Frustrated Customer

WWW the widest choice in the world, or is it?

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When people start a business, they simply don’t know what is required and if it’s a very simple start-up, they often just go straight to the internet and start filling in online requests!

WHY?

Because they believe its where they will get the widest choice and the most competitive premium.

The problem with this is they assume that what they ask for is what they are going to get and that is not always the case!

Going online for complex financial services is simply like walking into a supermarket.

What you see on the shelves is what is available. There might be much better options on quality and price, but you will never see them.

In some cases, there is only one product and because it’s the only one they have, that is what will be put in front of you. Suitable or not!

  • No advice
  • No guidance
  • No knowledge to make an informed decision
  • No professional selection

A professional broker will give you all of these and make sure the solution is tailored to your needs, #becauseaccidentshappen to nice people all the time.

What’s more because of the wide selection of insurer’s we can approach, our price is very often better than the internet.

Professional advice and guidance at no extra cost, why would you do anything else?

Just get in touch and let us guide you through the minefield 029 20 470 375

Have a great day 😊

Severn Bay Logo

Our Unique Service Proposition.

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At Severn Bay Corporate Solutions, we arrange Continuity, Insurance and Risk Management solutions, for businesses and property owners, #becauseaccidentshappen to nice people all the time.

We TRUST you to disclose everything you know is important and you TRUST us to search out and find the best solution that meets your needs:

We will promise that:

  • All our communications will be clear and concise
  • We will get you the correct technical solution
  • At the lowest price available in the market
  • We will declare our fee up front so you can see that it is reasonable
  • We will save you up to 30% on your current spend

We will do this because we know it is the best way to GAIN or RETAIN clients for our business.

As wholly independent brokers, not tied to or beholden to any provider, we can search an extensive range of products, and tailor a solution to your specific needs.

We do that work for you, so you don’t have to waste precious time without the knowledge or experience to make value judgements about the suitability of what you purchase.

If you’d like a grown-up conversation about your requirements, one built on trust and a long-term relationship, just get in touch and speak to one of our professionally qualified advisers.

www.severnbay.com

Have a great day 😎

 

Nigel A Adams

Its serious, when it goes legal!

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If a writ arrives on your doorstep, you can’t just bury your head in the sand.

When you own property, the major concerns are dealt with by the cover for physical damage, loss of rental income and liability for injury or damage. We’ve ticked those boxes, so what next?

There are of course other events which can cause concern as a landlord.  They can result in substantial cost, because taking legal action or defending it, is never cheap. It could run into tens of thousands of pounds.

These also need consideration and insurance cover.

A landlords legal expenses policy can cover the cost associated with most of them, whilst also removing the anxiety about unknown events, #becauseaccidentshappen to nice people all the time.

Here are a few of them:

  • Breach of tenancy agreements
  • Pursuit of rent arrears
  • Eviction of tenants
  • Legal defences
  • Rent guarantees
  • Boundary issues
  • Legal advice

You can call the helpline 24 hours a day and discuss any matter that might be affecting you or your tenants. You will have peace of mind that a specialist team of lawyers will deal with these matters Immediately on your behalf.

You are never on your own.

 

Booted & Suited

It’s a building, so what’s the problem

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It can’t get up and hurt someone, or can it?

When you take out property owners insurance, in addition to the cover for the building, you get cover for your liabilities, for injury to people or damage to other people’s property.

Public liability covers members of the general public, including tenants, visitors and the like and employer’s liability takes care of people you employ, such as, gardeners, handymen and cleaners.

If someone were to trip up on a loose paving stone, or a stair carpet, then they may have a case against you for the injury sustained, private treatment and any loss of earnings. The total could run into tens of thousands of pounds.

The same applies to employees who are injured whilst doing work at your direction and would extend to and the provision of a safe working environment, PPE, scaffolding, cleaning and garden equipment.

Cover also includes damage done to property, for instance if tiles fell of a roof which had not been maintained properly and crashed down on a parked car, god forbid landing on a person.

