SMEs are facing increasing levels of underinsurance
The challenging economic environment in the UK is leaving small to medium-sized enterprises (SMEs) open to significant levels of uninsured risk.
Insurance
What are Risk Management Information Systems and where do they add value?
Risk Management Information Systems are a necessary part of any risk mature organisation but what are they and where do they add value?
Understanding the risks of hot work
Hot work is an integral part of many construction or maintenance projects, and with it comes multiple hazards that need to be managed, so it’s important to be fully aware of the risks and your obligations.
Why construction plant theft is still a problem
Construction sites continue to be targeted by criminals who recognise the financial value of plant machinery and equipment.
An in-depth look at subsidence
Such unpredictable and extreme weather prompts the recurring question, whether this will be a year where insurers see an overall increase in the number of subsidence claims reported to them.
Fraud: the inevitable hazard
When it comes to fraud affecting a business it’s a matter of ‘when’, rather than ‘if’. Fraudsters are increasingly inventive: your team could be targeted, your relationships could be used … even your online profile could be a risk.
Adequate insurance coverage – The three pitfalls for SME’s
For SMEs facing squeezed margins, insurance premiums may seem like a grudge purchase. Some products may be regarded as a discretionary overhead among those who don’t fully understand their risks or how being underinsured could prove catastrophic to their business. Yet insurance can be key to SMEs’ ongoing survival by providing a financial safety net in unforeseen circumstances, when they are the least able to withstand substantial losses.
Risk management guide for the small to medium UK manufacturing businesses
While Manufacturing comprises just 5% of the UK’s businesses, it accounts for 10% of employment and 14% of turnover. Of the 270,000 firms that make up this diverse sector, just over half (138,050) are micro and SME manufacturers. Find some practical risk management advice for small and midsize manufacturing businesses:
Considerations of Contractors Professional Indemnity cover
Many contracting businesses who do not specifically design anything for a fee will be unaware of the potential risks they may face in not carrying Professional Indemnity cover. In the increasingly litigious society we live in, where it would seem that everyone wants someone to blame, should you consider cover just to protect yourself if something goes wrong?
What is Indexation and how does it impact your insurance?
There are several factors that now make indexation more important than ever. One factor is the significant rise in demand for building materials, and disruption to the global supply chain caused by the pandemic and national lockdowns. Certain elements of Brexit and local shortages of suitable labour are also affecting rebuilding and claims costs.