Kennett Insurance Brokers retain Chartered Status for third year
We are happy to announce that we have retained our Chartered status for a third year by the Chartered Insurance Institute.
This means, once again we have satisfied rigorous criteria relating to professional qualifications and ethical good practice. It means you can be confident that you are dealing with one of the UK’s leading insurance brokers, which is wholly committed to providing you with the best possible advice, service and support.
With over 100,000 members, the Chartered Insurance Institute is the world’s largest professional body dedicated to the insurance, savings and financial services sector.
THANKS TO EVERYONE FOR YOUR SUPPORT
For the past 12 months we have been supporting our nominated Charity of the Year, who for the past year has been Guide Dogs. We are pleased to announce that we raised a fantastic £2170 for the them, and have recently presented them with a cheque for this amount.
The money was raised following a great effort from a number of us who cycled from Hull to Bridlington and back, named as the Tour De Brid, the route covered a distance of 100 kilometres. None of us who took part started out as keen cyclists but after many weeks of training everyone was able to complete the route.
We would like to thank everyone who donated and supported us.
Avoid those Winter Slips and Trips!
Unsurprisingly the autumn and winter seasons tend to bring an increased risk of slips and trips.
With less daylight, more leaves on pathways and cold winter spells, companies should ensure they take effective action to reduce accidents in the workplace.
Is there is enough lighting for you and your staff to be able to see and avoid any hazards at work? The easiest way to find out is to ask your staff or to shadow your employees to identify the routes they use. It is important to do this at different times of the day as the effect of light changes.
Wet and decaying leaves can create slip risks and can also serve to hide other hazards. Put in place procedures for removing leaves at regular intervals, or remove offending bushes or trees altogether.
Rainwater can cause many hazards when not properly managed.
Many slips happen at building entrances as people entering the building walk in pools of rainwater. Fitting canopies of a good size over building entrances and in the right position can help to prevent this. If a canopy is not a possibility, consider installing absorbent mats or changing the entrance flooring to one which is non-slip.
Employers should discourage people from taking shortcuts over grass or dirt which are likely to become slippery when wet. Where existing shortcuts exist, consider converting them into proper paths.
On new sites, before laying paths think about how pedestrians are likely to move around the site. Putting the path in the right place from the start may save you money in the long term.
When installing external paved areas ensure that the material chosen will not be slippery when wet.
ICE, FROST AND SNOW
Living and working in the UK means that ice, frost and snow can be an unavoidable fact of life.
To reduce the risk of slips you need to assess the risk and put in a system to manage it.
- Identify any areas most likely to be affected by ice.
- Monitor the temperature and take action whenever freezing temperatures are forecast.
- Put procedures in place to prevent icy surfaces from forming or keep pedestrians off the slippery surface. Covered walkways and putting barriers to block off existing slippery surfaces can be helpful.
Gritting can also be essential in some situations and it is relatively cheap, quick to apply and easy to spread.
Rock salt is the most commonly used grit. It can stop ice forming and cause existing ice or snow to melt.
Gritting should be carried out whenever freezing temperatures are forecast. The best times are early in the evening before the frost settles or early in the morning before employees arrive.
It is worth remembering, though, that salt does not work instantly and when it is raining heavily the salt will be washed away.
These risks may seem obvious as the days draw in, but to a busy company these can be easily overlooked. By putting these actions in place you significantly reduce any nasty mishaps the colder seasons may bring.
Tour De Brid 2016 - Charity Bike
As part of support for our Charity of the Year, Guide Dogs, a team of us have decided to do a 100km charity bike ride to raise money.
With no particular experience in long distance cycling we have all had to dust off our bikes and train hard for the event which will take place on Saturday 17th September.
We have partnered with another local business, Computanet Solutions Ltd, who will be joining us for the ride which will take in a number of small villages in East Yorkshire, from the start point at Computanet’s office on Hedon road, to the half way point at Bridlington Spa then back to our office on Priory Park West in Hessle.
Our aim is to raise £2,000 and donations can be made via our Just Giving page or by calling into our office, any donations would be greatly appreciated.
Our just giving page can be found by clicking the following link: https://www.justgiving.com/fundraising/tourdebrid2016
A guide to the Insurance Act 2015
You may have heard about a change in the law regarding insurance and wondered what it means for you and your business, this guide will hopefully help you understand it.
The new Insurance Act will come into force on 12th August 2016, and will provide a more up-to-date framework for commercial insurance in the UK, it will apply to all commercial policies taken out, renewed or amended from this date. The act focuses on fairness, transparency and certainty over the rules that govern contracts between commercial policyholders and insurers.
Currently you’re required to tell your insurer all the ‘material facts or circumstances’ they need to know about you and your business, the new act still requires you to do this but now insurers must seek clarification on anything you’ve told them which may be important to them where that information is unclear to ensure that the policy works as you would expect it to in the event of a claim.
