Local Authorities Insurance

Local Authorities Insurance You Can Count On

As engaged members of our community, we value the impact local authorities have on our welfare. As a public entity, we want to ensure you have peace of mind as you focus on delivering benefits to your communities. We’ll work with you to provide risk management strategies and insurance while taking into account your current and future needs. We work with blue-light organisations also known as emergency services, such as police, fire service, and emergency responders. After assessing the unique circumstances and risks a local authority entity faces, we help developed a tailored insurance programme for local authorities that include:


Employers’ Liability Insurance


Employers’ liability insurance is the most common form of local authority insurance. It's for employees who are injured while at work and helps to keep you and your workers safe.


Generally, the required limit is £10 million.


Public Liability Insurance


Public liability insurance ensures you are secured for injuries to third parties. This includes members of the public, but it isn't limited to a single group as local authorities have to cover damages to third-party property for which you're legally liable.


Policy values range from £2 million minimum to £5 million as standard. However, more providers understand the need to extend public liability insurance limits to £10 million.


Medical Malpractice Insurance


For coverage for injuries as a result of a medical error or poorly administered medicines and drugs. Most authorities will only ask for this coverage if they provide nursing care. However, it's essential to include this feature as standard to cover every base.


Professional Indemnity Insurance

 

For financial losses as a result of services rendered. PI is easy to confuse with medical malpractice insurance as they overlap. But, PI is typically used for services that include:


  • Accountants
  • Insurance brokers
  • Architects
  • Any provider that offers professional advice services

Connect With Our Expert Team

With over 30 years of experience in finding the best value and comprehensive insurance solutions for our public sector clients, we look forward to partnering with local authorities.


Our specialised public sector insurance team stands ready to understand your entity’s needs, evaluate your current and emerging risks, and match you with the best insurance in the market from our extensive network of A-rated insurers.


Let’s keep your local authority organisation protected, no matter what.

What Is A Local Authority?

As straightforward as this question may sound, it's easy for organisations to misunderstand which bracket they fall under, leading them to neglect their insurance responsibilities.


A local authority is an organisation that looks after certain areas such as borough and parish councils. They are the part of the government responsible for overseeing their local area to provide services including:


  • Refuse collection
  • Social housing
  • Grants
  • Road repairs


All local services that are government-run and funded


If your responsibilities include any of the above, it's vital that you reconsider your insurance policy. It may be the case that you need local authority coverage to protect yourself from employer, public liability, or medical malpractice lawsuits.

Why Do I Need Local Authority Insurance?

For most local authorities, investing in substantial coverage is a legal requirement to protect themselves and the public. For the latter, local authorities insurance uses features such as fleet, public liability, and employers' liability insurance. The central government mandates the legal requirements for insurance cover.


Secondly, local authorities use insurance programmes provided by brokers as a risk management tool for internal protection. Also, LAI is a shield to protect the public against any unforeseen circumstances that may occur.


You can also use local authority insurance as a financial tool to ensure that you are keeping within budgets. This helps you to protect yourself against expensive risks that could halt or slow down your organisation.


More importantly, although many local authorities run under the same banner, they are all unique. As a result, each authority requires a tailored plan that is specific to their specifications and requirements. Purchasing coverage from the same source as a neighbouring organisation is a risky move as the policy may not be comprehensive. Local authorities have enough on their plate to provide the best level of service to the public without needing to worry about the financial costs.


Insurance is not just something reactive - it's supposed to support the continuity of the services you provide. If you need more information, please get in touch with the team at Forum Insurance today.


We'll outline a thorough risk management audit and set a detailed risk management solution in place to protect all aspects of your organisation. With us, you'll be proactive rather than reactive.

What's Included In Local Authority Insurance?

Local authority insurance will include everything that is outlined in the risk management consultation. You should always arrange a no-obligation meeting before investing to ensure your coverage is suitable.


Once you are happy the policy fits the requirements of the authority, inclusions usually cover:


  • Liabilities
  • Material damage
  • Indemnity
  • Machine, engineering
  • Plant
  • Travel
  • Health
  • Trustees
  • Cyber insurance
  • Commercial legal expenses


Other additions could incorporate risk management, cash flow management, and corporate governance services into your plan.

Are There Optional Extras?

Yes. Each individual parish and borough council will have specific needs. For example, your parish council may require charity insurance, whereas the neighbouring authority does not. Therefore, it's imperative that you consider add-ons that plug the gaps left by basic protection.


Risk Management


You may find it tough to decide which add-ons are essential and which ones are worth omitting. In a perfect world, you'd pay a premium for the most extensive insurance policy, yet we understand that most local authorities have budget restraints. That's why we follow the "MEAT" proposition of providing the Most Economically Advantageous Tender.


It's vital to invest in a thorough risk management process with your broker as it identifies areas of risk that could prove costly.


At Forum Insurance, we provide everything from additional risk management and reporting services to claims management enhancements. We believe our solutions enhance policies to their maximum value in conjunction with instant access document portals and low claims rebates.


Our customers also receive:


  • A 24-hour helpline
  • 24-hour claims management services
  • Fleet telematics with a mobile app
  • Commercial legal services


Our added-value benefits suit companies as you get access to our national and worldwide connections and partners designed to support your local authority.


All of our optional extras are covered in the risk management process, so if you're interested in comprehensive cover, you should arrange a free consultation now. We always carry out a risk management audit to highlight any potential risks.

How Can I Tell If My Current Coverage Is Adequate?

Because insurance variables change at a rapid pace, it's important to review your current coverage. Otherwise, you may find it isn't extensive and doesn't cover the local authority's needs. Features to watch out for are:


  • Increase or decrease in property values
  • The cost of lending
  • Up to date interest rates
  • Inflation


All of these will affect the fluctuation rate of your insurance policy fees. At the moment, the unpredictable nature of the health pandemic means your coverage may be inadequate as furloughed staff and turnover rates have impacted the wall roll massively. We estimate that your policy needs could change on a monthly basis as a direct result of the Coronavirus crisis.

