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Haggie Dev

New addition to AR Partnership Programme
New addition to AR Partnership Programme 1920 1280 James Hallam

NW Risk Solutions (“NWRS”) announces the launch of its new insurance broking business to providing bespoke solutions to a variety of clients, including : large AIM Listed firms, boutique businesses and private clients. NWRS will be able to access specialist insurance products via Lloyds
of London, a plethora of insurance companies and Managing General Agencies.

Commenting on NWRS’s emergence, Managing Director, Peter Stevenson, said “For many years I have felt that there has been a void in tailor made insurance policies for businesses with particular requirements and we want to move away from the ‘one size fits all’ approach. We are delighted to
be in Partnership with James Hallam one of the UK’s leading independent Lloyds brokers that act internationally with global specialists.

Peter will be joined by Colin Davison who was formerly the Chief Executive Officer of Abbey Protection plc, an AIM listed company which was sold to Markel, a Fortune 500 insurance company in 2014. Peter commented on Colin’s appointment “it will be great working alongside Colin again
and I look forward to us building NWRS into a substantial company with an unerring approach to providing our customers with an absolutely first class service”.

Paul Anscombe, Seventeen Group CEO, said: “We are really excited to welcome Peter, Colin and the NW Risk Solutions team on board as part of our expanding Partnership Programme. We see huge opportunity in the North West, particularly for the unique offering the NWRS team are developing
and very much look forward to working together. Like all our Partners, they will undoubtedly add tremendous value to the Seventeen Group and I know that in return we can support them in achieving their growth plans”

Paul Anscombe also thanked Roy Standish Director of Partnerships for overseeing the on-boarding of NW Risk Solutions. “Roy has a huge amount of market experience and this was crucial to help finalise this deal. All of our Partners value the support of Roy and his team throughout their relationship with James Hallam and very much see him as part of their respective team”.

Peter and Colin will be joined by a team of eminent businessmen including Sir James Vernon, from the world of property, finance and commerce who have already introduced highly significant customers and opportunities to NWRS.”

Seventeen Group’s Financial Report 2020
Seventeen Group’s Financial Report 2020 1920 1280 James Hallam

Seventeen Group is pleased to announce its financial results for the year ending 31st December 2020.

During a year dominated by the global effects of Covid, the Group reported an 8.3% increase in revenue and increased EBITDA from £3M in 2019 to £3.5M in 2020. The ‘rolling’ EBITDA for the 12 months to 2021 is on target to reach £6M.

Our underwriting subsidiary, Touchstone, increased revenue to £4M and is on target to achieve £5M in 2021.

James Hallam had two divisions particularly exposed to the impact of covid, (motorsport and Hospitality & Travel) but the remaining divisions (excluding acquisitions) grew by £820,000 over the prior year. Group CEO Paul Anscombe comments as follows:

“We are delighted with our Group performance in 2021. The business held up extremely well under the twin challenges of a hard market and covid. We have been able to reduce costs in a number of areas, including closing two premises, and the positive impact of these operational savings has flowed through to our 2021 year to date results.

Whilst covid restricted face to face meetings, we were still able to launch London Re our German based Lloyds broker, established in partnership with our German partner MRH Trowe gmbh. From a technology perspective we launched our first on-line product via ProMed, specialist medical sector division.

Our investment in Touchstone continued through this period and I am delighted to report that Touchstone went through the £40M GWP threshold this year and continues to work with our long-standing insurer partners. 2020 was also important in terms of cementing our relationship with our funding partner to help finance future acquisitions and so in 2021 we completed the purchase of Ryans, PRS and Christopher Rowe.

Our strategic objectives remain to grow both organically and through acquisition over the coming years as we see increased opportunities for a truly independent insurance business during a period of huge change”.

Independent Hotel Show 2021
Independent Hotel Show 2021 1920 1280 James Hallam

A fantastic start to the week for the James Hallam Hospitality and Leisure Team by sponsoring this year’s Independent Hotel Show in Olympia, London. The event was incredibly well attended with two days of inspiring showcases, seminars and outstanding networking opportunities.