The main changes fall into 3 areas:
1. Fair Presentation of Risk
Before taking out an insurance policy you will need to make a ‘fair presentation of the risk’ to the insurer, this basically means you have to give the insurer accurate details of matters that would affect their underwriting decision, this needs to be done in a clear and accessible manner. This will include a range of information about you and your senior management team, as well as information about your business, what it does, and how it does it. This will help Insurers better understand your business and be able to provide the widest cover to you., at this point if your insurer has any questions about your business they will ask you for more information. You don’t need to tell them information that is considered common knowledge. Your insurer will then agree to provide cover based on the information that you have given to them as well as information they have gathered themselves.
2. Proportionate remedies
This change will impact on how the policy works in the event of a claim or if a fair presentation of risk has not been made. In the past a policy may have been cancelled back to its inception date, with all claims refused, if not all material information had been given, or was incorrect, even if this was unintentional. The new act will change this, it is still vital you provide the insurer with all the correct material information, but. If you don’t’ and your failure was not deliberate or reckless, then a ‘proportionate remedy’ will apply.
If, knowing all of the necessary information from the start, the insurer would not have offered you cover, they may cancel your policy, refuse all claims and refund you premium. However, if the insurer would have still offered you the cover, based on the new information, then they must pay your claim based on the cover, premium and terms that they would have required has all the information been given at inception, with payment of the claim being proportional to the cover you actually purchased.
If the failure to give a fair presentation was found to be deliberate or reckless, the insurer has the right to cancel your policy from inception, refuse all claims and retain any premium paid.
3. How warranties work
Warranties are terms in your policy that require you to do something, for example setting your intruder alarm when your premises are closed. Previously if you had not strictly complied with a warranty then the law said your insurer was discharged from all liability. This meant that, even if you had set your burglar alarm on the day of the theft but didn’t always use it, insurers could have refused to pay the claim on the basis you had nor complied with the warranty.
The new act is much fairer, because in the same circumstances, as long as your burglar alarm was set at the time of the theft, your claim would be paid. It is important that you comply with all warranties, conditions or obligations on your policy, to ensure you benefit from the full cover of your policy.
What you need to do to comply with the Act.
- Factor in plenty of time to gather all relevant information
- Make sure senior management and staff have contributed to the information gathering so that all necessary facts are gathered and presented
- Be ready to answer any further questions from Insurers in your business and your cover
- Ensure you understand and agree with everything your broker has passed to your insurers, so any errors can be corrected.
What will Kennetts do to comply with the Act.
We feel the Act is important and will continue to work closely with you to improve our understanding of your business, as well assessing your insurance needs will also help you understand the type of information which may be relevant to disclose to ensure your obligations are met.
Aviva Insurance have produced a customer guide to help provide you with more information.
Should you wish to discuss any element of the new Insurance Act and how it will affect you, please do not hesitate to contact us.
Kennett Insurance Brokers retains Chartered Status
Kennett Insurance Brokers are extremely proud to announce that they have retained their Chartered Status for a further year by the Chartered Insurance Institute.
Kennetts have again demonstrated their high level of customer service, knowledge and expertise to the governing body.
Nick Wride, Managing Director of Kennett has said the work does not stop, and all staff will continue to improve on service to customers and levels of expertise; “This is once again a tremendous accolade for us as a local independent Broker and we will continue to strive to be even better, and continue to improve our levels of service and expertise. Our client’s deserve the very best and that is what we shall continue to give them”.
There are approximately 3,500 insurance brokers in the UK but only 161 carry the Chartered Status.
Kennett have over 40 years of knowledge and expertise. Based in Hessle, they serve the local area and are also members of the Willis Commercial Network.
New Charity Partner
We are pleased to announce that we have chosen Guide Dogs as our Charity of the Year for 2016.
There are over 180,000 people registered blind in the UK and every hour another person loses their sight, the challenges that people living with sight loss face every day are varied and the charity provides help and support as well as training guide dogs and handlers. For more information please visit their website www.guidedogs.org.uk
At Kennetts we feel it is important to give something back to the community, and we hope to hold a number of events in the forthcoming year to raise as much money as we can to help the charity.
We will update the website with news on events and activities as and when they happen.
What is Flood RE?
There are over 350,000 properties at high risk of flooding in the UK, and Flood Re is a new way to help these households source affordable home insurance and it launches on April 4th 2016.
The scheme is a joint industry/Government sponsored reinsurance fund owned the UK insurance industry. The scheme is open to all UK household insurers and provides them with an opportunity to purchase reinsurance for the flood element of an insurance policy. With insurers being able to pass the flood risk onto Flood RE they can in theory widen their appetite for such properties thereby increasing the choice of insurer for customers.
The majority of homes in high flood risk areas will be eligible for Flood RE, but there are some exceptions, these are:
- Properties built after 1st January 2009
- Blocks of flats consisting of more than 3 units
- Properties outside of England, Wales, Scotland & Northern Ireland
- Policies issued in a company name
- Let Properties
- Commercial used outbuildings
You will still buy your Household insurance in the usual way and will not deal directly with Flood RE. When the cost of the flood risk part of the policy climbs above a certain level, the Insurer will approach Flood RE and place that part of the policy on the scheme.
If you have to make a flood claim, the repair works will be managed by the insurer is the usual way, with the insurer then recover the costs from Flood RE.
If you have any questions about Flood RE and how it will affect you please do not hesitate to contact us.