Public liability cover is included, #becauseaccidentshappen to nice people all the time, whereas employer’s liability is optional, so check carefully.

Have a great week 😎

Various Buildings

Property Owners and Landlords take note!

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One of the simplest package policies on the market is for property owners, sometimes called landlords insurance. Everything you need in one policy. So, what is included and what is left out?

To start with you want to protect the physical structure of the building and this is done by providing cover for a specific range of “perils” such as:

  • Fire
  • Lightning
  • Aircraft
  • Explosion
  • Earthquake
  • Storm or Flood
  • Theft or attempted Theft
  • Impact
  • Escape of Water
  • Riots
  • Malicious Damage

Even with these covers there are exclusions, so it is vital you read the wording in detail #becauseaccidentshappen, to nice people all the time.

Cover is also available for “other” accidental damage, as well as subsidence, ground heave and landslip, but these are usually options, so check the detail.

Standard exclusions include: War, Radioactive contamination, Sonic Bangs, Changes in Water Table, Electronic Risks, Wear and Tear, deterioration, and any gradually operating cause.

Cover can be restricted for unoccupied property, or in the course of renovation, sale or repair.

Land for development can be covered, but for liability only.

More on property owners liabilities, business interruption and legal expenses this week.

Nigel

Is it covered?

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I once remember getting a call from a landlord who wanted to know if he was covered!

He was asking if he could claim for a new boiler because his wasn’t working any more. I asked why it wasn’t working and it transpired that it was simply old and had worn out.

I then had to explain that all insurance policies were designed to respond to defined “perils” such as Fire, Lightning, Explosion, Storm, Theft, Malicious Damage and that these events had to happen on an identifiable date.

What they are not designed to do is replace routine maintenance, or simply pay for things which have reached the end of their natural life.

Its why all policies covering damage to property always have a condition excluding damage resulting from any gradual cause, including deterioration, wear and tear.

This includes mildew, fungus, climatic or atmospheric conditions, frost, wet or dry rot.

An exclusion also exists for vermin, insects, chewing, scratching or tearing, or fouling by pets.

There are other exclusions routinely applied and in the contents section of your policy, look for “Exclusions that apply to the whole of your policy” or a similar wording.

Most of these are common sense applied to things which ae never meant to be covered, or in some circumstances where compensation would come under law, or from the government, such as sonic booms, war, or nuclear explosions.

If you’d like to know more about the detail of your policy wording, and what is and is not covered, in any particular circumstance, I’d relish the challenge!

I don’t think there is a question I can’t answer, so have a go!

Positive feelings

It’s a new dawn and a new day and I’m feeling good!

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Bet you just sung that with a southern twang?

What gets you going on a Monday morning?

For me its knowing that I can make a real difference to people who care about getting the right advice at the right time. If they are prepared to engage with me and let me find out all about their business then I can understand what they do, assess the exposures and give them the correct advice.

Now we all hope we don’t ever need to use our insurances, but in truth that’s not the real world and with no-win no-fee legal cases on the rise, sooner or later someone disgruntled individual will probably have a go at you, justified or not.

If you have valuable assets, buildings, stock, equipment and machinery, then they must be protected correctly. If they get destroyed, damaged or stolen and your insurance isn’t correct, your claim could be void and you are left holding a very expensive piece of paper.

Getting the correct advice and guidance is essential, suitability is everything and the devil is always in the detail of the wording, which to be honest most policyholders never read.

We do, so you don’t have to.

Want some good advice, free at the point of discussion. Just call 029 20 470375 or message me here.

Have a great week 😊

BIBA 2023

BIBA 2023 Manchester Central

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As a proud member of The British Insurance Brokers Association for over 40 years, and now as a board member, I can say without any hesitation that the BIBA conference in May each year, bringing brokers and insurers together in one place for three days, is one of the best and most productive weeks of the year.

