Insuring Loss of Profits due to Business Interruption

In March 2011, the Tsunami in Japan devastated large areas of its North-East coast line, destroying hundreds of lives and thousands of homes. The devastation wiped out large swathes of Japan’s manufacturing industry and energy systems, crippling its infrastructure.

The highly regarded ‘just in time’ supply chain system showed its weaknesses, when months of supplies and parts were lost and capacity to produce them weakened for months afterwards....

Changes to Retirement Legislation

The law which allows employers to retire their employees at 65, the default retirement age, without giving reason, will be removed on 1 October 2011.  Employers will no be longer able to dismiss staff just because they have reached the age of 65.

The move is one of a series that aims to encourage people to work longer to manage Britain’s changing demographic profile and pensions shortfall.

From 6 April 2011, employers were prohibited from issuing any further notifications to retire employees under the statutory retirement process....

Business Continuity Planning

2010 was a turbulent year, ending on a low of social unrest. Strikes and protests dominated the headlines, with student fee protests causing chaos and major disruption to a number of businesses and services. Given the prevailing economic issues further incidents cannot be ruled out in 2011.

The Millbank disturbance, in particular, affected the operation of local businesses for several weeks....

Paul Chetwynd-Talbot’s Top Tips for Securing the Right Insurance Deal

Paul Chetwynd-Talbot, National Practices Leader at Willis, addressed the Royal Warrant Holders Association members at the AGM on March 2, 2011. Included in his presentation were a number of tips about what you should be looking for from your insurance broker with regard to your commercial insurance needs and risk management planning.  Here’s a summary of Paul's tips:

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Why you should use an insurance broker

Buying products online has really taken off in recent years.  Most of us wouldn’t think twice about buying a DVD, a flight or even our personal car insurance online.  However, when it comes to buying business insurance that covers and protects your livelihood - that’s a completely different kettle of fish.

There are lots of things to consider when buying business insurance, more than the basics of property, motor and employer’s liability insurance....