Why is Terrorism Insurance So Important?
Recent changes in legislation makes it easier for SMEs to cover losses incurred as a result of a terrorist attack; but Bryan Banbury, our Managing Director, says business owners still aren’t taking the steps needed to safeguard the future of their business with less than 3% of SMEs insuring against a terrorist attack. It’s been almost two years since the horrific terror attacks in Manchester and London Bridge which claimed 30 lives. In the weeks and months that followed, the gap in insurance coverage became increasingly evident. Small and medium sized businesses were shown to be particularly vulnerable with several caught…Continue Reading
GDPR One Year On: Have Businesses Done Enough?
A year on from the introduction of GDPR, Andy Jenkins, our Operations Director; explains how many SMEs still have a long way to go to ensure compliance and protect themselves from potential fines as enforcement rates increase. The introduction of GDPR was one of the biggest raft of changes to how businesses collect, store and use data in decades. A great deal of time and effort was put in to making sure businesses were ready for the deadline and many of us were bombarded with emails asking if we were happy for companies to continue to hold our personal information. Despite…Continue Reading
Cyber Accreditation Tool Offer for SMEs
With cyberattacks becomingly more costly and targeted, we’re working with Berea to offer SMEs five free subscriptions to Cyber AMI, a new must-have tool in protecting their business from cyber threats. Further subscriptions are available at a discounted rate. Cyber AMI is a web-based business app to help small businesses obtain and maintain compliance with Cyber Essentials, the government’s risk management specification for cyber threats. Widely considered to be the minimum benchmark for cyber security, compliance with the Cyber Essentials scheme can reduce the risk of threats from the internet by 70-80%. Businesses can obtain an official Cyber Essentials certification to…Continue Reading
Contractors Face Supply Chain Exclusion if Not Cyber Secure
Complacency towards cyber security not only places contractors’ own systems at risk, but also that of suppliers and partners within their supply chain. Bryan Banbury, our Managing Director, looks at how the lack of a robust cyber security strategy places contractors at risk of being excluded from supply chains. Last year, more than two in five businesses (43%) experienced a cyber breach and with the continuing drive towards BIM, automation and more connected, collaborative working; the construction industry is increasingly vulnerable to cyber crime threats. Whilst it’s often the big brand names such as Facebook and British Airways that hit the…Continue Reading
Is AI the Future of Art?
Our Operations Director, Andy Jenkins, looks at a recent sale of a painting created by Artificial Intelligence (AI), which is causing a stir in the art world after being auctioned for hundreds of thousands of dollars. The Portrait of Edmond De Belamy by the French art collective, Obvious, was the first AI-created artwork to be auctioned at Christie’s in New York. It was expected to raise between $7,000 and $10,000, but it surpassed all expectation and eventually sold for $432,500 (roughly £330,000). The artwork has been a major talking point in the art world and raises questions about the insurance of…Continue Reading
Cyber Security Report Reveals Risks for Businesses
Cybercrime is a constant threat for businesses and can take many forms, from spam emails to compromised business networks and infected mobile phone apps. In the last year, there have been successful cyber-attacks on British Airways, the Marriott Hotel Group and Facebook, to name just a few. Our Operations Director, Andy Jenkins, takes a look at the recently published Symantec Internet Security Report which has revealed a number of interesting figures around cyber security for companies. “Cybercrime continues to be a major concern for businesses and shows no signs of abating. The MORI Cyber Security Breaches Survey found that four in…Continue Reading
Underinsurance and Why it Remains a Problem
For homeowners or commercial property owners, knowing your property is insured correctly in the event of damage or loss provides great peace of mind. However, there are still a large number of property owners, both commercial and residential, whose properties have not been valued correctly. Our Operations Director, Andy Jenkins, discusses why underinsurance occurs and what you can do about it. “Underinsurance is inadequate insurance coverage held by a policyholder which, in the event of a claim, will lead to a financial loss if the claim exceeds the maximum amount that could be paid out by the insurance policy. Put simply,…Continue Reading
Green Card Guidance For British Drivers After Brexit
Millions of British drivers have been warned they will need a Green Card when driving in the EU after Brexit. Guidance from the Association of British Insurers (ABI) and Motor Insurance Bureau (MIB) advises that UK drivers should be prepared to have a Green Card when driving in EU countries after midnight on March 29th 2019. A Green Card is an international certificate of insurance which guarantees that a motorist has the necessary third-party insurance cover, and proves they are suitably insured to drive in another country. The Department for Transport has published a guidance document confirming that if the UK…Continue Reading
Brexit – How Will it Affect Travel Insurance Cover?
The uncertainty around Britain leaving the European Union – which is scheduled just before the Easter break when millions of British people will be taking their holidays – is raising concerns about travel to Europe and what rules will apply. Here, our Operations Director, Andy Jenkins, discusses the impact of Brexit on travel insurance. Until the UK’s withdrawal agreement from the EU is finalised, there will continue to be uncertainty around travel to and from the EU after the Brexit date of 29th March 2019. If the UK leaves the EU with a deal, there will be a transition period and…Continue Reading
GDPR – There’s Still Time to Make Changes Your Business
Six months on from the introduction of General Data Protection Regulation (GDPR), our Operations Director Andy Jenkins looks at the impact of the regulations and why it’s not too late to make changes to your business. “General Data Protection Regulation (GDPR) came into force in May, running on from the Data Protection Act (DPA). It involves much more specific rules around the handling of Personally Identifiable Information (PII) and Sensitive Personal Information (SPI), the reason that such data is held and the length of time that data can be held for. There are also tougher rules in terms of how organisations…Continue Reading