Latest Blog

Jun - 13
2019

How technology is providing vital evidence with motor fleet claims

How technology is providing vital evidence with motor fleet claims Dash cams are becoming more commonly used by British motorists, with almost 11 million motorists using one. In the unfortunate event of an insurance claim resulting from an accident, they eliminate any element of doubt to an insurer by providing video evidence. For businesses that operate fleets of vehicles this can prove vital as footage recorded on a dash cam can be submitted directly to an insurer. The latest blog post by Real Insurance provides an insight and further reading with regard to visual evidence and motoring claims. The full article can be read here: https://realinsurance.co.uk/how-technology-is-providing-vital-evidence-with-motor-fleet-claims/

May - 16
2019

Motor Theft: What trends should you be aware of in 2019

Motor theft: what trends should you beware of in 2019? Vehicle theft is on the rise throughout the UK. Alongside more traditional types of theft, there’s a worrying trend of criminals taking advantage of new motor tech by carrying out so-called “keyless” theft. But what’s the difference between these types of crime? And what do you need to know to keep your vehicle safe from all forms of theft this year? Here’s what all vehicle owners should be aware of in 2019… 2019 Overview While motor thefts have generally been on the decline, a sudden upturn made 2018 the worst year for thefts in a decade[1]. This was driven by increases in both keyless and more traditional types of theft. Keyless thefts affect newer vehicles that use keyless fobs for entry and ignition, while traditional thefts can affect almost any vehicle but rely on “old-school” forced entry methods. In terms of geography, at NIG we’ve seen a significant spike in vehicle thefts in London, particularly in East London – Romford is now the no.1 area for motor theft nationwide[2]. And in terms of timings, we’ve noticed a particular increase in the number of crimes occurring at weekends. We believe vehicle owners, especially those in London, should take additional steps to protect their vehicles, and should be aware of the risks of both forms of theft, particularly if they have a newer vehicle. To help you stay one step ahead of the criminals, here are some of the car theft trends…

Apr - 10
2019

Fire or possibly Flood In The Hold !

Storage of Stock and Flammable items Storage of Stock is something which is often overlooked when reading through policy documentation.  Whilst your total stock sum insured may be adequate to cover the total stock held at premises at any one time, the way it is stored may not be right. Most Insurers will apply a stock storage condition to a policy which will stipulate how the items must be stored. This is called a ‘stillage warranty’ and will stipulate the height from the ground the stock must be kept.  Generally speaking insurers impose a height storage requirement of 7.5 to 15cm above the ground however this will differ depending on insurer so check your policy. In respect of  certain types of stock there may be additional requirements stipulating the apparatus upon which it should be stored or an increased height if the stock is of a more delicate nature. Ultimately the condition is applied to protect the stock in the event of a burst pipe or flood but it also helps to limit the claims exposure under the policy and help keep premiums lower. A stock storage condition may be applied to stock stored in basements or at ground level. Remember however that should you store stock in a basement or below ground level insurers must be notified as they may apply different conditions to the policy for this.   Storage of Flammable Items Now most Commercial Combined policies will have a Flammables Condition applied which stipulates how flammable items…

Mar - 05
2019

Non Declaration of Material Facts

Will my Insurance Pay a Claim if I dont Declare a Material Fact? 123 Signs insured their Business with a broker in 2017 under a Commercial Combined Insurance. In 2018 they had a break in and a substantial amount of contents including computers were stolen. They contacted the broker to make a claim. A loss adjuster was subsequently appointed by Insurers to assess the loss and collate the costs. Whilst the loss adjuster was undertaking his enquiries he found the client had previously been declared bankrupt in 2015 in respect of a previous company he owned. The loss adjuster reported this back to insurers to check if the client had declared this when taking out the policy. Insurers confirmed this had not been declared. Insurers subsequently contacted the broker to make further enquiries. It was determined that the broker had clearly asked if the client or any other directors been declared bankrupt / insolvent, had any non-motor convictions or criminal offences, been the subject of bankrupcy proceedings, had special terms imposed or renewal refused of insurance, any ccjs, iva’s or insurance cancelled, prior to the policy being taken out. The client had answered no to all of these questions. In addition to this a statement of fact had been sent to the client stating they must declare any material facts including reiterating the original questions the broker had asked. Insurers declined to pay the claim as it was demonstrated the client has been asked about this information when applying for…

Feb - 06
2019

Does my Insurance cover me to install?

