Defence

Where did my money go and how can I get it back?

Just because you have a financial loss, doesn’t mean your insurance will pay up, so understanding what is and what is not covered is crucial in business, #becauseaccidentshappen to nice people all the time.

The first concept to understand about insurance, is that it centres around specific events, such as:

  • Fire
  • Lightning
  • Explosion
  • Earthquake
  • Aircraft
  • Impact
  • Riot and Civil Commotion
  • Storm, Tempest or Flood
  • Escae of water or oil from fixed equipment
  • Collapse of aerials
  • Theft or Attempted Theft
  • Subsidence, Ground Heave or Landslip

Even where cover is give including “Accidental Damage” or even on an “All Risks Basis” there must be a specific event, leading directly to the damage or loss. This is called the proximate cause.

Cover never includes deterioration over time, because of a lack of maintenance. If your roof gets old and leaky, or an old boiler ceases to function, don’t expect the insurers to pay. It is your responsibility to keep the property in a good condition.

Likewise, any damage caused by a “gradually operating cause” is also excluded, for instance pollution damage over several years from the local steel works.

Fundamental exclusions applying to the whole policy will always include:

  1. War
  2. Radioactive Contamination
  3. Sonic Bangs
  4. Changes in the Water Table
  5. Electronic Risks

Want some advice or guidance that is #openhonesttransparent, give us a call on 029 20 470 375 or email info@severnbay.com

Have a great day

 

Good News!

Good news!

I suppose with all the bad things going on in the word right now, it would be easy to forget all the positive aspects and the wonderful things that are also occurring.

We are blessed on this Saint David’s Day, to be living in God’s own country.

Wales is a beautiful land, green and pleasant, with cool valleys, fast flowing rivers and mountains. Yes, real ones!

We have a warm and generous people, always friendly and a real spirit of community. In business too we work “together” not against one another. Some forge ahead on their own, and that’s OK, but most successful business work to create an environment and support, that all businesses need.

This week I’m working on a large muti chain retail business, which has been based in Wales for over 140 years, as well as an award-winning chocolate manufacturer, who I guarantee you will never have heard of, even though their products are in many large retailers, such as Waitrose, Hotel Chocolate and Thorntons.

It so happens that the food industry is a big sector for us, we understand it well, we understand the challenges and are able to source first class solutions to meet their needs, so they can #justkeep going even when the worst events occur, #becauseacccidentshappen to nice people al the time.

Let’s look on the good side of life today and remember, it doesn’t matter if the glass is half full or half empty, the important thing is that it is refillable.

A Dewi Sant

And Saint David