What Must You Do?

With a lack of experience or expertise in the insurance industry, you may make your situation worse. Therefore, you must have a brokerage business in place that has access to a range of contacts and is up to date with the latest industry trends. When you pick a quality broker, you make sure you are kept up to date with your organisation's requirements, as well as any changes in demand or the obligation for different types of cover.


For example, cyber and terrorism cover are particularly popular right now, as is the D&O (Directors & Officers) market. It's very hard to get D&O protection because it protects against the loss created by an action of one of your managers, directors, or officers, including their death. Thankfully, Forum Insurance performs a free review of your existing coverage to analyse present or future risks.


This lets us point out any potential gaps that might open up your local authority to claims and possible legal action. But that isn't all we do. Apart from a full review of your business practices, we undertake gap analysis, rebuild values, and the property market as a whole. The rebuild assessment that we offer, for instance, is essential at this time as the likelihood is high that building expenses will rise. By closing the gap and ensuring you're adequately covered, you'll be able to recoup any losses.


Remember that the current climate means you could be open to clauses in existing dwellings that are unoccupied, such as schools and government buildings. If you've not renewed your policy recently, your cover won't be relevant, which is why a broker is crucial. Don't let the industry's volatile nature leave you vulnerable - hire Forum Insurance to point out your weak and strong points.

How Often Should You Review Your Cover?

The COVID-19 outbreak has accelerated the need to review insurance policies for local authorities as you are one of the most impacted by the pandemic. With that in mind, it's worth considering your coverage monthly or every six weeks as the environment can change quickly.


When life goes back to normal, every six months is a general rule for gauging whether it's time to search for a more comprehensive policy. Of course, this depends on the changes that have taken place within your organisation. This may encourage you to gauge your cover outside of your renewal review and inform your broker.


Our advice is to sanction an additional review outside of your renewal when the risks are greater or more complicated, for instance, landlords or standalone properties. Combined with mid-term cover analysis and the Tenancy Act, this should be enough to make sure you're fully protected.


Never hesitate to get in touch whenever there are any changes to your organisation that take place. These should include, but aren't limited to:


Taking on new properties: When you take control of a property, it must be added to your insurance coverage, or else you won't be able to make a claim. It may also void your current policy.

๏ปฟ

Buying new vehicles: The same applies to new cars as taking on properties. However, your employees or anyone who works for the authority will need to be on the vehicle's insurance policy.


Any changes in business activities: Change of business activity could make a big difference as you could promote a director with a criminal record or bankruptcy record. As a result, you need to notify your broker as insurers want information on everyone who helps the council to do business.


Even adding a secondary activity or a non-executive advisory applies.

What Are The Authority's Main Exposures?

The main risk exposures are very similar to any sort of standard business but on a larger scale. This is because you are responsible for so many more variables, which means you've got

to follow tighter regulations. Therefore, the main areas to cover are:


  • Public liabilities
  • Properties
  • Vehicle fleets


The above requires the most basic form of cover because there is a risk of damage or casualty, and anything physical or anything caused by an indirect action will leave the council vulnerable. For example, on the damage side, you have materials and buildings, and you have professional indemnities and liabilities covered on the other side. Then, depending on what type of employee benefits of staff protection you put into place, you must factor in health, travel, personal possessions, accident, or death of service.


You are exposed if you, like many other local authorities, manage features such as properties or fleets. Although it saves money, it puts extra safeguarding responsibilities on your shoulders, which is why we offer an extensive range of operational extras.


Finally, there are the financial and reputational risks involved with a lack of cash flow. Unforeseen circumstances often absorb lots of money, which is problematic when you have creditors to pay within a 60 to 90-day window. A comprehensive policy will pick up the cheque, which is why an expert brokerage is an essential tool.

How Much Does Local Authority Insurance Cost?

Size matters when it comes to council insurance because you may not have the money to buy the most suitable coverage.


The good news is that local authority insurance varies from organisation to organisation, and it's very unlikely that you will ever get two policies of the same price.


Choosing a quality broker is essential as their ability to find policies that match your budget is integral to securing quality coverage.


How Is The Price Of Local Authority Insurance Calculated?


The price will vary depending on various factors. While the exact cost of a local authority insurance policy is hard to calculate due to the many variables, insurers usually go off:


  • The level of risk involved
  • Your location
  • How the organisation is run
  • The council's size
  • The number of employees


Once your unique needs are considered, the most common ways that a public sector insurance broker would charge for risk management services are - a percentage of the premium price or an hourly rate. The latter is based on the time estimated to manage your profile.


In some circumstances, a mixture of both pricing options is used so that each client receives optimum value and comprehensive cover throughout the policy term.


At Forum Insurance, we take the time spent on adjustments made throughout each year as the organisation grows, adapts, and changes into consideration. We factor in inclusions to add further benefits of support, too. This allows us to provide tailored policies that deliver the highest level of standard.

What Should I Remember When Searching For Local Authority Insurance?

You should always schedule one-to-one contact with your broker to get a sense of which provider will offer the best deal. However, this means more than analysing the cost and the extensive nature of your policy - you must get a sense of their dedication, too.


Dedicated service and advice are just two of the solutions you'll rely on in the future as you'll need to contact the broker to help you with further queries. This may involve additional adjustments in the cover that make your coverage more extensive. Therefore, your provider needs to be available 24-hours a day to assist you in limiting any damage caused by unforeseen circumstances.


Therefore, you want to find a broker who understands local authorities and your specific sector over a larger corporation. This is due to the fact that big businesses almost always offer their standard package products without tailoring their solution to your requirements. You should look for a broker that can provide you with a structured timeline of accountability and direct points of contact to ensure delivery is of the highest standard.


Aside from a broker that will go above and beyond the call of duty to place your risk correctly, you must hire a professional team with expert knowledge of the industry. Without experience and skill, your broker won't be able to locate and secure the most suitable council insurance policies.