David Noble, Our Director of Hospitality and Leisure, is pictured below presenting this year’s Outstanding Contribution Award to Peter Hancock. Many Congratulations Peter!

We look forward to seeing you all again next year.

Capsule Insurance Brokers – A new world. A new way.
Capsule Insurance Brokers – A new world. A new way. 1920 1278 James Hallam

Click here to download the full document.

Water leak detection
Water leak detection 1920 1280 James Hallam

Understand how to avoid costly water damage to your property by way of installing a water leak detection or prevention system and those that are available on the market today.

At some point you may have heard of a friend or family member who has suffered a water leak or burst pipe at their home and you may think that this will never happen to you, but how sure are you that your plumbing system will not fail at any given moment?

The Household Insurance market has seen a dramatic increase in both the frequency and severity of claims relating to Escape of Water from pipes, tanks and general apparatus with 1 in 4 claims being attributed to Escape of Water, according to the Association of British Insurers (ABI).

The amount of water that can pour into your home when a pipe bursts is unfathomable which can be very distressing. A Household Insurance Policy will, of course, operate in the event of an “Escape of Water”, and insurers will arrange for the property to be dried out, replace damaged belongings and even provide you with alternative accommodation, but subsequently, how will your insurance policy be impacted?

For example, insurers may increase premiums payable at your next renewal, apply larger policy excess and even request a plumbing system survey be carried out.  In addition, there may be the requirement for a Water Leak Detection System to be installed.

Post loss, some insurers will provide a contribution towards the cost of installing a Water Leak Detection System, but do you want to risk being in the position where you have to leave your family home for months to enable insurers to carry out the required remedial works.

Why not act first and install a system that will monitor your plumbing, giving you complete peace of mind, preventing this awful scenario from happening.

How does a water leak detector or prevention system work?

Water Leak Detection Systems detect potential plumbing problems by monitoring the water flow within the pipes, which could result in a water leak and damage to your property.

These systems can detect and notify you of a leak via an application on a smart device. This will enable you to receive the alert no matter where you are, allowing you to return home to shut off your water at the mains supply and arrange for a plumber to attend your property before major damage has been sustained.

The prevention systems can help to safeguard your home further, by automatically shutting off the water in approximately five seconds after a leak has been detected, saving you the worry of rushing home wondering what awaits you, and of course a large insurance claim which could take months to rectify the damage caused.

These systems can also be linked to your intruder alarm monitoring station so that when you are away from home you will still have the peace of mind that should a leak occur it will be taken care of in your absence.

For more information please contact our Private Clients team on privateclients@jameshallam.co.uk

Latest Acquisition – Christopher Rowe Limited
Latest Acquisition – Christopher Rowe Limited 1920 1280 James Hallam

Seventeen Group has acquired Cornwall based Christopher Rowe Limited (‘CRL’) effective from 11th May 2021 for an undisclosed sum.

CRL was established in 1984 by Christopher Rowe and is a respected local broker specialising in the Marine sector and associated trades plus personal lines. The business, now owned by Christopher’s wife Kathleen, employs 8 staff in its Penzance office.

Seventeen Group has acquired CRL to build its presence in the South West and specifically to establish a footprint in Cornwall. It is also an opportunity for James Hallam to expand its Everard Marine Division in a region which is strong in the marine sector and associated trades.

Seventeen Group CEO Paul Anscombe comments:

We are very pleased to welcome the Christopher Rowe team into Seventeen Group. This is an important strategic acquisition which should offer a very exciting future for the team in Penzance. Cornwall is a unique county which prides itself in supporting the local economy and so we felt strongly that if we want to play a part in this then we needed to put some roots down long term”.

Seventeen Group Announces Pinner Risk Solutions Acquisition
Seventeen Group Announces Pinner Risk Solutions Acquisition 1920 1280 James Hallam

Seventeen Group has acquired Middlesex based Pinner Risk Solutions (‘PRS’) effective 7th May 2021 for an undisclosed sum.

