It all starts at home!

And it doesn’t have to be complicated

Whenever I have had to train new entrants into the world of insurance, we always start with a basic household policy. It is the simplest form of policy for damage to property.

If I can get a new team member to understand the cover provided, they can move on and understand more complex forms of cover and more complicated products like package shop, office and property policies, before moving on to more complicated commercial combined policies, where you choose what you want from an array of possibilities.

So, what is the basic structure and cover in a household policy?

It has all the sections you might expect in any policy, they generally are detailed in the contents and are:

  1. General information including identity of insurer
  2. Cancellation rights
  3. Definitions of words in the policy where it is relevant
  4. Cover sections
    1. Buildings
    2. Contents
    3. Personal portable possessions
    4. Legal expenses
    5. Third party liability
  5. Conditions applying to the whole policy
  6. Exclusions applying t the whole of the policy
  7. Complaints procedure
  8. Making a claim

Understand the structure of this basic household policy and you understand the structure of most insurance policies you will come across, personal or commercial. You will also get a good understanding of the perils that are covered under any policy giving cover for damage to property, the extent of cover for liability to others and the scope of legal expenses cover.

Obviously the detail will be different for different types of policy, but the structure and basic cover will be the same, understand this and you wont go far wrong #becauseaccidentshappen to nice people all the time.

Have a great day.


Spring design


Client and advisor

An invisible benefit?

I can’t touch it, feel it or see it?

Insurance is known as a, ”Risk Transfer Mechanism” that means that for a defined financial loss (The Premium) you transfer a much bigger, but uncertain financial loss to someone else (The Insurer).

When arranged internationally the industry contributes to what are called “Invisible Exports” as part of our gross domestic product, (The size of our economy) and it is this characteristic that sometimes leads to uncertainty when bought by individuals and businesses in the UK.

In essence you are handing over money for something you can’t see, touch or feel, other than some paperwork. You are trusting that when you need the benefit of the insurance, there is no misunderstanding, and it operates as expected.

Now I’ve come across situations where the customer was disappointed in a claim situation, mostly when they bought direct, often over the internet. There was no advice about suitability from an independent adviser and whilst they had expectations about what was covered, what was not covered was not explained.

The client was left to read highly technical documents in detail and that was never going to happen. Even if they had they probably would not have understood the implications of 40 pages of policy wording. That is why you need a professional broker, who operates in an #openhonesttransparent manner.

When you buy a “Promise” you need to trust the person who sells you that promise and you need to trust that they understand what you want, the environment in which you make that purchase and the risks that you face and maybe even some you hadn’t thought about.

Its all about trust, and you can only get that from a professional, highly qualified advisor.

It’s likely to cost far less than you think and the quality of support in all circumstances is exactly what you need if the worst happens, #becauseaccidentshappen to nice people all the time.

If you want to see how that works and what it costs, then just drop me a line, for a completely no obligation chat. You never know you might learn something of value, in fact I can almost guarantee it.

Have a great day

Client and advisor

Good advice is essential in business


There is only one right way to do this!

Wish it were so!

It’s frustrating when we find clients who have purchased insurance from another provider or broker, and the product they have bought does not meet their needs, #becauseaccidentshappen to nice people all the time.

Whether that is because the provider didn’t understand their business, or the client didn’t explain what they do or what they needed properly, either way it’s the providers fault, they should conduct a detailed fact find so they understand what the client does, so they can advise them correctly.

Under the Insurance ACT 2015 this duty is clearly established. Clients have a duty to disclose anything that they can reasonably assume is relevant, but providers and brokers have an absolute and higher duty of care to “Find Out” what they know might be relevant, that a client wouldn’t necessarily know.

This is a skill taught to all our staff and honed through experience in the real world. Its’ one we exercise day in and day out on behalf of our clients and we are proud of the care that we show them. All clients receive the same duty of care. The small ones are less complicated and sophisticated, the larger ones just need more time and so pay higher fees, so our service is #openhonesttransparent.

This week I will be dealing with:

  • A property management company that requires liability cover for a piece of land
  • A security company
  • A client that needs a deferred VAT Bond
  • A company that imports clothing
  • And a fishing lake in Mid-Wales.

All require different solutions, but we will make sure we understand their individual needs and design solutions specifically for them.

Have a great week.


It’s not complicated, is it?

If you have a legal matter to resolve, you call a solicitor or a barrister. If you need your accounts prepared or audited, you get an accountant and if you want a building surveyed, designed and built you call a chartered surveyor and an architect.

Why, because you generally understand that there are complicated matters that require, the professional attention of those qualified people. What do they all have in common? They have professional registered bodies and they are in a highly regulated industry, with important protections in place for consumers.

So why on earth would you buy complex insurance and financial products direct from an insurer, where there is absolutely no advice about suitability, and ultimately very little protection for you as a consumer if a situation arises where the insurance does not do what you expected it to do?

Insurance brokers are highly regulated and qualified by one of the oldest professional bodies in the United Kingdom, the Chartered Insurance Institute.

The regulatory regime ensures that there is a very high level of protection for consumers and that transactions are completed in a compliant manner with full disclosure of information. Advice is at the forefront of the service, so that suitability and efficacy are almost guaranteed.

In addition there is a whole host of referral processes for dispute resolution, including recourse to the Insurance Ombudsman if necessary and the Financial Compensation Scheme should a provider go bust, during any claim process, before settlement.

So once again I ask, why would you buy direct?

Oh, it’s cheaper?

Well, I’m glad to tell you that apart from Car, Pet and Travel insurance, nothing could be further from the truth. A good broker will approach multiple insurers to find the best fit and the best value for you.

Its no good buying a cheap policy, if it turns out to be just a very expensive piece of paper, which is of little worth when you need it to respond.

Next time at least ask a broker to find out what the difference is between buying direct and taking professional advice. I doubt you will be disappointed.

Want to know more just call the office on 029 20 470 375 or email info@severnbay.com

Have a great day


Man and woman


Not boring at all

The possibilities are endless!

You think insurance is boring, well it is!

We seldom sit down and read policy wordings, endorsements, warranties, clauses or conditions, unless we have to and then of course we do, but what has kept me fascinated for the last 40 years is the people, their businesses and their situations.

One minute you’re dealing with a single site retail shop, then professional negligence for a legal firm in London and then your immediately thrown into a multi-site manufacturing operation, with all the complexity that involves, including:

  • Damage to buildings, stock, equipment and machinery
  • Business Interruption
  • Liabilities
  • Money
  • Goods in Transit
  • Engineering risks
  • Marine Cargo
  • Fleet Insurance
  • Cyber

The range of work we do at Severn Bay is endlessly fascinating, at the moment I’m working on solutions for an importer of high-end gifts, a registered charity that advices disabled people on adaptations for their vehicles, a manufacturer of children’s sunscreen products, liability for a piece of derelict land, a building company and a security firm, #becauseaccidentshappen to nice people all the time.

The range of work we do at Severn Bay is very wide and I like to think that after 40 years we’ve seen just about everything there is to see, but I’d love to find something I haven’t. That’s when I learn the most.

The challenge is on, but I know we are up for it and should be able to sort any situation to the client’s satisfaction in a completely #openhonesttransparent manner.


Not boring at all

Its boring we arent bored