Good morning, I’m Andrew Long from Cass Stephens Insurance.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> My children say I just talk For a living I smile: then I sigh And I always reply Actually…. I Listen I do talk about Cover and Loss, Risk and Excess Establishing How It’ll cost you less And… I can do the sums For the premiums But I’m here On a more engaging Mission I’m a broker I find The insurance you need That’s where The Listening comes in Protecting your interests Every Day So, Let’s have a chat I promise you that I won’t let The talking Get in the way. So that’s me – Andrew Long – The Insurance Man. Let’s “schedule” in a chat and perhaps you’ll then be able to “endorse” me?
0 Comments
Business Interruption or Consequential Loss Insurance; getting the indemnity Period correct.7/1/2014 Business Interruption or Consequential Loss Insurance; getting the indemnity Period correct. Business Interruption Insurance can be what stands between the collapse and the survival of your business following major loss such as a fire, flood or storm. As important as getting the sum insured right is ensuring that you have the right indemnity period for your business. This article will help you understand the factors which should influence how long a Business Interruption Insurance indemnity period your business needs. Your first consideration is to decide upon which basis you will be arranging your Business Interruption Insurance (Loss of Gross Profit, Loss of Revenue, Increased Cost of Working, Additional Increased Cost of Working etc.?) your next key decision is then to select the correct length of Maximum Indemnity Period. The Business Interruption Insurance Indemnity Period is the period during which the business’ results are affected due to the loss or damage, beginning with the date of the loss or damage and ending not later than the Maximum Indemnity Period. The Maximum Indemnity Period is stated within your Policy Schedule. Common Maximum Indemnity Periods are 12 months, 18 months, 24 months and 36 months. When deciding upon the length of the period you need to work out how long it would take your business to recover back to today’s trading levels following a Fire, Theft or Flood. Factors that you need to consider include:
Business Interruption Insurance can be a complex area. You need to get the cover basis, the sum insured and the maximum indemnity period correct to help your business to survive a major loss. I hope you have found this article useful and it will help you when considering the length of the business interruption insurance maximum indemnity period most suited to your business. Top Tips for a hassle free Christmas and New Year
I have been busy preparing for the festive season (Christmas to you and I) and as I do so, the risk manager within me always comes to the fore! I cannot help but see this time as one of increased risk and exposure with fewer precautions being taken to protect what we’ve purchased or built up over our lifetimes. I thought I’d share a few simple top tips to ensure that you and your treasured possessions are safe and with us all to enjoy another Christmas. Top Tops 1. If you have home insurance – check the cover to ensure that there is an uplift in the contents limit over periods such as Christmas. As your home is often full to the brim with the latest “must haves”, it’s worth checking that your insurance is adequate. 2. Have you checked your smoke alarms or detectors recently? If not, do it today – not tomorrow as that could be too late. If the batteries have been in longer than 6 months, replace them – a fiver or tenner spent now could make the difference between peace and chaos. 3. If you are travelling to spend Christmas with relatives – does your home insurance cover you for any loss or damage to any personal possessions away from home? Check - if you accidentally drop that i-Pad that your wealthy Aunt has just bought you, are you covered? 4. Are you planning to be away for all or part of Christmas or New Year? If so, ensure that you tell a close neighbour who can regularly check on your house, and make sure you have your lights set on timer, and leave a car on your drive – anything to make sure your house doesn’t look empty! 