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If you need buildings cover over £1 million and contents cover for over £100,000, then you are likely to need high net worth insurance.

You may be surprised at how easy it is to fall into this bracket of insurance when calculating your cover. If you factor in buildings and outbuildings, boats, prestige cars plus any holiday homes, you could find yourself within the realms of high net worth individuals.

Inherited property, jewellery and antiques could also take you into higher insurance cover to help protect your family heirlooms for the next generation.

Private clients
High net worth insurance policies can be tailored to individual requirements. You can cover home, cars, overseas travel, personal protection and include the whole family under one insurance policy. This will save you time when you come to renew your annual insurance policies.

As a private client you can also request an internal survey to assess some of the risks in your property, obtain an accurate valuation of your possessions and get security advice.

High net worth house insurance
High-net-worth-home-floodedAs one of your most expensive and important assets, making sure your home is adequately covered for insured risks and giving you peace of mind is paramount when choosing your insurance provider.

Using an insurance broker to guide you through the maze of risks and providing advice on valuations will take a lot of the guesswork out of choosing a provider to match your particular risks.

One of the most common insurance claims is for escape of water. This presents a greater risk to our high net worth clients because of the damage that can be caused to expensive fixtures, fittings and personal contents. There is usually a larger area that water damage can affect and you will probably have more bathrooms and possibly underfloor heating which both increase the risk of a water leak even further.

The Association of British Insurers report that in the space of 3 years water claims rose from £529m to £654m.

Leaks are commonly caused by water pipes corroding, particularly in older properties. Pipework is often hidden and difficult to inspect so there are often no warning signs before a leak occurs. Even a small hole in a pipe, if it goes unnoticed, can cause thousands of pounds worth of damage to the fabric of the building and expensive carpets, furniture and electrical equipment.

The risks are greater if you own a second home or are likely to leave your main residence vacant for long periods, especially over the winter months.

One policy
To find out how you can benefit from high net worth insurance and combine your multiple policies into one cover to include house, prestige cars, overseas travel and even your children’s possessions while at university, call your local insurance broker CLA (Risk Solutions) on 0121 321 4600.
Prestige-car-door-being-openedKeyless car theft in the UK is on the rise. The latest remote keyless car entry systems enable drivers to unlock car doors and start the engine “hands free” when they are near the car. It is not just prestige cars that use this method of entry; many new small saloon and SUVs incorporate this technology alongside other clever features such as a kick boot.

The increase in thefts of vehicles fitted with these systems is because criminals can use devices that boost the signal from a key lying inside the house to trick the vehicle into thinking the key is nearby, allowing them to enter and start the car.

The German testing body ADAC has found that 99% of the 237 cars it tested were vulnerable to theft using this keyless system.

Some insurers are refusing to pay out if thieves use these devices to break into your car. This is because most car insurance policies will not cover claims if keys are left in or around the car.  If there is no sign of forced entry, you may find your claim is rejected.  Check that you are fully covered for this type of theft with your insurer.

What you can do to minimise keyless car theft
Some manufacturers have implemented ways of preventing this type of theft by supplying keys that turn themselves off when not being used either automatically or by the user pressing or holding down a button on the key fob. A shielding pouch can also be used to store the keys when not in use which blocks signals from the boosting devices used by thieves.

Practical advice is to store keys well away from doors and windows near the car and as far away from house entry points as possible. Fitting a steering wheel lock is another method of deterring this type of theft.

Looking into the future, manufacturers are working on replacing keys with a smartphone app. This will register users to a central database and enable owners to use their phones to unlock and start their cars.

Other advantages of using the app will be the ability to share cars with family members using their own smartphones. It may also be possible to control the cars speed and even volume of music even when you are not driving the car yourself.

With more technology being built into new models, especially prestige and luxury cars, it is more important than ever to make sure your insurance provider is keeping up with the new technology to keep you fully insured.

High net worth insurance
Online comparison sites and standard insurance policies do not always provide the level of insurance cover needed for some expensive modern cars. Often packed with a high level of technical specification and high value components, you may find your prestige car needs a higher level of insurance cover.

It is not just about replacement or repair costs; you may have a preferred garage for repairs and need the use of a replacement car of equal value when you have to make a claim.

A high net worth insurance policy can provide a range of benefits including cover for your home, leisure craft and travel insurance all under one policy tailored to your individual needs.

To make sure all your possessions are fully covered, talk to your local insurance broker in Sutton Coldfield, CLA Risk Solutions on 0121 321 4600.

Surgeries_insurance_1Visit a modern medical centre, dental practice or veterinary surgery and the variety of equipment needed to operate effectively is staggering; dental chairs, devices such a nebulisers, defibrillators and sterilisers plus all the specialist instruments. Vets have even more equipment to meet the needs of a wide variety of animals; from scanners and X-ray imaging to dental equipment.

Equipment in modern surgeries is expensive and that is before other items such as computers, phone systems, furniture and security is considered.

Many medical practices have combined into larger health centres to provide a more comprehensive service to patients. The result is a much larger building, more staff and an increase in the number of patients. Minor surgeries and implants can now be done by the most modern medical centres saving trips to the local hospital.

With technological advancements, equipment such as lasers are expected to become increasingly popular with dentists for producing crowns, bridges and models using 3D printing.

Veterinary surgeries or hospitals will be caring for animals in their custody, possibly overnight.
When considering insurance cover, a one size fits all is not going to give you the protection needed for your individual surgery.

Using an experienced broker will give you access to providers who can tailor a policy to ensure you are adequately covered if you need to make a claim so you can recover the full value of a loss.

