S TAKE…
Who will win the World Cup? JLT Specialty shares its study If you’re wondering who’s likely to win World Cup 2018, then this study from insurance broker JLT Specialty has interesting insights for you. Citing new research from JLT, Actuarial Post reported the odds – Brazil, with a 17.89% chance to bag World Cup victory, […]
TESLA CAR INSURANCE IDEA EXPANDING OVERSEAS
Tesla’s foray into designing its own car insurance program is looking like a good idea, as the Tesla Model S was recently named the most expensive car to insure in the United States. According to data from the Insurance Institute for Highway Safety, the Model S cost an average of US$1,789.48 in annual insurance paid. […]
NEW DATA REVEALS BROKER IMPACT ON SMEs
Demonstrating value-add can sometimes be a battle for brokers as consumers only see the biggest benefits of the relationship when it comes to claims time – however, one recent study has taken steps to quantify that benefit so brokers can show exactly how much they’re bringing to the table. Earlier this week, Vero released its […]
HOW CONTRACTUAL LIABILITY CAN IMPACT GENERAL LIABILITY
An expert has given his tips on navigating contractual liability and its relationship to general liability insurance cover. Glenn Eason, national liability manager at Solution Underwriting, said that insureds face exclusions on liability policies due to contractual liability – something brokers should be aware of. “General liability policy wordings will normally exclude contractual liability, although […]
ALLEGED SCAMMER FOILED BY DASH-CAM
A man has been caught in the midst of what appears to be an attempted insurance scam after one woman’s dash-cam recorded his bizarre behaviour. The footage, filmed in the UK, shows a man cycling into the centre of the road before throwing himself into the path of an oncoming car. He then lies prone, […]
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