5 Don’t leave festive lights on all day and all night. The most common cause of house fires is due to electrical faults and issues. This could be a faulty plug or wiring or simply that the transformer has burnt out. Have a very Merry Christmas and a Prosperous and Healthy New Year! Spinning Plates It is often (some might say too often) claimed that women are able to multi-task much better than their male counterparts. This may well be true, but in today’s society which features many varied challenges and countless devices to attach to, the male of the species may be catching up. Anyway, I digress. I really wanted to share with you the experiences that a humble Insurance Broker faces behind the scenes… Even before the telephone receiver has been replaced in its cradle, or before I’ve left a client’s premises after a meeting, a plan is formulating in my mind on how to approach the challenge of providing a suitable policy (or an entire insurance programme) to meet that client’s specific needs. In fact with the more complex cases, I will have already undertaken a number of enquiries before gathering the specific risk detail, to prepare myself appropriately. With my presentation to Underwriters prepared, I may have gathered claims experience from the present or previous insurers, obtained a survey report, or a flood questionnaire (particularly relevant in Gloucestershire and Herefordshire), I then begin the task of “sounding out” Underwriters who might be interested in offering terms (i.e a quotation) for the particular case. I’ll then monitor this to ensure each insurer is working to my deadline and feedback any additional pieces of information which may assist in the assessment of risk. So why Spinning Plates? Simply because this process is going on for dozens of my clients and prospective clients simultaneously, as well as responding to Insurer queries, accounting issues, payment matters, client questions, internal queries and referrals – and all in a manner which is compliant with the various Regulations which govern the way in which I and my firm operates. For instance, we can no longer take details of a risk on the back of a cigarette packet and present to the client on a piece of paper which is hardly larger than A5! In addition to this, I have to demonstrate to my professional body and my employer that I am competent in the areas in which I conduct business. Undertaking regular study, assessment, reading of trade publications, e-learning modules, insurance seminars, regulatory lectures all find the time to fit into my diary. Professionally as well as personally, the concept of Spinning Plates is constantly a part of how I live. I thrive on being busy, with many varied, interesting, testing challenges and tasks on-going at any one time. The idea that a plate might fall, keeps me on my toes, ensuring that I give everything the greatest attention that I can. Yes, occasionally one plate might appear to be perilously close to falling to the ground, but as an Insurance bod, I have always risk-assessed the situation prior to the launch of that activity… Is there an exhibitionist inside you?
For many of us the prospect of attending an exhibition as a delegate can seem a little daunting, but the suggestion that you should exhibit can be even more scary! I have attended numerous trade shows, exhibitions, seminars and business to business events during my career, but rarely have I been directly involved in exhibiting – until now. A little over a week ago I received a call from a lovely lady who runs a series of successful Business Shows throughout the South West and Wales. I was asked whether I would consider participating in a show which was about to happen the following Friday. I swiftly passed the enquiry on to my Director, thinking that costs would prove a barrier etc. The next day the plans were in full swing, with new promotional material having been ordered, and myself and a colleague lined up to represent Cass Stephens at this event. With the idea of promoting the Insurance Broking world to the delegates and fellow attendees, I was hooked, and could not wait to get started. I had been to a networking meeting previously where I listened to a very insightful talk on the “Do’s and Don’ts” of exhibiting –so I knew not to sit down, check my ‘phone or wander aimlessly around! Within a week I was arriving at the venue at just after 7am, laden down with roller banners, business cards, flyers and smart suit to boot! My colleague arrived shortly afterwards with a box full of chocolates, pens and a fantastic bottle of Champagne for our business card draw. We both were fuelled by a heady combination of strong coffee, delicious pastries and boundless enthusiasm and energy. We were determined that it was going to be a very good day! Fast forward til around 3pm, and with the event closed and delegates dispersing, our inaugral stint as “Exhibitionists” was over. Wow! What a day – the opportunity to bring to life the reality of what we do to a captive audience had been a resounding success, and enabled us to connect with some fascination people who really understood what we were about. So for any shy business people out there who are considering showing their wares in public, I would say – GO for it!. As long as you make some simple plans, and follow a few key rules, then you’ll be fine. After all, who better is there to promote your business than you? |
Categories
All
CAP BUSINESS CLUBS BLOG
Archives
December 2018
Visit us on Facebook - We always appreciate any "Likes"
Contact us
T: 01594 723120 M: 07811 981929 Email: Here Office 3 The Main Place Old Station Way Coleford, Glos GL16 8RH |