The PI Cover small print that you really need to know!

When you are reviewing Professional Indemnity Insurance, as well as gaining an understanding of the key fundamentals, it's important to take time to explore some of the specifics around the cover itself and why quotations which look identical on the surface, may, in fact, be very different!

If you own or run a flooring contractors or carpet fitting operation, you will know that you need insurance.  However, as your company evolves it can be easy to overlook a specific area of risk.

Our “Health Check” series examines individual professions and identifies the typical associated risks which you may need to consider.

Most standard buildings insurance policies will only provide cover for unoccupied or empty property for a period of either 30 or 60 days.  Beyond this you will need to ask your Insurer to extend cover or arrange a specialist vacant property insurance policy. In the first instance check your current policy document or speak to your Insurer advisor to understand existing requirements or conditions.

Last July the financial regulator, Financial Conduct Authority (FCA), announced a review into the sale of general insurance add-ons, i.e. where they form an addition to the main purchase.  In terms of the motor trade market, this will include supplementary products to vehicle sales such as GAP Insurance and car paint / fabric protection insurance. 

The report findings have just been released and the outcome is likely to lead to sweeping changes across the motor industry.

As many Landlords and small businesses continue to fight to recover from severe flooding and rainfall which was described by the MET Office as “the most exceptional for 248 years”,  our thoughts start to turn to the future and the cost and availability of business insurance protection.

Business Insurance is a world full of jargon and insurance geek speak, however, if you undress the initial complexity, the concepts are very simple and liability cover is no different.

Could fear of a potential future legal challenge and Professional Indemnity Insurance claims be at the heart of the “down valuation” survey culture which is causing significant issues for some would-be home buyers?

The Insurance industry loves jargon and it’s easy to get bamboozled by all the different terms as they blend into a haze! Let’s look at five of the key Chinese whispers you might have heard at the local pub and see if we can’t put the record straight!

In these challenging economic times we’re always looking for ways to reduce overheads and bring our cost base down. Insurance is an obvious area to review and if you are a Tradesman or Professional chances are your Public Liability Insurance could be a good place to start.

Traders Insurance can seem complicated and the different options may seem bewildering.  Insurance is also one of those topics where everyone you meet seems to be an “expert” and before long people start to believe some of these Chinese whispers.  We’ve pulled together some of the most common myths that we hear when providing Motor Trade quotes.

According to our friends at Car Dealer Magazine, the Police have launched an operation called “Rogue Trader” to investigate and prosecute any Motor Trade dealers misusing their road risks insurance cover

Like football transfers or the forthcoming plot in Eastenders, Insurance is one of those subjects where everybody has an opinion or story to tell. As time goes by, and the network of Chinese whisperers expands, the truth can become lost in translation.  Not such an issue if Ronaldo doesn’t end up signing for Peterborough United, or Grant doesn’t return to the Queen Vic, but in the more complex world of commercial insurance, the potential impact could have much more significance.

We’ve compiled some of the common misconceptions about Landlord Insurance that we hear from our clients.