Archive for the: Insurance category

On Thursday 11th May in conjunction with Sampson Hall, we held a Business Breakfast seminar at Exeter Racecourse. Our goal was to educate and inform our guests on the practicalities of how you can safeguard yourself and your business before, during and after a potential cyber-attack or data breach.

The session required no technical background and was aimed at Business Owners, Board Members, those responsible for information security, HR Directors, Leaders and Managers of teams and those responsible for the companies insurance. We even had a guest presenter; Adam Atkins from Global Insurer Hiscox who discussed the importance of cover and the benefits of having access to a crisis management team. 

When victims of life-changing injuries accept a lump sum compensation payment, the actual amount they receive is adjusted according to the interest they can expect to earn by investing it.

In addition, when finalising this amount, the Courts apply a Personal Injury Rate, also known as ‘Ogden’ or ‘Discount’ rate, designed to help calculate future losses for life (such as care costs) and future loss of earnings. The rate is applied using multipliers specific to each claimant taking into account their age and other factors such as their education, retirement age and life expectancy.

Last month the Lord Chancellor announced that commencing 20th...

Did you know that the first computer virus ‘Elk Cloner’ was created as a practical joke? It was written in 1982 by a 15 year old student with the intention of displaying a short poem, when the computer re-booted every 50th time. In reality, this caused no real harm to the operating system but it soon paved the way for more sinister versions to follow in its footsteps.  

Since then, millions of viruses, malware, trojans and spyware (to name a few) have appeared worldwide making the headlines. Even this week in the news; a denial of service...

According to research by the Association of British Insurers nearly one in five claims made on buildings and contents insurance is for damage caused by escape of water, costing as much as £2m every day.

Understanding and assessing your exposure to water/fluid leak and damage is just as important as a fire risk assessment in terms of an organisation’s capacity to operate successfully and profitably. Reducing the risk of damage to your property will avoid uninsured costs; interruption to your business, supply chain and increased insurance costs etc.

The damage and financial loss suffered from the effects...

Pavey Group has appointed a leading local insurance expert to the role of Commercial Account Manager.

Steve Joint will work with commercial client accounts from across the South West at the Devon-based firm, helping them to ensure they have the best insurance and risk management arrangements in place for their business needs.

The father of four, who lives in Newton Abbot, said, “I am delighted to have joined Pavey Group who are acknowledged as a leading insurance and financial services brokerage in the South West. We have a great team of highly experienced individuals who are renowned for delivering market leading service...

Whether you’re the owner of a holiday property, or a family planning your summer holiday here in the West Country; ensuring everyone’s safety is paramount.

As guests, we understand that your primary goal is to have a fantastic break, spend quality time with loved ones and see some of the great attractions and locations the West Country has to offer. You should also expect a holiday that is free from accidents and injuries, which holiday property owners do everything possible to ensure. However you can also take the following precautions:

• On arrival familiarise yourself with the property
• Read the guidebook, it will contain...

With an estimated 600,000 unoccupied homes in England and approximately 20,000 squatters in the UK, unlawful occupation is one of the biggest risks owners face when leaving a property empty. Other potential risks facing your property can include theft, vandalism and accidental damage. We examine some of these key risks below, and what you can do to mitigate them.
 

In 2012, a new law was introduced, making squatting in a residential property a criminal offence, punishable by up to six months in jail or a fine of up to £5,000.

However, squatting in commercial properties is not a crime and...

It’s every landlord’s nightmare; your tenants have vacated the property and before doing so, left you with potentially thousands of pounds worth of damage. The windows are smashed, the doors and walls full of holes, they’ve even taken your furniture – what now?

Malicious Damage is not always included in standard insurance policies. With one of the UK’s largest insurance companies showing the average costs for such claims being in the region of £6,700, it is important to understand the cover you have in place and its adequacy to protect you in such events. Failure to do so may result in...

We are all more reliant on technology. This increase in reliance creates new risks and potential liabilities for businesses which traditional insurance policies are insufficient to provide cover for.

Insurance that protects you in the event of a cyber-attack may seem like something only a large corporate organisation would require. However, cyber criminals are non-discriminative, using malicious codes across the internet to search for vulnerabilities, with the potential to attack business of any size, anywhere in the world.

These criminal activities commonly referred to as ‘cyber-crime’ can not only result in significant financial losses but also significant interruption to a business. So...

From 1st February 2016, all private landlords in England will have to check new tenants have the right to be in the UK before renting out their property. Under the new rules, landlords who fail to check a potential tenant’s ‘Right to Rent’ will face penalties of up to £3,000 per tenant. The new law will mean that private landlords, including those who sub-let or take in lodgers, must check the right of prospective tenants to be in the country to avoid being hit with a penalty. Landlords should check identity documents for all new tenants and take copies. The...