PRS was established in 2012 by the current owner and Managing Director Zena Tebboth and focuses on clients in the construction industry. The business employs 9 staff out of its offices in Ruislip and handles circa £5 million Gross Written Premium.

PRS will continue to operate from Ruislip under the leadership of Zena and will become the construction specialist division for James Hallam.

Zena Tebboth comments,

“Myself and the team are looking forward to working under the umbrella of James Hallam. We believe this will enable PRS to expand the service and options we provide to our clients and offer a construction speciality within the James Hallam operation. As we continue to grow; the larger and more flexible business model will allow us to keep pace with an increasingly complex insurance and risk management environment.”

Seventeen Group CEO Paul Anscombe comments:

“Zena and her team have worked together for a number of years and offer an excellent blend of personal service and sector knowledge for the benefit of their clients. Construction is a significant part of the UK economy and is predicted to grow. Bringing PRS on board greatly increases our capability in this sector and offers a wider range of specialist services to our clients.”

Seventeen Group acquires Ryan’s Insurance Group Limited
Seventeen Group acquires Ryan’s Insurance Group Limited 1920 1280 James Hallam

Seventeen Group has acquired Ipswich based Ryan Insurance Group effective from 6th May 2021 for an undisclosed sum.

Ryan’s was originally formed in 1975 and is one of the leading regional brokers in the East of England. The business employs over 50 staff, is a UK Top 100 broker and handles over £12 million of Gross Written Premium. Two thirds of the business is commercial and one third private clients. Included within the commercial book is a specialist Hospitality account plus a dedicated SME unit.

Ryan’s is a Chartered firm of brokers and are members of the UNA Alliance. Tim Ryan, Chairman, is also Chairman and CEO of UNA and has been a board member and active
BIBA supporter over many years.

Seventeen Group CEO Paul Anscombe comments:

“We are delighted with the acquisition of Ryan’s, a business we have known for a number of years, and are proud to welcome them into our Group. It is a high quality organisation with a great team and a strong focus on client service. It is also a company which takes its role within the broking community very seriously and actively works to raise professional
standards and share good practice”.

Ryan’s will form part of James Hallam, Seventeen Group’s broking subsidiary, and remain within its existing Ipswich premises. It will continue to trade under the ‘Ryan’s’ brand and, whilst Tim Ryan will be departing upon completion to focus on other interests, Executive Directors Robin Belsom and Tim Larke will continue to lead the business with the wider management team.

James Hallam are also UNA members and so this important relationship will continue for our enlarged business.

Ryan’s Chairman, Tim Ryan comments:

“For some time, the shareholders have been considering the long-term plan for Ryan’s with an ambition to remain part of an independent brokerage which puts people first.
When we met Seventeen Group, it was clear that they filled our requirements so we are pleased that the business will continue with a similar culture, aims and objectives as well as
creating security and new opportunities for the team.”

Looking to the future Anscombe adds:
“The consolidation of the market has accelerated and we see no sign of that changing in the short term. Key for Seventeen Group is to remain a long term independent broker and so we will continue to seek the right strategic acquisition opportunities to help support this growth alongside our natural organic growth plans.

Seventeen Group were supported by Beechbrook Capital in this acquisition. Beechbrook Capital is a specialist lender providing innovative and flexible financing solutions to support fast growing SMEs across northern Europe.

Is it safe to travel in 2021?
Is it safe to travel in 2021? 1920 1280 James Hallam

After Boris Johnson unveiled his lockdown exit plan many people will find summer holiday deals very tempting, but the risk that plans could be disrupted due to Covid-19 is ever present. The roll-out of the vaccine has seen a surge of optimism that travel will be possible again this summer. But many won’t have had their first vaccination, or will be uncertain whether individual counties will allow British nationals to travel.

Here is everything you need to know: from the latest on package holidays, vaccinations, and flight cancellations.

What do we know about foreign travel?

In England the earliest that foreign holidays will be allowed to resume is 17 May however another surge in Covid cases in Europe, as well as a slow roll out of vaccines has cast doubt whether foreign travel can go ahead. A review into the safety of reopening borders will need to be conducted, considering the infection rates and vaccine take-up.

