Author: Di Robertson

IT’S NOT JUST THE BIG BOYS AFFECTED BY CYBER LOSS - THOUSANDS OF SME’S ARE EQUALLY VULNERABLE! A cyber-attack on any business could be a catastrophe waiting to happen! We might think it’s just the big boys that Cyber criminals attack – we all know the stories of Yahoo, Linkedin and the huge IT companies in Europe and America – those stories of course make the headlines – what is perhaps less reported is that SME’s are equally at risk with thousands...

As a business owner you know that covering your business if it is damaged in anyway is important. Afterall, you need to cover the costs of repairing the damage. However, do you know how important it is to cover the loss of income if you have to close your business for a prolonged amount of time? What about paying your employees and the bills if you have no income? How long would your business survive if you had no revenue...

Some of the insurance industry’s leading companies have been ‘found wanting’ by the Supreme Court and are now required to pay claims that they had pleaded were not covered by their various insurance policies. Next comes the vexing task of ‘adjusting’ the losses claimed by the policyholders and already some insurers have asserted ‘their right’ to deduct grants, loans and Furlough monies from indemnity payments. Our latest Covid Bulletin examines the controversial question: Is it Treating Customers Fairly for insurers now to deduct...

Are you in the position of having to make a claim on your travel insurance due to COVID-19? You’ve probably never had to really think about your travel insurance before, you generally pay a small premium just in case something goes wrong, but you would never normally expect to make a claim.  You might be surprised to know that a travel insurance policy is one of the most complicated policies in existence. The term small print might as well have...

February 2021 Our strong belief is that there are still many challenges to be made and overcome. “The Supreme Court has ‘come good’ and now its my right to get my money.” These emotionally charged words, uttered by a broker’s customer, perhaps best describe the sentiment amongst many SMEs. Sadly, even now, many of them will be disappointed that their particular claim does still not meet the cover threshold; for reasons that will be beyond their comprehension. Will it become necessary to fight yet another...

Flaxman and Branko - FCA BI Test Case – Supreme Court Appeal – what it REALLY means! 2:00pm on Wednesday 24 February 2021 This comprehensive and interactive TWO hour masterclass will focus on the judgment of the Supreme Court following the appeal of the FCA’s ground-breaking test case at the High Court and seek to clarify what the judgment really does mean for brokers and their clients. Whilst the appeal judgment is very clear and insurers have lost (their arguments were found to...

More Haste, Less Speed According to the Cambridge Online Dictionary the above phrase means if you try and do things quickly it will take you longer in the end. So, in essence if you do not do your due diligence or pay attention to detail when making an insurance claim you could end up making mistakes that were avoidable and, in the end, spend more time completing the task to a satisfactory level. This phrase could be used for most tasks that...

The pain and suffering is not over yet and does not address the remedy from its decision.    More than 370,000 thousand UK businesses have suffered unnecessarily at the hands of the UK insurance industry but more suffering is soon to come.  The spectacular common sense of the Supreme Court’s judgment on the FCA initiative to challenge the industry’s integrity towards its business ‘customers’ has paid off but at what cost and what is going to be the ‘payback’ by the industry?   “The insurers...

We may be in the deepest darkest months of winter and facing the prospect of who knows how many more weeks in national lockdown, but let’s look on the bright side, this is the third time round, three different vaccines are on the way and as a nation we know now what we should be doing to protect ourselves. The number three is looking good for us here at Flaxmans too. During the last year our Advocates have been working tirelessly...

“To Err is Human, To Forgive, Devine” Alexander Pope You are human and like every other human being on the planet you are likely to make a mistake or two and although your friends, family and even boss will probably forgive you for those mistakes it is unlikely that an insurance company will do the same. So, here is a guide to help you avoid making mistakes when buying insurance. https://youtu.be/BgbzYMxZ1qc Number 1: Not using a Broker or Agent With endless information at our finger tips...