Latest Blog

Jan - 08

Driving Customers Vehicles Insurance

Driving Customer’s vehicles? Are you covered or have you just assumed you are? I know we have covered this topic before regarding driving customers vehicles,  however I thought I would drop in a little reminder for everyone due to the number of questions I receive about this during the year. So we will start with a question….. Do you drive customer’s vehicles or at the very least move them in and out of your vehicle bay, park them on the forecourt and/or the road outside the unit? Well, if the answer is yes, then please do read on……. Now are you absolutely sure you are covered to do this and also what type of insurance policy are you using to cover you? From the conversations I’ve had many of you had just assumed that either your private car policy picked this cover up for driving third party vehicles or it was covered under your commercial combined policy. Well, no I’m afraid it is not covered under your private car policy and in the answer to the Commercial Combined policy, it depends! Let me explain…. Whilst your own private car policy will cover you for driving a third party vehicle in an emergency, it certainly won’t cover you for Commercial use and moving clients vehicles about in the course of your business. The private policy is a private policy and even if it has a Business extension added so you may use it in the course of your business it still…

Nov - 26
Space Heaters

Space Heaters

As The Festive Season looms - not only are the Christmas lights being switch on….but so are the space heaters ! The Yuletide is fast approaching and it’s no good putting off those inevitable gift purchases and the organisation of Christmas festivities, although, if you are like me, it always seems to come around all too quickly. I thought I would wind up this year with some handy pointers and things to remember as winter looms and the weather changes. It may be Christmas, but you need to ensure you are safely covered. Space Heaters Keeping warm in a draughty vehicle bay is always a bit of a bug bear at this time of year and keeping the temperature at an even level for applying graphics is somewhat paramount, as you all know. You have to optimise the temperature for certain graphics applications or they will probably fail, so it is not a luxury to work in the warm, but a necessity. If you have purchased a space heater or a similar type of portable heater for this purpose then do make sure you declare this to your insurers. Most policies will exclude the use of portable heaters  unless otherwise declared and accepted by your insurers in advance, especially space heaters! Make sure that you explain to the Broker the reason for the use of a space heater in the vehicle bay, it’s not just to keep you warm but paramount for completing vehicles graphics applications / wraps. If the…

Sep - 03

Duty of disclosure and declaration of material facts

Duty of disclosure and declaration of material facts What is meant by Duty of Disclosure? It is a requirement of the client or insured person to declare to the Insurer any material fact which could influence an insurer in respect of premium or acceptance of cover for a risk. Facts such as previous bankruptcies, criminal offences, prosecutions or special terms imposed on insurances are all classed as material facts. In additional if any of your insurances have been cancelled or refused renewal by insurers this must also be disclosed. Material facts are not just serious facts, they are facts which could affect the risk such as security measures at premises, type of building construction, being situated next to a hazardous premises such as a petrol station or being located in an isolated area or close to a water course, lake or river. With this information an insurer is able to determine whether the risk is acceptable to them, if a premium loading is required to accept the risk and/or if any special terms or higher excesses are to be applied. So, what happens if you don’t disclose?? Well, firstly Insurers have the right to void the policy from inception. In effect this means they would be entitled to act as if the policy never existed and to seek recovery of all claims already paid out although they would be obliged to repay the premium to the client in most cases. The actions Insurers would take would depend upon each separate…

Jul - 30
Management Liability Insurance

Management Liability Insurance

The SignElite team looks at essential corporate cover What is Management Liability Insurance? If you are a company director or senior company member, then you could be exposed to claims made against you personally making Management Liability insurance a critical business need. You might be forgiven that as a company director you can hide behind the limited status of the company however this is not always the case and the company has limited liabilities. If you are found to be held personally responsible for an action or a bad decision, the liability may fall directly on your shoulders and bypass the company altogether. Where a company, in simple terms has limited liability, you as a director or officer (senior company member) have not, it’s actually unlimited, so you could stand to lose your home, your car or your valuables. So, what do we need to do to make sure your company, directors and senior company members are covered? But it doesn’t really happen does it, not to small businesses anyway? Wrong, it can happen to small businesses as well as larger corporate ones. Covering the directors and officers (D&O) of the business is quite straightforward, however, we need to make sure some very important optional extensions to the policy are included too, which are Entity cover and Employment Practice Liability. The D&O covers what it says on the tin, the Directors and Officers, and the action taken against them as individuals. The Entity covers the company as a whole, and the…

Jul - 10

British Airways: the first major fine since the new GDPR rules came into force

British Airways: the first major fine since the new GDPR rules came into force As you may have read in the press earlier this week, British Airways is facing a record fine of £183 million from the Information Commissioner’s Office (ICO) after suffering a cyber attack in September last year. It is the largest fine the ICO has issued since the new General Data Protection Regulation (GDPR) rules came into effect from May 2018. When British Airways was unfortunately hit by the cyber attack in September last year, the airline took just one day to inform its customers that details from around 380,000 booking transactions had been stolen, including bank card numbers, expiry dates and cvv codes. It is understood these details were taken via malicious script designed to steal financial information by skimming British Airways’ payment page before it was submitted. This hack allowed the attackers to see people’s details as they were entered on the page. Our parent company have a blog post which makes an interesting read... Read More:  

Jul - 04

Optimism high in sign and graphics industry, according to new research

Optimism high in sign and graphics industry, according to new research It is good news to hear that following a recent survey and research carried out by ISA-UK powered by BSGA that the Sign and Graphics Industry is positive and optimistic in uncertain political times. The research reveals increased sales,  companies investing in additional training and the importance of creativity and marketing which all play a role in the success of a business.   To read the full article please follow the link below. Photo Credit: Sam Armstrong

Jun - 13

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:

May - 16

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

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

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…

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