A further rise in the rate of standard UK Insurance Premium Tax (IPT) was announced yesterday by the Chancellor Philip Hammond in his Autumn Statement. Effective 1st June 2017 the rate of IPT charged on most insurance premiums will increase to 12%.
Organisations and individuals faced a hike in IPT when the government increased the rate from 6% to 9.5% effective 1st Nov 2015. This was increased once more to 10%, which came into effect on the 1st Oct 2016.
The Insurance Act goes into effect on 12th August 2016 and affects all commercial insurance policies governed by UK law.
The Act is designed to shift the power imbalance from insurers to the insured.
The Act introduces a new ‘duty of fair presentation’, requiring insureds to capture more knowledge from more people in their organisations.
We at Access Insurance are committed to raising industry standards, promoting transparency and verifying that our clients have the cover they need for their organisations to thrive.
We will continue working hard to ensure that the Insurance Act has nothing but a positive effect on your insurance buying process.
The Insurance Act is designed to make it harder for insurers to wriggle out of paying claims.
Consultancy group Mactavish estimates that 45% of large or strategically significant commercial insurance claims are disputed. And, on average, these disputes take three years to resolve and result in only 60% of the amount claimed.
While not-for-profit organisations are working to help society, they are not immune to the danger of violence present in all workplaces. The risk of violence, either involving an outsider or between two employees, remains a serious safety and health issue – even in a not-for-profit organisation.
Identifying Your Risk
Although risk in not-for-profit organisations depends greatly on the type of activity being performed and cannot be easily generalised, characteristics of some activities in many not-for-profit and faith-based entities are particularly risky:
Being church on a Sunday, being church during the week and being church to the community is what Jubilee Community Church (JCC) Worthing is all about. Through their charity INC (Impacting Neighbourhoods and Communities) and other developments, they are impacting the community through key social action projects.
Whilst the weather has not been too harsh this winter, temperatures can drop to extremely low levels causing the pipes in your premises to freeze and sometimes even burst. This can lead to extensive damage to buildings and contents.
To avoid the damage and inconvenience caused by burst or frozen pipes, we have put together some basic tips that can be undertaken to reduce the risk of damage to your property this winter.
For more than 2000 years the Christian church has proclaimed a message about human freedom, dignity and equality. Its message is based on the belief that everyone is equal, but not everyone is the same – equality and diversity.
Equality and diversity rights are now protected in law, primarily by the Equality Act 2010. The law is complex and the Equality Act 2010 provides protection for a range of different characteristics: age; disability; gender reassignment; marriage and civil partnership; pregnancy and maternity; race; religion and belief; sex; and, sexual orientation.
The word risk is used in a variety of contexts. But what does risk broadly mean from an insurance perspective? One definition is that risk is the likelihood of a hazard causing adverse effects as well as the impact of those effects. It is important to differentiate between risk and hazard. A hazard is a condition, situation or physical object that increases the likelihood and or severity of an event with an adverse effect. For example, a hazard could be a wet floor and the risk would be injury caused by slipping.
Organising events takes time and effort. In some cases it may involve weeks or even months of planning. There could be significant costs involved and,because of this, it is imperative that every aspect of the event is reviewed to ensure that the event is successful. As part of the process, it is prudent you ensure that adequate insurance cover and risk assessments are in place. It is important not to get caught out, especially when you are having to spend the last few days prior to the event ensuring that you have insurance cover in place to meet the requirements of a local authority or a venue.
New Cuts beating Office Insurance launched for Citizens Advice Bureaux
Citizens Advice Bureau services are under financial strain as funding is cut.
We are helping CABx survive with our budget busting Charity Office Policy. However this is no “cheap” solution, but a quality one from an insurer with a reputation for Superior Claims Handling and Strong and Excellent Financial ratings from the agencies of A (Excellent) Syndicate rating from A.M. Best., A (excellent) from A.M. Best, A+ (Strong) from Standard & Poor’s and A+ (Strong) from Fitch.
Sometimes Health and Safety is seen as a taboo subject as the importance of it is not seen until there is an accident. It is important to have robust policies and procedures in place as the following details of one of our clients illustrates:
The problem started with a leak in the church roof. The church, a converted warehouse had damp patches on a suspended ceiling. After discussions between the Pastor and the Assistant Pastor, the Assistant Pastor went on the roof to identify the source. The leak was caused by deterioration of plastic around the screw heads holding the roof tiles in place. The Assistant Pastor climbed on the roof again a few weeks later to fix the leak. Whilst up there he stood on a skylight which he had thought to be just another roofing tile, the skylight gave way and he fell through the roof. He had no safety equipment and no risk assessment was performed for the job. He suffered a serious back injury and is now a paraplegic and dependent on a wheelchair.