Signelite prides itself on supplying Sign Industry specific products to customers. Our commitment to understanding the Industry means our products are designed to include those all-important extensions a Sign Company needs. If these key covers are missing it could result in a problem and our case study below highlights this. Does my Insurance cover me to Install? A client who had been insured with Signelite for many years was approached by a local Broker to ask if they could quote for his business at renewal. The client agreed and the local Broker provided a quote which was £200 cheaper than Signelite. As a result the client decided to change to the local Broker to save some money. The team at Signelite did stress to the client to check the cover he had been offered to make sure no key covers were missing and gave the client some examples of the possible differences to check. The client confirmed to us the Broker had said the cover was the same therefore he was moving to save money. A year later the client contacted Signelite for a new quotation. It was established the client had tried to make a claim on his policy during the year and it had not been covered. He had been to install a sign for a local business, had dropped it and damaged a vehicle parked below. The Insurance company had declined to pay the claim. It turned out the local Broker had not asked if our client…

Jan - 18
2019

BSGA Offer financial support towards training

BSGA Offer financial support towards training The BSGA are pleased to announce that from 1st January 2019 until 31st December 2019 all BSGA Full and Affiliate Members will receive financial support towards the cost of attending workshops and training provided by BSGA Members Make it Happen. This will apply to any of the education workshops or Dress Down Hands On programme offered by Make it Happen. These are CPD accredited and are considered beneficial for employees’ career progression and advancement. In one day, attendees can learn about more techniques and materials than any sign company will deal with in over a month’s work. The benefits are a more educated and enthused work force able to spot more and more lucrative opportunities. These courses are aimed at those who are new into the industry as well as working with those who have had more experience. The courses provide help and guidance so that those missed opportunities become less and less. Why are we doing this? Here are a couple of testimonials that go a long way in explaining why we feel Members of the BSGA should seriously consider these courses for themselves and there employees. For more information please visit https://uksigns.org/industry-news/bsga-offering-financial-support-towards-training/              

Jan - 14
2019

Does my Insurance cover me to Manufacture?

Does my Insurance cover me to Manufacture? XZY & Co were approached by their bank to offer them insurance for their business. After a brief discussion with an advisor at the bank they were provided with a quotation at an extremely reasonable rate. XZY were happy to proceed with cover, the policy did seem cheap but the banks rates were very competitive. Two months later XYZ contacted the bank to ask the to increase the sum insuted at premesis for contents as they were buying a new engraving machine and replacing their wide format printer with a newer model. The advisor at the bank sounded confused....... It was subsequently discovered that the bank had provided them with an office policy which basically covered office contents at the premises and liabilities for clerical based administration work which included clients visiting the office. It did not cover manufacture neither did it cover them for sign install work.  

Dec - 31
2018

Does my Insurance Cover me to Work at Heights?

Sign Industry - Working at Heights Signelite prides itself on supplying Sign Industry specific products to customers. Our commitment to understanding the Industry means our products are designed to include those all-important extensions a Sign Company needs. If these key covers are missing it could result in a problem and our case study below highlights this. Case Study: Working at Heights A new Sign company approached a broker in their local town to obtain a quote for their new signage installation business . They advised the broker they would be installing only and would not be undertaking any manufacture. They have employees so Employers liability would need to be included. The broker confirmed this will be fine and proceeded to take details of the company, the wages and turnover. The quote was obtained and the new sign company went ahead with cover. The Sign Company began to pick up a lot of work and obtained a contract with a local university to install a number of signs at different heights and some involving the use of a cherry picker. They rang their insurer to advise they would be working at a 20 meter height to install two of the signs and this would be undertaken from a cherry picker. The rest of the work would be low level signage. The broker advised them their policy was restricted to a 10 metre height limit only so they cannot undertake installations above this. The client lost the contract as a result.

Dec - 19
2018

Will my Insurers Pay a Claim if I dont Declare my Motoring Convictions?

Case Study: Will my Insurers Pay a Claim if I dont Declare my Motoring Convictions? XYZ Sign business insured their company vehicles under a motor trade policy with an insurance broker in 2017. When an employee of the business had an accident later that year they contacted the broker to make a claim. It was subsequently discovered that the driver of the vehicle had a number of motoring convictions on his driving licence which he had failed to disclose when the policy was taken out. As a result insurers refused to to the claim because convictions had not been declared. Prior to insurers making this decision further enquiries were made by them to ascertain the full facts as to non-disclosure of the convictions. It was determined the broker clearly asked the question when the insurance was applied for whether any drivers had any motoring convictions or accidents in the last 5 years. In addition to this. a motor trade proposal form had been completed and signed by the policy holder and again convictions were not declared. Whilst insurers will take a view on each individual case and gather facts in order to ascertain whether the client was negligent or had simply made a mistake in not declaring the information, in the above case the convictions on the drivers licence were a lot more serious. These turned out to be DR10 for drink driving which involved a ban and a CD10 for careless driving. If these were declared to insurers when the…

Dec - 17
2018

A Great Celebration of the British Sign Industry (Nov 2018)

A Great Celebration of the British Sign Industry The signelite team recently attended the BSGA Awards for the Sign Industry and what an amazing evening was had by all. With just under 300 sign industry professionals gathered at the Athena Centre in Leicester on Thursday (Nov. 8th) for the annual British Sign Awards celebrating some of the best work completed and undertaken by British sign businesses over the past year. A total of 15 awards were presented, covering every aspect of sign making, from traditional crafts through vehicle wraps and interior décor to large scale, highly engineered signs. Guest speaker at this year’s event was ‘The Legend’ Steve Davis, six times World Snooker Champion, who was a huge success with the audience and, with the assistance of BSGA Director David Catanach, kept the presentations of the awards flowing smoothly. Signelite offer there congratulations to all award winners. A full list of winners can be seen on the BSGA Website (Click Here) Image courtesy of the BSGA

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