In the Wake of Disaster.....

There are a number of terms for Business Continuity Management (BCM) - some people would know it as a Disaster Recovery plan.  Whichever way you term it in the wake of a major incident BCM can be the difference between survival and extinction.  This may sound a little over dramatic but statistics gathered by the London Chamber of Commerce make for truly terrifying reading:

• 90% of businesses that lose data from a disaster are forced to close within two years of the disaster
• 80% of businesses without a well-structured recovery plan are forced to close within 12 months of a flood or fire
• 43% of companies experiencing disasters never recover
• 50% of companies experiencing a computer outage will be forced to shut within five years

Shocking statistics like these and stories of businesses struggling to recover in the wake of the 9/11 and 7/7 terrorist attacks means BCM is a hot topic for senior managers. 

Global insurance intermediary Willis has first hand experience of managing the fall out of a major incident....

Happy Birthday Corporate Manslaughter Act

The Corporate Manslaughter and Corporate Homicide Act 2007 came into force on 6 April 2008, creating a new offence called Corporate Manslaughter in England, Wales and Northern Ireland, and Corporate Homicide in Scotland. As we approach the Act’s first anniversary we take a closer look at one area where companies could be exposed …….....

The City of London Magistrates Court found the proprietor of a London based business guilty of not having Employers’ Liability Compulsory Insurance. He must now pay £500 plus prosecution costs of £10,000 and £1,000 in compensation. Throughout the case, the proprietor maintained his innocence of the breach, pleading not guilty to failing to have the required insurance....

Why You Need to Reveal All

Utmost good faith is one of the fundamental duties under a contract of insurance. It requires those applying for insurance cover to disclose all material facts about the risk being proposed to the insurer. It also requires insurers to deal openly and honestly with policyholders....

Mark Radburn's Top Tips for Securing the Right Insurance Deal

Willis Networks' Managing Director, Mark Radburn addressed the membership at the BPF budget planning seminar on the 9th July 2008. Included in his presentation were some top tips for purchasing your commercial insurance.  See a summary of Mark's top ten tips below and remember to use them at your next renewal....

A Real Life Plastics Industry Claim

Employers' Liability (EL) claims are probably more common than you think with typical claims ranging from loss of digits and limbs through to loss of life.  The story below is an actual Employers' Liability claim handled by one of our major insurer partners and illustrates what can go wrong.

“Two maintenance men were working on their own overnight, cleaning and renovating a granulator machine (a machine which reduces bulk plastic into small granules.) The machine had a safety device operated by two switches some distance apart, which had to be pulled simultaneously.  The men circumvented the safety by wiring both switches together so that one person could operate the machine....