The areas you want refer to are:


  • Their website and blogs
  • Social media accounts
  • Subscribe to their emails
  • Take a look at their reviews


All of these mediums offer a sense of how much of an authority leader they are in the space. Only the most reputable providers regularly publish high levels of content, whether on their website or as guest posts on a separate blog.

Is The Cheapest Policy The Best? If So, Why?

The most pertinent point to remember when searching for local authority insurance cover is that the cheapest policy isn't always the best option. Have you ever bought something cheap and it actually ended up costing you more? Did you have to purchase a superior product to replace the cheap one, or did you have to get someone else to fix it? 


Concerning council insurance, wasting valuable resources isn't the only factor. The worst-case scenario is that you run the risk of not being covered. Therefore, a poor service isn't only counterproductive but prevents you from safeguarding the people who you must protect.


The least expensive coverage is often the least suitable because it will cost you more money in the long run and put you in a potentially tricky legal situation. That's why we always strive to ensure you have the best possible cover and top-rated quality service at Forum Insurance.


There are times where you would have a restricted budget to work within, which is fine as we will try our best to give you the most valuable protection possible. However, if we notice that you would be underinsured at that price point, we will advise you to think about increasing your budget as your complete protection is our number one priority.


Don't worry because we have saved many thousands for our clients by doing a thorough and legitimate risk and current insurance assessment. We do this by potentially decreasing your budget, what you have been previously quoted, or your premiums.

Why Is It Sometimes Better To Pay More For Local Authority Insurance?

The obvious answer is that the add-ons will plug any gaps left by a policy that isn't comprehensive enough. However, an element that most councils forget to factor in is how far the operational extras stretch when you are in a tight spot.


Do your staff travel regularly? That means the trip's cost needs to be covered, especially if it's company policy to use public transport. Trains are often late or cancelled, and you should be reimbursed for the delay. Business travel protects you for transportation in the UK and internationally, yet it goes so much further. Most authorities don't know this, but it can include costs relating to loss or theft of personal and business valuables, money cover, and even hotel bookings.


Of course, there is the protection offered by personal injury cover, too, should an accident happen. Plus, we can locate cover for the health and wellbeing of your staff. Whatever you need, our brokers will find it and help you add the extras to your minimum coverage.

What Can I Do To Lower My Premium?

The most important thing to remember is that the level of cover is paramount. Trying to cut your premiums is counterproductive unless you are adequately insured as you'll increase your exposure and potentially pay more.


Of course, once you're happy that your policy is extensive, you can begin to lower your premiums through risk management practices. Using telematics on your fleet, for instance, will negate potential claims as the data provides actionable insights. Alternatively, crafting wide-reaching health and safety procedures should mean your property is properly maintained and doesn't pose a risk to staff or the public.


Using your budget strategically is another excellent option, especially if your operational budget is bigger and runs out on a certain date. Self-insuring involves putting part of your resources and securing the rest from the insurer. If you balance your budget with low claims rebates, you'll still end up recouping some of the loss. We help by giving our customers £10,000 back as long the deal claims ratio is under 15%.


As a result, self-insuring through the authority's budget could reduce your premiums by a significant amount. Don't hesitate to contact us for more information on the scheme on the details of self-insurance. We always endeavour to get the best quotation for cover and premiums, whatever the method.

What's The Minimum And Maximum Local Authority Insurance Term Length?

Your length of the term is entirely up to you and your local authority as the best brokers can accommodate anything between 1 to 5 years on a standard term. Of course, there is the flexibility to set up longer agreements if necessary. Whatever you need, there is a range of options on the table to suit your requirements.


At Forum Insurance, We are also able to accommodate insurance for a day for ad-hoc cover. Usually, local authorities require such adaptability to safeguard for events or one-day vehicle insurance. You don't want to ruin the community spirit of an occasion such as a local fair by putting people's wellbeing at risk, which is why short-term add-ons are available.


Everything is set up according to your specialist needs.

Why Is It Better To Purchase Local Authority Insurance From Forum Insurance Rather Than A Large Provider?

Unfortunately, larger companies are too busy to invest in the customer experience. From our perspective, we believe that nobody should feel like a number on a spreadsheet as it's a disillusioning prospect. Instead, we aim to make our customers and clients one of the family.


How Do We Achieve This Goal?


To do this, we are structured so that our team is as agile as it is dedicated. Via this format, you can take advantage and get in touch with a team member directly at any time. Alternatively, you can come to see us or we can come to see you as we like to offer a personal touch. Not only does this strategy ensure you feel you're looked after and provided with the best level of service, but it allows us to spot issues that big insurance companies may miss. Face-to-face interaction is a personal and intimate form of communication.


We will always give you full attention and provide you with the best knowledge in the field, and that's because Forum Insurance is locally based with a focused team of professionals. Our staff is easy to get a hold of regardless of your preferred method of communication.


As well as recruiting new staff members who are knowledgeable of public sectors organisations, meaning they are specialised in your industry, we also have personal contacts throughout the UK. Their job is to assist us with any necessary advice and knowledge that we will pass on to our clients and customers. As a result, you can trust that we will get you the best result as our research and business practices are constantly updated.


Of course, our internal staff is diverse and knowledgeable as we believe in diversity in the workplace. This allows us to deal with any policy queries or questions as our team is collectively knowledgeable. Our group has built their skills through their passion and hunger to understand the insurance environment specifically for your industry.


The Independence Factor


We are independent and not tied to any one sector, and that enables us to create an ethos that isn't robotic or computerised. Rather, we are genuine brokers who are interested in helping solve your problems and won't stop until we have found a suitable compromise for all parties. We have dealings with various policies from all different industries to ensure every query is solved.


We are proud of our independence as it means we are not invested in the dealings of any other insurers or insurance groups. Too often, brokers let their relationships with providers sway the decision-making process as it suits them better. At Forum, our lack of ties with insurers is why we can provide you with the best policy.