This year the theme is “Rising to the Challenge” The BIBA Conference 2023 | The British Insurance Brokers’ Association

If you have annual arrangements you wish to arrange or renew, doing it at the BIBA conference each year is probably the most effective way. The range of providers present and more importantly decision makers, all in one place make for an excellent conference.

Add to that the line up of keynote speakers and sessions each year, bring everyone up to date with what’s new and emerging as well as all the legal and regulatory matters that will affect our businesses going forward over the next 3 – 5 years. If you are an insurance professional #biba2023 is the place to be.

It’s also nice to be in the middle of something which has been in planning for the last 12 months, leading directly from the manifesto which is published in January each year. In 2023 we are #managingrisk & #deliveryingstability.

Looking forward to meeting friends old and new and securing services that will directly benefit our clients going forward.

Have a great week, I know I will.

 

 

 

Building Fire

At your peril!

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Let’s Talk about Insurance basics 101 – Part 2

MATERIAL DAMAGE is the main concern of most clients in the first instance, that is damage or destruction of STUFF!

We could be talking about buildings, stock, equipment, machinery, fixtures and fittings, computers among other things, but what are the actual events for which they are covered?

These are called the PERILS!

They include:

  • Fire, Lightning, Explosion & Earthquake
  • Riot & Civil Commotion
  • Malicious damage
  • Aircraft and aerial devices
  • Impact by vehicles, animals
  • Storm or Flood
  • Theft or attempted Theft
  • Subsidence, Ground Heave or Landslip
  • Escape of water or oil from fixed appliances
  • Falling Trees
  • Accidental breakage of fixed glass
  • Breakage or collapse of television radios or aerials
  • Accidental damage to underground pipes and cables
  • Wider accidental damage
  • All Risks cover world wide

Even with the all-risks cover you must understand, that an event must occur. There has to be an identifiable event that causes the damage, destruction or loss. Gradual deterioration over time is never covered, neither is normal wear and tear or fouling by domesticated pets.

There are a few more general exclusions which include War, Nuclear Explosions, Sonic Bangs, Electronic malfunction risks and now communicable diseases. The first three, along with diseases, are all events that would be addressed by governments or existing laws as the costs and implications are too widespread for any insurer to afford.

There are of course other extensions to cover and other more specific exclusions, so always read your policy wording, understand what is or is not covered, #becauseaccidentshappen to nice people all the time.

Better still ask a professional for advice.

Have a great day.

Eyball

Will you see the unexpected?

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It’s the most important thing in business!

Well, that is what I believe, but belief is not universal.

In my world, planning for continuity is the most important aspect of any business, and I really do believe it should have a higher priority.

The reality is that apart from buying insurance most businesses pay little attention to continuity. It’s not their bag. They just want it out of the way, so they can get on with doing their thing and making money.

Clients seldom ask me detailed questions about their cover. I give them an outline explanation supported by full detailed documentation. I’m happy to go into detail and be #openhonesttransparent but they generally just don’t have the time. I truly wish they did.

Clients are unhappy when they are told they can’t claim for something, which has never been insurable and never could be, but they assumed it was. They seldom read the documents.

Good examples are matters of maintenance, like leaky roofs and worn-out boilers, as well as non-damage related business interruption claims, which have been much in the news lately.

Apart from loss of trading profit after an insured DAMAGE loss, there are  5 main extensions, they are:

  • Failure of Public Utilities
  • Physical damage at a suppliers premises
  • Physical damage at a customers premises
  • Murder death or suicide, on the premises
  • Denial of access due to surrounding property damage

If clients were willing to spend more time understanding their insurances, they would plan better for the things which aren’t insurable, and their businesses would be far more resilient in difficult times. The pandemic proved that beyond any reasonable doubt. Very few insurances had any cover, (for very good reasons) but many assumed they would be insured.

I can explain all this for clients, simply and efficiently, I just need to have a pleasant chat.

Tel: 029 20 470 375

EM: nigel@severnbay.com