Inflation and Insurance
The ongoing increases in inflation is affecting every aspect of the economy, including the insurance and poses a risk to commercial insurance holders of being under insured. Read the Lockton’s article on how rising inflation creates an underinsurance risk for details on this topic Rising inflation creates underinsurance risk | Lockton
The cost of building materials has surged over recent months. For homeowners, it’s more important than ever to check your insurance policy to ensure you’re adequately covered
The HSE has shared details of how the on-road enforcement approach used by the Driver & Vehicle Standards Agency and the police is changing on 1st May 2022, which you may find useful. The text below is from the HSE:
The fundamental principles of load security have not changed. Anything transported on or in a road-going vehicle or trailer must be secured so that it does not slide, tip, or bounce off the vehicle or move around inside it so that it affects the vehicle handling.
Employers and the self-employed whose work activities could put others at risk should consider load security in conjunction with work at height, manual handling, and other relevant issues when assessing the risks in their business.
The updated Categorisation of vehicle defects document can be accessed here: How vehicle defects are categorised in roadside checks and vehicle tests – GOV.UK (www.gov.uk)
- Palletised goods should be securely attached to the pallet and must be stable on it before they are loaded onto the vehicle or trailer and secured. A load that is fundamentally unstable can never be secured correctly.
- Loads such as poles, pipes, and boards that are loaded at an angle over the headboard of a flatbed or sided flatbed must be secured using a minimum of two loop (choke) lashings unless they are individually clamped to the headboard. It is not sufficient to use frictional lashing, where the strap passes up and over the load, as this will not necessarily prevent load movement once the vehicle is moving. Several fatal incidents have occurred where items have slid off the headboard and struck oncoming vehicles.
- Lifting equipment including lorry-mounted cranes and their attachments should not be used for load securing. Doing so risks damaging the lifting equipment, which is usually not designed to be used for this purpose.
- The gap between the front of the load and the headboard must be less than 30 cm unless additional securing has been used to prevent forward movement of the load.
- Where the vehicle or trailer structure is used as part of the load securing system, it must be constructed to BS EN 12642 XL or technical equivalent and the load must be in positive fit inside it. For heavy loads such as bricks or blocks, particularly on multi-drops, it will usually be necessary to lash the load inside the trailer and the XL rating will be a back-up in case of failure of the primary restraints.
- Loads carried in skips, bulk tippers, and any other open-topped vehicle, trailer, or container must be sheeted or netted for transport.
- Stacked empty skips must be lashed to the carrying vehicle.
- Goods carried in a bulk tipper must not be loaded over the height of the sides unless sheeted with either a rigid cover or a rated sheet that completely covers the load area.
- Goods carried in vans must be secured and a bulkhead fitted between the load compartment and the cab to prevent injury to the driver and any passenger/s in the event of the load moving forward, unless another means of preventing forward movement of equal efficacy to a bulkhead is used.
Note that in addition to the lorry-mounted crane bullet point above, specific mention of ‘crane support legs’ is made in the linked-to ‘Categorisation of vehicle defects’ document.
HSE (the Health and Safety Executive) will be visiting construction sites across the UK throughout Autumn 2021.
HSE are able to inspect sites they have not seen in the previous three months, and aim to visit sites of all types and sizes, they must however give reasonable notice in writing when they intend to carry out a formal inspection.
The HSE are the UK’s national regulator for workplace health and safety, committed to improving the health of construction workers. This year, HSE is especially focussing on respiratory risks and occupational lung disease. HSE inspectors will look at the way work is designed and planned, and the measures in place to protect workers from harmful exposure to dust. Because of the high risk, inspections will be more frequent.
https://thejournal.cii.co.uk/features/2021/10/22/flood-rising-tide FLOOD – RISING TIDE – Insurers head to COP26 with growing concerns about extreme weather risk
What do changes to the highway code mean?
On the 29th of January, a new highway code came into effect with 3 significant changes that aim to reduce the risk around vulnerable users. Such changes include:
- Drivers no longer have priority at junctions
- Cyclists can ride wherever they feel the safest / most visible ·
- The ‘Dutch Reach’ is the recommended method of vehicle exit
These changes place more responsibility on drivers of larger vehicles
Important Information for Customers to obtain flood cover
Why am I being provided with this document?
The information provided in this document is designed to improve access to obtain flood cover and to offer improved access to suitable and affordable insurance products for those in flood-prone areas.
What are the circumstances in which this could apply to me?
The following factors determine when this information is relevant to you:
- You have been offered a household policy with a flood exclusion
- You have not been offered a household policy and flood risk is the major reason cover was declined
So how can you help me?