Currently, travellers are required to test for Covid-19 at their own expense both when leaving the UK and returning home. These measures are likely to stay in place until at least mid-May along with the need to quarantine for 10 days for arrivals from red list countries. However the latest legislation, set to come in next week, will be for those attempting to take a holiday abroad without a reasonable excuse will result in £5000 fine.

What is the travel traffic light system and how will it work?

Travel destinations will be ranked green, amber or red according to vaccination rates, Covid variants and number of cases and various other factors.

The guidelines haven’t been released yet, but it is likely to look something like this:

  • Travellers returning from low-risk “green” countries will need to take a Covid test before they return to UK, followed by two further tests on day 2 and day 8 after they arrive.
  • Travellers returning from medium risk “amber” countries will have to take a pre-departure test, then self isolate at home for ten days. They will also have to take a PCR test on day 2 and day 8 of quarantine, but could also take a private test on day 5 in order to leave self-isolation.
  • Travellers returning from high risk “red” countries will have to take a test before entering the UK and then pay £1,70 to quarantine in a hotel for 11 days. They will then have to take two further Covid tests at their own expense on day 2 and day 8 of isolation.

What Covid restrictions are likely to be in place in other countries?

If their borders are open at all, most destinations will only allow travellers with proof of two Covid vaccinations however some may accept a recent negative Covid-19 test result. Check the government website for each country’s specific requirements.

How can I protect my holiday booking?

This year a package holiday could be the safest way to travel for one simple reason: if the tour operator is forced to cancel because of restrictions, you are entitled to a full refund via the package regulations.

Please note that Coronavirus remains a known event and therefore cancellation claims through some insurers will not covered on trips booked during the lockdown period.

Are airlines issuing refunds?

If your flight is cancelled by the airline, you are due a refund. This applies for all flights on any airline that departs from an EU country. Outside the EU it is slightly more complex and you will need to contact the individual airline. For those wishing to cancel their own flight, the majority of airlines are allowing cancellations but in some cases this has taken over a month to process.

What about vaccine passports?

To be able to travel this year you may require proof in the form of a vaccine passport. A vaccine passport can be defined as a piece of documentation, likely to be in the form of a mobile app or similar system, proving someone has been inoculated against COVID-19.

I don’t want to be vaccinated – will I be able to travel abroad?

You may find certain avenues closed to you. Some countries and holiday firms may require you to have been vaccinated, and to be able to prove it.

If you currently arranging you travel insurance through us at James Hallam please get in contact before arranging your trip so we can provide you with up to date information. privateclients@jameshallam.co.uk

You can find the latest travel advice and warnings on the Government website here.

UK Govt. reverse Vnuk motor insurance rule
UK Govt. reverse Vnuk motor insurance rule 1920 1280 James Hallam

he James Hallam Sport team is pleased to note that the UK Govt. is to withdraw from the ‘Vnuk’ legislation passed by the EU in 2018, which has been a regular talking point and threat to the UK motorsports industry since 2014, when the law was first considered.

The law, which forms part of the EU’s MID, requires all motorised vehicles to be insured for compulsory and unlimited liability risks, including those whilst being used on private land, so captured the use of racing vehicles, pit scooters, and all other working vehicles operating within the confines of a motor sports venue, including whilst on track.

Securing coverage at the limit of liability required is just not feasible, from either the specialist motorsport liability market who cannot provide such capacity limits, or the motor insurance providers who have no appetite for such risk exposure, so it is timely that the Govt. has made their decision to scrap the ruling.

Our team had highlighted this matter to our clients over the preceding years, and encouraged them to support the Motorsports Industry Association’s campaign to lobby both EU and UK legislators to overturn the ruling, so its good news for the industry to see common sense prevail, at least in the UK.

Within the EU, there is no such liability insurance for motorsport risks available either, and it is understood that there is an appeal to exempt motorsport from the law, let’s hope their policy makers follow ours to keep motorsport on track!

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