Tailored insurance for your practice
As well as covering all your expensive equipment and buildings, you will need to consider loss or damage to drugs and vaccines which are often refrigerated.

Because your surgery is used by the general public of all ages, some of which may vulnerable to accidents whilst visiting your building, higher limits of public liability insurance may be needed.

Business interruption insurance
This would cover loss of income if the surgery had to be closed due to fire or flood. It will also cover temporary costs while you get back up and running such as:
  • Additional staff
  • Relocation
  • Security
Cyber Crime insurance
Cyber attacks are particularly high with medical centres and healthcare practices vulnerable to more attacks than most other sectors.

With highly confidential patient records being valuable to hackers who can sell them on the black market, your practice will need cover for a variety of risks that you could be exposed to such as recovering your computer systems, security experts to support your team, compensation claims and managing any negative publicity.

To make sure your surgery is protected from the risks involved in running a busy medical, dental or veterinary practice, call one of our account managers on 0121 321 4600.
Do a search on Google for telematics insurance and you will find most of the large insurers and price comparison sites also refer to it as black box insurance. These insurance policies are aimed at individual car drivers aiming to save money on their insurance premiums by having their driving monitored.

Telematics_insuranceCarry out some more research and you will find that telematics covers much more than that and includes a range of clever devices combined with vehicle and driver management to help company fleet operators manage their fleets more efficiently, safely and profitably.

Working with your insurance provider or insurance broker you can implement a strategy for your business that will keep your vehicles on the road, provide a better service to your clients and reduce your insurance claims and costs.

Telematics devices
A computer (black box) is installed in your fleet vehicles to monitor everything from vehicle location, speed, braking, engine idling and fuel consumption. Using this information allows fleet owners to build up a picture of driver behaviour. By monitoring all the information from the black box, improvements can be made to increase efficiency.

The device includes a GPS (global positioning system) that tracks your vehicle. This helps with route planning, vehicle availability and communication of arrival times. This is particularly useful if your vehicles must be at destinations at specific times. The construction sector is a typical example, where movement of materials is crucial to keep sites supplied. Disruptions can be monitored, breakdown assistance quickly dealt with and clients kept informed.

A complete record of the vehicle trip history is stored, helping fleet owners to manage maintenance and keep the vehicle working at maximum efficiency.

Developing better driving habits
Monitoring driver habits can be useful to identify areas of training needed to improve driver behaviour and safety.

Driver assessment and risk management can then be carried out providing feedback on how they are driving and carrying out their other duties compared to colleagues and industry best practice including any regulatory requirements.

Vehicle security
Telematics can be used to locate a vehicle if it is stolen or being used for unauthorised purposes outside normal working hours.

The device will also provide information if one of your vehicles is involved in a road accident and it can be integrated with CCTV cameras to provide footage of the incident and identify who was at fault.

Vehicle cameras
CCTV cameras provide additional information to fleet owners to support the information being provided by the telematics system.

Showing drivers footage of their driving from inside and outside the cab can be an effective training tool, helping to reduce accidents and improve driving efficiency.

The other benefit of having 360-degree coverage with cameras is the ability to record actions of other road users. Insurance claims can be dealt with quickly because it is easier to establish who is responsible, getting your vehicle back on the road faster. Fraudulent claims against your drivers can be robustly defended using the video footage, for example, if a driver is claiming whiplash injury after a collision with one of your vehicles and it subsequently comes to light that your vehicle was travelling at less than 5 mph.

Using telematics, haulage companies have found they can substantially reduce the number of accidents and claims across their fleet by monitoring and improving driver habits.

If you would like to discuss how our telematics cover which encompasses driver assessment, fleet management, mobile data, risk management and vehicle tracking can help your business fleet, please call 0121 321 4600.
Fork_lift_loading_haulage_truckHaulage companies and owners of HGV fleets understand the importance of risk management planning to improve health and safety for drivers, customers, other road users and their own financial security.

The time and effort taken to put in place proper procedures and training will provide long term benefits including:
  • Safer loading and unloading
  • Safer driving leading to a reduction in accidents and vehicle maintenance
  • Fewer prosecutions and related costs
  • Meet legal requirements
  • Lower insurance premiums
According to the Health and Safety Executive (HSE), almost all deaths arise from just four kinds of accident, most often during loading and unloading or maintenance of vehicles:
  • Being struck by a moving vehicle
  • Falling loads
  • Falls from vehicles
  • Collapsing or overturning vehicles
Information is taken from the HSE publication “Health and safety in road haulage”.

Over the past five years, accident reports sent to HSE and local authorities show that nearly 60 employees were killed and 5,000 were seriously injured in the haulage industry.

Employees in haulage companies, warehousing, wholesale and retail distribution are vulnerable to a variety of injuries such as simple slips, trips and falls to being struck by moving or falling objects.

HSE’s leaflet aims to help all employers in road haulage and distribution to improve their employees’ health and safety.

Although it draws on information from the haulage and distribution industry, almost everything here will apply to every operator of commercial vehicles.

Risk management
Insurers pick up the cost of accidents, damage to vehicles, legal liability and a range of other insured losses. By identifying areas of risk and implementing a framework to minimise or prevent the impact of an insured event, haulage companies can improve safety and increase profits.

Controlling risks with an emphasis on practical control and improvements to eliminate or reduce hazards are the recommendations that are put forward in the HSE’s publication.

Areas where improvements can be made include:
  • Employee training for drivers, maintenance and distribution staff
  • Telematics to help your drivers
  • Vehicle tracking, route planning and fuel management
  • Driver assessment
  • Safety devices such as cameras and autonomous emergency breaking
We can help you protect your contracting business. Simply call us on 0121 321 4600.