-
Be vocal about ‘silent killer’ risks
Carbon monoxide poisoning is a health and safety risk that can easily slip under the radar due to the silent, odourless, often undetected threat posed by this hazard. People lose their lives to carbon monoxide poisoning and around 4,000 people a year need emergency medical treatment.1 This is often due to poorly installed or maintained…
-
The risks associated with ESG strategies
The move to ‘green’ businesses is increasingly being driven by a desire to improve ESG (Environmental, Social and Governance) performance –– a business practice standard increasingly important for corporate reputation. The British Business Bank says ESG measures a business’s impact on society and the environment, whilst also demonstrating its transparency and accountability.1 Businesses falling short…
-
Reputation rules, so protect it well
Business survival and reputation management are inextricably linked. A 2020 survey found that 63% of executives believe reputation defines their business’s market value.1 So how much store do you place behind your own business’s reputation? In the past 20 years, it has become evermore important to safeguard reputation. As the Harvard Business Review noted in…
-
Why does underinsurance exist?
The reasons for such underinsurance ( defined as the gap between the declared value of possessions when taking out insurance or renewing a policy, and the real value of those items) are numerous. Often, it is down to the homeowner not having accurately calculated the value of what they own. This could be because they…
-
Figure it out to avoid floods of tears
Thousands of UK homeowners have not figured out what their possessions are actually worth, leaving them typically either underinsured or overinsured. In fact, only one in every ten homeowner properties is likely to be insured for the right figure.1 The degree of underinsurance can vary and wealthy individuals, owning large homes and expensive items such…
-
How to proactively manage your organisation’s infection risks?
Organisations should maintain robust infection control, including response plans, comprehensive policies, risk assessments and effective measures. As the impact of COVID-19 diminishes, it is natural to feel the urge to ease up on our infection control measures. However, during the winter season, the threat from viruses remains significant, especially for those without strong infection control…
-
Model modular construction insurance with a broker’s help
Modular construction ticks many boxes, being greener, less wasteful of resources, more cost-effective and up to 50% faster than traditional construction methods, and in the UK it is seen as a means of delivering the affordable homes’ targets. Its popularity is such that the global modular construction market is set to grow from a $104.1…
-
Can you predict a riot?
Summer 2024 was tainted by widespread disorder across the UK, in the wake of the Southport attack. On 30 July, the country witnessed violence against people, property and police, as violent disorder and civil unrest sprung up on a multi-location basis. Businesses of all types became direct or indirect victims. Some business owners experienced physical…
-
Enhanced worker protection requires specific risk approaches
New legislation, in the form of the Worker Protection (Amendment of Equality Act 2010) Act 2023, introduced on 26 October 2023[1], brings greater protection to those suffering workplace sexual harassment. Consequently, there is more for employers to do, in this area of risk management. This stricter legislation comes at a time when allegations of sexual…
-
4G and 5G: a fleet’s only road ahead
Telematics have long been cited as a must-have for fleet operators wishing to understand and analyse their on-the-road performance and track vehicles 24/7. Less attention has been paid to what is driving the technology. Some users may not even consider that connectivity is fundamental to the performance of the installed tech. This has to change,…
-
Don’t overlook machinery downtime risks
Whilst the UK has focused this year on who should be Prime Minister, it’s another PM on which businesses reliant on machinery and equipment should perhaps concentrate. Predictive Maintenance (PM) is the pro-active response to the vast costs associated with machinery breakdown — the true extent of which is often overlooked. PM is a strategic…
-
MLP or D&O insurance? Which do you need?
Business owners face a wide variety of risks evolving from both their duty of care and the regulatory landscape. The risk posed by regulatory or legal action is very real, with the potential for significant financial losses emanating from the costs of hefty legal fees and representation, as well as fines or compensation payments, is…
-
Take care over BT Redcare replacement
Businesses and individuals who have relied on BT’s Redcare alarm solution will be forced to change their security and fire alarm signalling system by 1 August 2025, when the BT option is completely withdrawn. The BT Redcare system has often been recommended by insurers, as it runs on a standard BT analogue phone line, incorporating…
-
Take care over ESG claims
ESG (Environmental, Social and Governance) has become a corporate buzzword, with ESG strategies embraced by organisations wishing to communicate across- the-board excellence in social and environmental responsibility. Impressing stakeholders, and those managing tender processes, with examples of ESG practice has become an attractive proposition – to the extent that some have over-egged the pudding, making…
-
Plan ahead for driving abroad
As millions of motorists contemplate Channel- hopping this year, those who have not driven abroad for a while may be wondering one thing: Have we reverted to the Green Card since Brexit? Luckily, you still do not require a Green Card, when driving your car in the EEA, EU, Iceland, Liechtenstein, Norway, Andorra, Bosnia and…
-
Don’t be naive about green energy’s safety risks
King Charles’ application to create a solar farm at Sandringham[1] is reflective of more widespread efforts to reduce energy’s contribution to the carbon footprint of the UK’s built environment. With a legislative target of net zero by 2050 (compared to 1990) for greenhouse gas emissions[2], considering how to integrate sustainable energy and heating systems into…
-
Access vital support at the time of a major loss
When your business has its home within a commercial building, everything on the surface can seem peaceful, until an unanticipated event emerges. Statistically, the number-one unanticipated event is an escape of water (EOW).[1] An EOW can result in an expensive loss, even if its origin is a seemingly innocuous leak. Many commercial properties include significant…
-
Computer insurance fills significant underinsurance gap
Having specific cover for your computer and electronic equipment may seem a luxury but, after all, you can claim for loss and damage on your property insurance policy, can’t you? The answer to that is likely to be ‘no’. Following major cyber-attacks in the past seven years, insurers and insureds were often debating whether vague…
-
AI: Friend or Foe?
Artificial Intelligence (AI) may have various benefits, but its sudden rise up the table in one insurer’s annual global risk survey is a warning sign to both the public and the insurance sector to beware some aspects of AI.[1] AI and big data, as a named risk, has risen from 14th to 4th place in…
-
Lithium-ion batteries: a different kind of workplace risk
Whether we are aware of it or not, lithium-ion batteries now power many gadgets used in daily life. This includes e-bikes, around which videos circulate online, demonstrating their severe fire risk. Transfer the same logic to the world of work, and it is easy to see there are some workplaces in which the same severe…