We would like to provide you with details of the ‘Flood Insurance Directory’, which is a publicly available directory, that only lists firms that provide cover for residential buildings and/or contents insurance for consumers who are struggling to obtain flood insurance. The directory will also show you enough information about each firm listed so you can make an informed decision about which firm might meet your needs.
What are the benefits?
Some of the advantages of using the directory make it easier for you to navigate the available markets and make it more likely in finding a firm who will be able to provide the relevant cover required.
- Access to specialist providers for your needs
- The specialist’s listed have been through a vetting process
How can I access the Flood Insurance Directory?
The Flood Insurance Directory can be accessed on the BIBA website following the link below:
Telephone – 0370 950 1790 Monday to Friday 9:00AM – 5:30PM
(Speak to a dedicated team of experts who can help you to find insurance for your specific needs)
What to do against rising car thefts
In the past year, 1000 vehicles were stolen every week on average, according to recent figures*. In addition to this increasing trend, the values of the vehicles targeted have also grown to include more prestige models. To help protect your clients’ vehicles, it is vital to consider having the right type of tracker. This choice is crucial as the incorrect one could mean your client would not be covered should their vehicle be stolen. The following security options could be needed, depending on the value of the vehicles, where they’re parked and the risk of theft.
Pro-Active GPS Tracker: Uses satellite GPS (global positioning system) technology to protect your client’s vehicle. This is equivalent to the Thatcham category S7 or the old Thatcham category 6.
Automatic Driver Recognition System: Uses automatic driver recognition (ADR) technology to protect your client’s vehicle. This requires that the tracker has a separate driver ID system in addition to the keys. Therefore, if the vehicle is stolen without the driver ID, for example via replicated keys, the tracker will be activated. This would be a tracker equivalent to Thatcham category S5 or the old Thatcham category 5.
Immobilising Automatic Driver Recognition System: Similar to the above but with an active separate immobilisation circuit linked to an ADR tag. This means that without the driver ID tag, the vehicle simply will not start. Some of these systems allow the client to safely stop the vehicle remotely. These are sometimes referred to as Category S5+ Trackers.
Immobiliser Condition: As well as tracking, very high-risk vehicles may require an additional immobilising system that works independently of the tracker and factory fitted systems. This prevents the vehicle from starting regardless of if the thief has the keys or even the driver ID tag.
Click here to find top tips for preventing your client’s vehicle from being stolen.
Important Information for Customers with Pre-existing Medical Conditions
We are obliged to inform you of how to improve your access to travel insurance policies that includes cover for more serious medical conditions.
The following factors would determine when this information is relevant to you:
- You have not been offered, or we/the insurer, have declined a quotation wholly or partly due to a medical condition
- Your policy has been cancelled, wholly or partly, due to a medical condition
- You have been offered a policy with a medical condition exclusion, which cannot be removed from the policy
- You have been offered a policy with a medical condition premium of £100 or more
- You have been offered a policy in respect of which the medical condition premium is not known.
We would like to provide you with details of a ‘Medical Cover Firm Directory’, which is a publicly available directory that only lists firms that provide, or arrange, travel insurance policies that cover more serious medical conditions. The directory will also show you enough information about each firm listed so you can make an informed initial choice about which provider might meet your needs.
Some of the advantages of using the directory make it easier for you to navigate the available market and make it more likely in finding a firm who:
- Is willing to offer cover for your condition
- Is willing to offer cover for your condition without specific exclusions
- Is willing to offer cover for your condition at a more affordable price.
The Money and Pensions Service (MaPS) has launched a travel insurance directory on its Money Advice Service website which can be accessed here:https://traveldirectory.moneyadviceservice.org.uk/en
Consumer enquires about the directory can be made to the Money Advice Service’s Customer Contact Centre, which is available Monday to Friday, 8am to 6pm using the details below:
Telephone – 0800 138 7777
Email – firstname.lastname@example.org
Address – The Money Advice Service, Holborn Centre, 120 Holborn, London, EC1N 2TD
FLOOD COVER, PLEASE TALK TO US!
Flooding can be devastating to both homes and businesses, causing huge amounts of property damage along with the pain and frustration of dealing with the aftermath, which can take months to rectify. The environment agency has estimated that 2.4 million properties in England are currently at risk of river or coastal flooding, and there are an additional 3 million properties at risk of surface water flooding; 600,000 of these are at risk of both.
The devastation that flooding can cause to homes and businesses can be huge. Of the 28 million properties in the UK, more than five million are at risk of flood. On current trends up to 20,000 houses are likely to be built this year in flood risk areas.
Flood Re’s purpose is to promote the availability and affordability of flood insurance for eligible homes, while minimizing the costs of doing so, and manage, over its 25 year lifetime, the transition to risk reflective pricing for household flood insurance.
If you need any help or support with accessing insurances to include flood cover, please talk to us.