If one premium is higher than another, you can be sure that we will always go for the best option for you, and not sacrifice your needs. Our clients come first, even before our own company's interest. Of course, you don't have to take our word for it - check out the placements on our website and online platforms. We have freedom of placement, which means our offers are more specialised, niche, and customer-focused. They reflect the spirit of our brokerage firm. We think this allows us to keep the customer at the forefront of all of our teams' minds.


Without zero financial premium targets to hit, Forum Insurance is the broker that puts our clients first before everything else - before our company, before our team, and before any financial interests.

What Makes Forum Insurance Different?

There are plenty of rival insurance companies that offer local authority insurance cover, so why should customers choose Forum? It's a good question, and one we're happy to answer.


Aside from our independent nature and the fact we treat customers like family, we try to be industry thought leaders. Therefore, we stay up to date with the latest trends, whether technological or revolve around business practices. This allows Forum to strike a balance between providing levels of service that are incredibly high while maintaining the customer experience. This is further by the fact that we place a strong emphasis on retaining clients.


Too many insurers concentrate on new customers because they believe that is the most lucrative strategy. However, we disagree as we value your loyalty and your custom. As such, you'll never feel like a faceless name or number on our books. We started from the grassroots level thirty years ago, and remember where we came from and why we started our company.


However, we don't operate in a bubble. Although we are independent, we have a large contact base to ensure our members receive a standard of service that's tough to replicate. Our relationships with Zurich, Allianz, AXA, RSA, and Aviva are healthy for this very reason.

What Are The Next Steps?

The next step is to secure comprehensive Local Authorities Insurance cover that is essential to your organisation. To do that, you can contact us via our website or email or pick up the phone.


We have tendering resources for authorities that need information on this topic, too. Even though the majority of authorities have tendering processes in place, we would like to provide everything possible to help you with a smooth process towards getting on cover.


So, don't delay - speak to one of our knowledgeable team members now to ensure your authority isn't vulnerable.

RECENT POSTs

10 Ways You Can Reduce Your Vehicle Insurance

By Niraj Mamtora • 08 Feb, 2023
With Motor Premiums up by 8% in Q4 of 2022 (ABI, Feb 2023) we’ve got the information you need to reduce your insurance premiums. The worst thing you can do is to let your car insurance policy renew automatically, shopping around is one of the best ways to get a cheaper deal on your car insurance. We always recommend taking out a fully comprehensive car insurance policy to protect yourself, your car and any third parties involved. Here are some tips to drive the cost down even further: Search For Your Quote Early The closer you get to the day you want to begin your insurance policy, the more expensive the insurance policy will be. The cheapest time to search for your insurance policy is 25 days before your renewal, this is the cheapest time to ‘lock in’ your insurance quotation price. It’s best to diary this in your personal calendar 30 days before your renewal to give you enough time. Accurately Estimate The Number Of Miles You Drive Each Year We’ve found most people don’t accurately input the number of miles they’re driving each year and often over estimate them. If you’ve owned your car for more than 1 MOT cycle you can use this government tool to check your recorded mileage at each MOT and get an estimate of how much you drive annually . If you’re a low mileage driver, consider pay-as-you-go insurance. Pay For Your Insurance Annually Paying monthly for your insurance almost always works out more expensive as you’re taking a loan, with interest added. This makes a lump sum payment always cheaper. If you can’t afford to pay for the insurance in one lump sum, a good idea is to hunt down a 0% interest credit card . Make sure you keep to the credit cards terms, that’s usually making the minimum monthly repayment and paying off the balance before the interest free period ends. Increase Your Voluntary Excess Excess is the payment you make towards an insurance claim when repairing or replacing your vehicle. Raising your excess will reduce the price of your insurance. Just be sure you can afford the excess and you. Build Your No Claims Discount/Bonus Building your No Claims Discount (sometimes called No Claims Bonus) will help you get a cheaper car insurance policy as insurers reward motorists who are claim-free with a discount. It’s worth getting a certificate from your insurer at the end of each term to keep a record of this yourself. Choose Your Add-On’s Carefully And Sometimes Separately Vehicle insurance often doesn’t come with a courtesy car, GAP insurance, breakdown or legal assist. See if you need these add-on’s for your circumstances and choose wisely. You can get the add-ons for your insurance policy separately which can work out cheaper at times. There are multiple insurers and brokers that offer them separately. Park Your Car With Care Insurers deem parking in a garage, a driveway or anywhere off the road at night time safer than parking on the street as there is less chance your vehicle will be stolen or vandalised. Avoid Modifications Modifying your vehicle can mean a big price increase for your car insurance as it can make it more attractive to thieves, the modified parts are also more expensive to replace than the original parts of your car. Choose Your Job Title Accurately The way you describe your job can affect your vehicle insurance premium. A ‘hairdresser’ and a ‘barber’ can be quoted different premiums. Be honest about your job or you can risk invalidating your insurance policy. Multi-Car Policy If you‘ve got more than one vehicle, considering adding them all onto one policy as many insurance providers will offer a discount Now that you’ve got all the tips to keep your insurance premium low you know what to do when shopping online for car insurance. One thing to keep in mind is to be honest or it invalidates your insurance policy; this includes selecting the correct main driver, the usage of the vehicle (commuting and/or business use)

