The New Consumer Rights Act: The Insurance Point of View
The Consumer Rights Act 2015 received Royal Assent in March 2015 and much of it is set to be introduced as law on 1 October. The new Act replaces a number of laws concerning business to consumer transactions, such as the Sale of Goods Act 1979 and the Supply of Goods and Services Act 1982. It is very much aimed at making things much clearer for consumers when it comes to understanding their rights and the solutions they are able to call upon should something go wrong during a transaction. Naturally our interest has turned to how the Act will work from an insurance point of view and how our consumer clients will be affected by the new legislation.
Insurance Premium Tax Rise: Navigating the Backlash
The Chancellor George Osborne’s decision to increase Insurance Premium Tax (IPT) was one announcement that was quietly slipped in to the July Budget. Quiet it may have been at the time, but one month on there is plenty being said. Here we take a look at some of the commentaries that have caught our eye, and offer a few opinions of our own on what has become a much-discussed topic.
Freelancers: Protect Yourself with Professional Indemnity Insurance
Being a freelancer has many benefits: freedom; control over what you do and when you work and the chance to earn a living doing what you enjoy. It does, however, carry risks too. When you offer a service of a specific nature, or advertise yourself as a specialist or a consultant, you owe a duty of care to anyone who relies on you to provide them with advice or services. Thankfully, there is a way to protect yourself - with professional indemnity insurance.
Bona Fide or Labour Only Subcontractors: Why Getting it Right is Vital for Insurance Purposes
We are becoming increasingly concerned by the assumption by clients that, because their subcontractors hold their own insurance, they are regarded as ‘bona fide’. Insurers see bona fide subcontractors as only a contingent risk because, in taking on a job, they are bearing the public or product liability risk themselves, and so the cost of insurance is lower. On the other side of the coin, with ‘labour only’ subcontractors, insurers take on the full risk of public, product and employer’s liability.
Changes to Workplace Accident Reporting – What you Need to Know About RIDDOR 2013
RIDDOR – the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations – has been updated so that the reporting requirements are simplified and clearer. RIDDOR 2013 replaces the 1995 regulations, and reiterates the need for all companies, including sole traders, to have an Accident Book for the recording of all accidents and dangerous incidents in the workplace.
Ministry of Justice Reforms: What they Mean for Personal Injury Claimants
You’ve probably heard that changes are afoot when it comes to making personal injury claims. The changes, known in their official capacity as the ‘Ministry of Justice Reforms’, have been brought in to try and combat the compensation culture, to balance legal costs and to help insurers pass on savings through lower premiums.