Important numbers

Top Tips

Here are 2 top tips to keep the cost down, when arranging your business insurances.

There are 3 numbers which are used to calculate the premium, they are:

  1. Physical sums insured
  2. Gross Profit
  3. Turnover
  4. Wages

Top Tip 1

Both (1) & (2) need to be accurate as these are values on which your claims will be based. If they are too low, your claims will be reduced by the amount of under insurance as a percentage %

They should be the replacement cost ITEMS or the cost to reinstate BUILDINGS.

Top Tip 2

Both (3) & (4) are simply used to calculate the premium once a year. They are not sums insured, so whilst they need to be reasonable, they should not be overstated. If they are, you are simply going to pay an increased premium based on something which hasn’t yet happened. Last years actual is a perfectly good number.

Brokers working on commission will want the higher figures, because they will earn more money.

Because we work on fixed fees, not commission, we will never ask you to overstate these numbers.

We want to keep your premium as low as possible, because we know that will make you happy.

Have a great day 😊


Corporate Continuity – Part 4

A solution designed for the specific business.

Once we have management buy in to business continuity objectives, have embedded the concept with staff and managers and have identified the key vulnerabilities, we go on to design the solution specific to the business.

The solution will of course depend on the nature of the organisation and the products and or services that it seeks to deliver. The solution designed for a manufacturing company, will differ dramatically from that of a home nation-based charity.

We will look at risk and threat assessments before we decide on the appropriate business continuity solutions. We will consider interdependencies within the business, especially where solutions may rely on suppliers and their supply chains.

We may look at existing arrangements and adjust them according to the “Minimum Business Continuity Objective”. Cost effectiveness will always be a consideration. Top management will of course need to sign off the appropriate solutions.

Solutions should be consolidated by resource type to ensure they are consistent across the organisation and do not conflict with other objectives.

Finally, we will establish the projects required to implement the solutions, so the organisation can #justkeepgoing.

When all is said and done designing the correct solutions is essential if the final plan is to be fir for purpose.

Have a great day




Charity begins at home, or so they say?

One of the biggest areas of increased economic activity in recent years has been in the charitable sector, as governments looks to push responsibility, decision making and scarce resources down to charities, community interest companies and the not-for-profit sector, in order to deliver a range of services.

Some cynical people would say this also pushes responsibility away from elected politicians, who can then wash their hands if anything goes wrong, but in truth this is simply the practical outcome of giving responsibility to local organisations with eyes, ears and hands on the ground, where the problems are and solutions need to be delivered.

It therefore automatically follows that those organisations need tailored insurance solutions, which are fit for purpose in their sector.

There are challenges here, as sometimes the members of the public they interact with have difficult or problematic lifestyles, may be vulnerable and may also require a high level of care and consideration.

There are also a lot of volunteers brought into such organisations and whilst they are not employees in the normal sense of the word, they still require the same level of care, especially dealing with other individuals who may at times present the risk of injury or damage to themselves, as well as the people trying to help them.

The founders of these organisations also need specialist cover to make sure that in the course of their activities, if they unwittingly break the law or fall foul of it, they are protected personally. No trustee should be disadvantaged financially or otherwise whilst leading the organisation and this is where trustees liability plays an important part.

Today I going to be talking to a founder, whose organisation has grown massively over the last few years and with it his responsibilities, duty of care and therefore his liabilities.

We will look at the solution that is already in place and decide if it needs any alterations to deal with the organisations increased activity levels and its growing volunteer workforce, #becauseaccidentshappen to nice people all the time.

At all times I will make sure we have the correct technical solution at the lowest price, because more than any others sector, cost saving is essential, so those scarce resources can be spent in the most efficient manner and most importantly on the individuals it seeks to help.

If you want to know more about the specific solutions just call 029 20 470 375 or email