Preparing Commercial Property For Severe Weather

By Niraj Mamtora • 24 Nov, 2022
Planning ahead for cold conditions There are a number of protective measures you can consider taking to help prepare your commercial property for the cold conditions, including: Have a professional plumber check your plumbing joints for leaks. Remember those which are hidden and keep an eye out for green discolouration on copper pipes – this could be a sign of a leak. Review your insulation to protect your pipes from freezing. Prevent your water supply stopcock from stiffening by testing it from time to time. Perform a comprehensive risk assessment to evaluate ice, flood and snow hazards, including large falling icicles, significant slippages of snow from sloping roofs or roof collapse from the weight of the snow. Develop your Business Continuity Plan (BCP) (Disaster Recovery Plan) to cater for winter-specific conditions. Check manufacturing processes and materials to see if they’re affected by lower temperatures. Check roofs, gutters and drains to make sure they’re in good working order. Don’t forget to follow the duties and precautions under the Work at Height Regulations even if the person carrying out the work is not your employee. Review any fire risk assessment; if you need to provide any additional or different heating, remember to inform your insurance intermediary. For the external parts of your property, consider: Implement slip-related safety measures, such as gritting or diversion to less slippery walkways. Don’t forget that hard floors in entrance areas can become very slippery during wet or snowy weather. Assess the exterior lighting around your premises; with less hours of daylight, it may be harder for people visiting you to see icy and other slippery areas. Leaving your property vacant If you’re going to leave your property vacant for an extended period of time over the winter months, it’s important to consider the following: Don’t lower the heating too much. Leave it on low at around 15°C, to prevent existing water from freezing. Alternatively, you could drain the plumbing system entirely. If you’re considering doing this, you should seek professional advice. Make sure that pipes in unheated areas, such as lofts and, where accessible, under floor spaces are insulated with high quality lagging. Insulate water tanks in lofts and unheated spaces or open-sided buildings. Have someone keep an eye on your property, who’ll be able to contact you should they find a leak. Hire a professional to check if you have a condensing type central heating boiler, which has an external condensate discharge pipe, ask them to check that the pipe is the correct minimum diameter for the model of boiler involved and that the pipe is suitably lagged. Freezing water in an unlagged external pipe could cause your boiler to stop working. In areas where extremely low temperatures can occur, your heating engineer may recommend that the pipe is also electrically trace heated. Watch out for frozen pipes Tell-tale signs of a frozen pipe include no water coming from the tap, frost or ice on the outside of the pipe and if the pipe appears to be bulging. However, a frozen pipe doesn’t necessarily mean a disaster, if you act quickly enough. If you discover a water pipe which is frozen but has not burst, take the following steps to prevent it from bursting and protect your possessions: Turn off the stopcock. Remove any furniture or equipment in the area which may get damaged by any leaking or escaping water, where safe and practical to do so. Open the tap closest to the area and begin gently warming the pipe with a hairdryer or hot water bottle, starting from the end closest to the tap and working away from the faucet. ๏ปฟ Don’t forget any outdoor taps – it may be worth insulating these to prevent water from freezing inside the cavity wall and causing an escape of water. Although pipes are inevitably damaged when they freeze, it’s only possible to see bursts when the pipe begins to thaw. If it is apparent that a pipe in your property has burst, you should: Turn off the stopcock and drain the system by opening taps in baths and sinks. Switch off your heating and, if in doubt, your electricity at the mains. Contact your plumber immediately. If possible, once the leak has been fixed, make sure you air the affected parts of the property by leaving windows and doors open. This content is by no means exhaustive and is for guidance purposes only. It’s not intended to amount to advice on which reliance should be placed. For requirements specific to your business, please seek professional advice.

Preparing Vehicles For Severe Weather

By Niraj Mamtora • 17 Nov, 2022
Driving in the dark Driving is significantly different in the dark and, without the correct safety precautions, potentially hazardous. At night, vision is reduced, making it much harder to see signs and other road users, such as pedestrians and cyclists. There are several things you can do to ensure your visibility isn’t compromised, including: Checking your lights to make sure all lights in and outside your vehicle are fully functioning. Driving slower than usual, as poor visibility means you may not see another road user or a hazard until the last few seconds. Driving at a slower speed not only means you have more time to see what’s in front of you but also more time to react. Taking regular breaks in night conditions, as the risk of falling asleep at the wheel is also greater. If driving at night is unavoidable, make sure you take regular, planned breaks and if you feel tired, stop and find somewhere safe to rest. Prepare ahead There’s no better time for a service than in the approach to winter. If a service isn’t possible, you can carry out your own tests. This should include: Routinely checking the concentration of antifreeze in the coolant system and bringing it back to the correct winter level. Making sure the windscreen and wiper blades are in working order and that the screen wash is topped up. Checking all lights are working and replacing any faulty bulbs immediately. Checking the car battery and replacing it at the first sign of trouble. Checking that the brakes are working well. Checking the tyres for any damage to the tyre walls such as cuts, cracks or bulges. These should be dealt with immediately as they could lead to slow punctures or blow-outs at high speeds. You should have a minimum tread depth of 3mm and anything less than 2mm remaining on a tyre should be replaced immediately. Never under-inflate your tyres – it’s a myth that a softer tyre means better grip. It may be worth installing winter/all season tyres. These are tyres that are specifically designed to give increased grip in winter conditions. In instances of particularly extreme winter weather, snow chains are also worth consideration. Please note that any tyre enhancements must be fitted to the manufacturer’s standard. Putting together an emergency kit It’s a good idea to put together a winter emergency kit, in case of breakdown in the winter months. You can have peace of mind knowing that you’re prepared for the worst by stocking your vehicles with the following items: Ice scraper and de-icer spray Powerful torch with spare batteries Reflective triangle First aid kit Warm clothing, wellington or other boots, blankets and/or a sleeping bag Insurance and broker documents, including any contact information for emergency claim hotlines Bottled water and non-perishable foods Jump leads Snow shovel Sat nav and maps Fully charged mobile phone(s), charger lead and auxiliary battery. Before you set off When setting off for a journey in severe conditions, make sure you: Decide if the journey can be postponed. If you are an employer then you must follow the legal duties relating to employee safety. You should consider the age and experience of your employees when it comes to making decisions about driving in potentially severe weather conditions, particularly if they will be alone. Check weather forecast and travel bulletins before leaving. Give yourself extra time for your journey and stick to main roads, where possible. Have plenty of fuel in the vehicle. In severe weather there may be less filling stations open for business. Always let someone know where you are going and when you expect to arrive. Use gentle manoeuvres, especially when braking. Be cautious with all road surfaces, even if they have been treated. Remember that stopping distances will be considerably longer in wet and icy conditions. Always try to pull away in second gear and select a higher gear such as third or fourth for travelling downhill. In the event of skidding, depress the clutch, steer into the skid and avoid the temptation to brake forcefully. Remember black ice can appear to just be a wet patch, so proceed with caution.

