The Insurance Act is Now in Force: Here’s What it Means for Your Business and Personal Insurance
It was back in March 2015 we reported that Parliament had passed the Insurance Act 2015, bringing in reforms that would spell the most significant changes to be introduced to UK insurance contract law since 1906. At the time we were preparing for an 18-month preparation period. This is now over, and the Insurance Act is, as of 12 August 2016, in force.
Liftex 2016 Review: Bonds Strengthened – and Biscuits Shared!
The team at Robert Gerrard always looks forward to Liftex International. With so many customers dotted about the country, it’s often a good chance to put faces to names, and that’s something that’s really important to us. This post really is to say a big thank you to everyone who stopped by to see us and share a cup of tea and a few biscuits!
Further Cementing the Security of Lift Plan as ACE Acquires Chubb
Robert Gerrard’s Lift Plan is a specialist lift and escalator industry insurance plan underwritten by ACE European Group Limited, which is now part of Chubb, the world’s largest listed property and casualty insurer. The security of Lift Plan is, as a result, cemented even further.
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.
Could Your Commercial Property be up to 60% Underinsured?
According to the Building Cost Information Service, part of the Royal Institution of Chartered Surveyors, almost 80% of commercial properties in the UK could be underinsured by as much as 60%. For a £500,000 property, that could mean a shortfall of £300,000: a very worrying statistic. But what is it that is causing this shortfall? It seems there are two main factors.