Why Does Running A Business From Home Affect My Home Insurance?

By Niraj Mamtora • 11 Oct, 2022
Having a home based business is a brilliant move, it saves you money on a costly office/work space, it allows you to work odd hours with peace and quiet (hopefully) and saves stress and money on commuting. Many entrepreneurs, start-up businesses or side hustles operate from home, but how does this impact your home insurance? Running a business from home can also increase the level of risk to your property and your contents, which is why you need to make sure you have the right business at home insurance in place. What additional risks are there when running a business at home? It will largely depend on the type of business you run and the types of activities you are undertaking, but essentially running a business from home will increase the risk of loss occurring to your buildings and contents. Some of the elements you need to consider when running your business from home are below Stock If you run a business that requires you to hold stock at your home, this can put your property at increased risk of a break-in and theft. It will also increase the amount an insurer would have to pay out in the event of a fire or flood, and the resulting damage to any stock. Your insurer would need to know if you hold stock at the premises as this is not covered under standard contents insurance. Business Equipment Again, you may have expensive or additional equipment you use for your business such as desktop computers, laptops or specialist machinery. Your insurer will need to know about any computers, laptops, or specialist machinery you have at home in the event that they need replacing due to loss or damage. Usually, if you’re just performing a clerical role from your home with a laptop/PC that doesn’t impact your home insurance. Just make sure these items are covered by the employer’s business insurance – this will avoid hefty replacement/repair costs for a cracked screen, or if you spill a drink on your keyboard. Public Liability If you run the type of business that has customers or suppliers visiting, there is an increased risk of someone injuring themselves at your property. The more visitors, the greater this risk becomes. Accidents or injuries to members of the public while at your property could result in liability claims and would only be covered if you have the correct insurance in place. It is advisable for your business to have its own public liability cover in place, as home insurance providers will often ask you to confirm you have this covered. Your home insurance will likely have limitations, exclusions or conditions will often apply within the home insurance policy. What information will I have to provide to get a quote? The first step to purchasing home business home insurance is to get in touch with a specialist home insurance provider. What kind of business do you run and what it involves? For example, are you doing clerical work or production e.g. making curtains? What equipment do you use, such as a laptop, machinery or specialist equipment If you hold stock in your home and its value If you have business visitors, such as customers or suppliers, and the frequency of those visits If you have a separate business liability policy in place How much is home business home insurance? There is no clear answer for what you’ll be paying, but this is good news! As the risk factors vary between the nature of the work, business equipment, stock and if you have visitors your insurance cover will be tailored to your unique circumstances. This means you’ll be correctly covered and not overpaying for your insurance. What is not covered? As home business home insurance is not the same as business insurance, there are a few covers which will not be covered: Public Liability Insurance Public liability insurance protects your business against compensation claims and their legal costs if you cause injury (including death) to a third party or damage to their property. Public liability insurance covers you on your premises and working off-site. Professional Indemnity Insurance Professional Indemnity Insurance provides cover for legal costs and expenses incurred in your defence, as well as any damages or costs that may be awarded if you’re alleged to have provided inadequate advice, services or designs that cause your client to lose money. Employer’s Liability Insurance This cover is compulsory if you have any employees (including any volunteers or apprentices). This is to ensure you can meet the costs of compensation for your employees’ injuries or illnesses, whether caused on or off-site. What’s Next? By now you will know if your home insurance is impacted by you running a business from home. Your next point of call will be to find an experienced insurance broker to provide you with the right advice on what types and cover you should have. Luckily you can contact your Forum Insurance account executive, email at info@foruminsurance.com or call us on 0208 909 2899 . We will then search the insurance market so you don’t have to, this secures you the best cover, policy wording and insurance premium. ๏ปฟ

How Insurance Can Support Landlords During the Cost of Living Crisis

By Niraj Mamtora • 10 Aug, 2022
With inflation going up at a faster rate than usual, everyone feels the effects of prices rising across the board. And with inflation currently at 8.2% ( ONS July 2022 ) and the Bank of England already predicting it could rise to 10 per cent, landlords and tenants alike are feeling the financial squeeze. As a landlord, with your own costs unavoidably increasing, it should be a priority to make sure that rental income keeps arriving in your account each month. But what if your tenants are struggling to make rent payments because their take-home pay simply isn’t stretching as far as it used to, thanks to spiralling utility bills, fuel and food costs? Loss of Rent Insurance There are two types of rent insurance you can secure: Loss of Rent Loss of rent due to an insured event, such as a flood at the property. With loss of rent, if the tenant has to move out, the insurer will cover both the cost of repairs and lost rent for the period of time the property is uninhabitable. Rent Guarantee Rent guarantee insurance gives you peace of mind that if your tenants default, you’ll continue to receive the full rent amount each month (up to a specified limit). This will protect you, whatever happens to your tenant’s finances. There are different types of cover and limits, we can advise what is best for you on this. We have a panel of insurers that offer rent guarantee protection as a separate policy. Although terms and cover will vary, most policies include: Rent paid in full each month if the tenant defaults (commonly for up to either 12 or 15 months of the rental contract, to a maximum total of £50,000) Cover for the cost of evicting the tenant and regaining possession of your property Cover for damage caused by tenants or their visitors Your landlord insurance policy can also help protect your profits by making sure you’re not left out of pocket if your tenants cause damage to your property – whether deliberate or accidental. Whether we like it or not, damage to a property happens through burglaries, burst pipes, malicious damage, storms, fire and flooding. While you may be able to make a deduction from the tenant’s deposit for small costs, if it costs much more than the amount held or there’s any issue with retaining funds, it’s good to know that your insurance policy has you covered. For those in doubt, help is at hand To find out how loss of rent insurance can help you, please contact your Forum Insurance account executive, email info@foruminsurance.com or call us on 0208 909 2899 .

Five Steps To File An Insurance Claim For Your Business

By Niraj Mamtora • 18 May, 2022
Five Steps To Navigate An Insurance Claim
Meet the UK's top 50 petrol station owners - Top 50 indies

Meet The UK's Top 50 Petrol Station Owners - Top 50 Indies

By Niraj Mamtora • 04 May, 2022
Uncover how UK's Top 50 Forecourt Owners thrived amid Covid-19 and fuel shortages. Valuable insights from The Belfry event highlight expansions and EV opportunities!

Spring Event 2022 - Round-up

By Niraj Mamtora • 04 May, 2022
On the 17 th March 2022 we attended the the Eastside Rooms in Birmingham for the inaugural Hedron Network Spring Event. It was a celebration in many respects, of the first conference as Hedron Network, the first time many people had met face-to-face, and – of course – St Patrick’s Day! The day kicked off with David Hopwood, CEO of the Hedron Network, recognising the challenging time that the insurance industry has endured; hardening market, Brexit, consolidation, COVID-19, and Business Interruption claims to name but a few. It was also recognised and applauded that as partner brokers, our response was quicker and better than much bigger businesses with many more resources. David referenced the recent news of Brown & Brown’s acquisition of GRP, Hedron’s parent company, and the collective optimism within the Network for what the future holds under this new ownership. David also commented that to remain competitive, brokers need to evolve, embrace change, and to focus on their strengths, working with partners to provide support and agility. He went on to stress the importance of collaboration and everybody pulling in the same direction, and this was certainly evident throughout the day, where the collaboration between providers and brokers alike contributed to the success of the event. David called for insurers to “step up” to meet the core broker demands of better access to decision makers, improved service levels, and trading flexibility that were identified in the recent broker survey. Speed Dating This is a cornerstone of Network events with some more experienced “speed daters” than others taking part. A strict 14-minute window ensured conversations between us and insurers were to the point. It was amazing how much can get done in such little time! Meetings were held between insurers and the members of Forum Insurance , Barry, Amish, Bhavik, and Robert. I did not attend any of the meetings but as an observer, it was great to see the hustle and bustle of new connections being made, current relationships being developed, and some fantastic trading opportunities being discussed. All of these conversations were aimed at look after our clients by sitting down with our current insurers and adding new insurers to our panel. Expo With 48 insurers and providers exhibiting, it was a room full of the “who’s who” from the insurance sector, ready and armed with the usual high standard of branded goodies on the stands we’ve come to expect! Systems were demonstrated, appetites shared, benefits conveyed, frank conversations had, and some new relationships set up there and then. Insurers, service providers, brokers, and Hedron staff all participated with genuine enthusiasm to make it an incredibly productive day of networking for Forum Insurance. Afternoon After enjoying lunch courtesy of Allianz, the afternoon got underway with two punchy presentations focused on the impact of inflation. First up was Steve Good from Allianz who spoke about the drivers of inflation and the impact from an insurer perspective. Supply chain issues, emanating from a combination of COVID and Brexit were driving up both costs and reinstatement periods. In commercial property, claims inflation was being fuelled by steep rises in both material and labour costs. Weather-related losses have also seen an increase in frequency and volatility. Brokers were encouraged to review sums insured with clients and get RICS valuations. BI indemnity periods should also be reviewed to allow for current circumstances, you can read more here . Will Molland from Rebuild Cost Assessment then took to the stage to explain some of the specific challenges that the UK construction industry is confronted with. He indicated that c. 500,000 workers had left the sector as a result of Brexit, added to the long standing employment issues that the sector was wrestling with. Will shared some jaw-dropping increases being experienced in raw materials with wood, steel, and bricks leading the way. Accelerating energy costs were adding fuel to the flames prompting the question - The cost of energy security? In summary, inflation is a major concern now and shows no signs of slowing down in the near future. You can find out the importance of getting a report at a discounted rate here . Armed with the knowledge of the afternoon presentations and the confidence from the morning’s networking, we re-engaged for a full afternoon of networking and speed dating. It was a very engaging session and invaluable to speak directly to key decision makers. As the day drew to a close and jaws and feet ached in equal measure, the Guinness Bar opened and the sponsoring Miles Smith team handed out much needed refreshments as a reward for a job well done and to toast St Patrick’s Day. The Guinness flowed as fluently as the conversations had all day. Evening After a quick turnaround to freshen up, we re-grouped for pre-dinner drinks, kindly sponsored by NMU and a chance to catch up with friends and contacts. The room was absolutely buzzing with conversation. And so, with the completion of our first event with the Hedron network in years we came back to the office with stronger relationships with insurers and increased knowledge about risks you could potentially face.We have certainly taken a big step forwards and will continue at BIBA 2022. Photo gallery below: ๏ปฟ

The Importance of Business Interruption Insurance

By Niraj Mamtora • 29 Apr, 2022
Unexpected business interruptions can be financially devastating. Fortunately, there’s a way to prepare for them. The two most common forms of business interruption are fire and flood. Unfortunately, statistics are showing a trend towards increased rainfall in the UK. According to the Met Office, the UK was an average of 6 per cent wetter over the last 30 years (1991-2020) compared to the 30 before that. Flooding remains a risk to businesses, but not only from rainfall, as events like a burst water pipe can be just as problematic. A flooded building can take between two and six months to dry out and become habitable. While building and content insurance policies will cover the initial damage, businesses must consider how they’ll cover financial losses while unable to trade. This is where business interruption (BI) insurance comes in. During the recovery from an interruption, a business may be unable to operate whilst leads to a loss in revenue. This downtime, in turn, may result in the loss of irreplaceable staff and valuable customers. To minimise this risk, a business would benefit from trading at a temporary location while their main premises is repaired. Yet, traditional buildings insurance doesn’t tend to cover this move or the associated loss of income. BI policies can be added to building and content policies to fill this void. Policies can include: Compensation for lost income while the business is out of action and gross profits that would have been earned had the major event not occurred Operating expenses incurred , such as utilities and rent, even though the business has temporarily ceased Compensation for the increased cost of working , including the expenses of operating in a temporary location while repairs to the permanent premises are completed Help towards the cost of the employee payrol l BI insurance can be a lifeline for businesses in the event of a disaster. Businesses can feel safe knowing that they’ve prepared for the worst by adding BI insurance to their existing policies. Contact us today to find out more. Commercial Building Maintenance Tips There is never a better time than now for a commercial business to check make sure their buildings are properly maintained. Businesses should consider these commercial building maintenance tips: Routine maintenance checks — Pipework, boiler and plumbing systems should be regularly inspected year-round. These checks become even more important because a failure in one of these systems – eg not having hot water – will impact both customers and employees. Electrical analysis — Electronic components and appliances should be checked thoroughly to make sure they’re working safely and don’t present any risks. The review should include electrical switches, sockets and fuse boxes. Finding any cracks or signs of deterioration early will allow a business to correct the problem before it gets worse, saving time and money in the long run. Roof and gutter inspection — A thorough roof inspection will allow businesses to spot potential structural issues early and ensure gutters are free from debris. Intense rain spells—more likely with global warming —make it easier for gutters to become clogged, causing rotting and water damage to the fascia board. Flooding preparation — According to the Environment Agency, 1 in 6 properties in England (around 5.2 million properties) are at risk of flooding. Businesses should check if their insurance policy covers flood damage and consider how best to mitigate risk (eg storing stock above flood level). Alarm check — Businesses should examine and service any fire and burglar alarms to ensure they’re secure and protected. Though planning for a disaster is a lot of work, cleaning up after one is worse. Proper maintenance allows a commercial business to spot potential problems early and take action. Paying attention to regular maintenance will help a business avoid unnecessary costs down the line and ensure safety and security to its employees and customers. For those in doubt, help is at hand To find out how business interruption insurance can help your business, please contact your Forum Insurance account executive or email info@foruminsurance.com .

Rising Building Costs Bring Underinsurance Risk

By Niraj Mamtora • 22 Apr, 2022
For property owners and investors – buildings insurance should provide a crucial safety net, protecting property assets against unforeseen events. It should step in to cover the cost of repairs or rebuilding work after an insured event like fire or flood, but for all too many property owners, across domestic and commercial property that vital protection may not be all it seems. In fact, recent research has found that 80% of UK properties are underinsured – to put that in context, that’s around 587,000 high net worth homes and commercial property with a total value of £340 billion standing without adequate buildings insurance. What’s more, those numbers are heading in the wrong direction, having risen from 580,000 and £325 billion respectively in the space of 12 months. Disastrous outcomes This insurance gap is not something that any property owner or investor can afford to ignore, because it can have a significant financial impact if the time comes to make a claim. Research tells us that on average, underinsured buildings are covered for just 68% of the amount they should be. In practice that could lead to two potentially disastrous outcomes in the event of a claim. First, the insurer could apply a ‘Condition of Average’, a clause in many building insurance contracts that enables insurers to reduce claims on underinsured properties by the corresponding percentage. For example, a property owner claiming £100,000 to cover repair or rebuild work after an insured incident could only receive £68,000 in settlement if only 68% of the property value is covered by insurance. Second, and even worse, in significant cases of underinsurance, the insurer could even say that the policy is void as the client failed in their duty of fair presentation under the Insurance Act – and remember, it is the responsibility of the property owner to ensure that valuations provided for insurance purposes are accurate. So what is behind this alarming trend? It boils down to a number of issues. Inaccurate property valuations There is a common misconception that a property’s market value and its insurance value are interchangeable. In reality, an insurance valuation refers to the cost of rebuilding a property, which would include a range of costs not covered by a market valuation. They include materials and labour, but also the cost of site access and the rebuild value of areas surrounding the property, such as car parks, outbuildings, or trees. The bottom line is that a property value for insurance purposes must mirror the definition of buildings set out in the policy. Rising construction costs To make matters worse, even buildings that were accurately valued when a policy was taken out may be tipping over into underinsurance now, because of steep rises in the cost of building materials and labour. Clearly, that means the situation is worsening for any property that is already underinsured due to an inaccurate valuation. The facts are stark. Pent up construction demand built up during COVID-19 lockdowns, along with the effect of Brexit on EU imports and the loss of around 1.5 million foreign workers since the beginning of 2020 have driven construction prices up by as much as 15% in 2021. Meanwhile, price rises for specific building materials have been even higher – timber prices have risen by 20-50%, while the cost of sheet materials like oriented strand board has more than doubled. At the same time, heightened demand for construction materials overseas has also extended lead times for virtually all materials, which may again add costs to a building works. Indexing and day one uplifts lagging behind? It would be easy to assume that property owners are insulated against these rising costs by inflation indexing for residential property and day one uplift clauses in commercial buildings insurance, both of which are designed to defend against the impact of inflation on rebuild costs. However, with building material cost increases far outstripping baseline inflation and the retail price index, this may be a false sense of security - because an inflation linked uplift in cover will almost certainly fall short of the actual increase driven by material and labour costs. Act now to address underinsurance The bottom line, according to the research, is that 80% of UK properties are underinsured and those properties are on average only insured for 68% of the true value. With that in mind, property owners – particularly high net worth residential and commercial properties – should act now to review buildings insurance policies, paying particular attention to the accuracy of rebuild costs and sums insured. For those in doubt, help is at hand To find out the reinstatement value of your property, or any other information about our services, please contact your Forum Insurance account executive or email info@foruminsurance.com . At Forum Insurance we work with RebuildCostASSESSMENT to offer our clients the peace of mind that comes with accurate insurance valuations based on multiple data sources.
Show More
Share by: