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Sarah Clements

A Guide to Breakers Yard Insurance and Responsibilities
A Guide to Breakers Yard Insurance and Responsibilities 800 534 James Hallam

If you work as a vehicle dismantler, or you operate a breakers yard, then you may need specialist insurance to cover you for the unique risks you face in this role.

This post is an essential introduction to breakers yard insurance. We will outline what breakers yard insurance is, and what it covers. We will also discuss your specific responsibilities as a vehicle dismantler.

What is Breakers Yard Insurance?

You will face a diverse set of risks in your work as a vehicle dismantler. Rather than taking out separate policies to cover each of these risks, you can take out specialist breakers yard insurance to cover all of these risks in a single policy.

What Does Breakers Yard Insurance Cover?

We can tailor a bespoke breakers yard insurance policy to cover the unique risks you face as a vehicle dismantler. Your breakers yard insurance will likely provide cover for:

  • Road Risks – The risks associated with transporting vehicles to and from your breakers yard.
  • Equipment and Machinery – Vehicle dismantlers make use of specialist equipment. Your policy can cover this expensive equipment for loss, damage, or theft.
  • Employer’s Liability – If you employ any staff, you have a legal requirement to get employer’s liability insurance, to cover your employees for any illness or injury they sustain at work.
  • Public Liability – As well as protecting your employees, you also need cover for any accidents or injuries that might take place when members of the public visit your breakers yard.
  • Buildings – Cover for your business premises for any damages sustained as a result of fire, flood, theft, and other scenarios.
  • Business Interruption – If you are unable to operate for a period of time, your breakers yard insurance policy can provide compensation for your downtime.

Your Responsibilities as a Vehicle Dismantler

As we mentioned above, you have a legal obligation to get certain forms of liability insurance. Yet as a vehicle dismantler, there are certain other key responsibilities to be aware of:

  • Licences – You will need an End of Life Vehicle (ELV) permit from the Environmental Agency (EA) in order for your breakers yard to be classed as an authorised treatment facility (ATF). You may also need a scrap metal dealer’s licence from your local council, and you will need to issue official certificates of destruction (CoDs) for every scrap car you process on your site.
  • Depollution – As part of your duties as an ATF, you need to depollute every ELV you process. This will involve removing the vehicle’s battery, fuel, wheels, tyres, oils, catalytic converter, and more. If you do not depollute a vehicle, you must treat it as hazardous waste and follow the appropriate rules.
  • Storage – You must follow certain rules for the safe storage of liquids, batteries, car shells, and any parts you intend to resell.
  • Recycling – The government requires ATFs to work towards a recycling and recovery target of 95%.
  • Inspections and Compliance – The EA regularly inspects ATFs. Following their inspection, you will receive a written report that will outline any breaches of your permit. The more breaches you get, the more you will pay in annual fees.

You can read a full guide to your responsibilities as a vehicle dismantler.

Specialist Breakers Yard Insurance For Vehicle Dismantlers

James Hallam is a Lloyd’s broker, and the only broker in the UK with exclusive access to a specialist ELV motor trade policy. We are the trusted advisers to both the British Vehicle Salvage Federation and the National Salvage Association, and we provide bespoke services to 50 of the top vehicle dismantlers in the UK.

We understand the unique risks you face as a vehicle dismantler, and we are uniquely placed to offer some of the most competitive vehicle dismantler insurance premiums on the market.

For more information, and a free quote, call us on 0141 212 8820, or email Scott.McLaws@JamesHallam.co.uk.

 

What is High Net Worth Home Insurance and How Does It Work?
What is High Net Worth Home Insurance and How Does It Work? 800 533 James Hallam

Most home insurance policies place strict limits on the cover they provide for your building, your contents, or both. If you have a particularly valuable property, contents, jewellery or artwork then most off the shelf home insurance policies will not provide the level of cover you need.

This is where high net worth home insurance comes in. These specialist policies are for homeowners requiring cover beyond the limits of a standard home insurance policy.

What is High Net Worth Home Insurance?

A high net worth home insurance policy can include a combination of covers for your main home, second homes, holiday homes, overseas homes, contents, fine art, antiques, collectables, precious metals, jewellery & watches, renovations and contract works.

High Net Worth Buildings Insurance

High Net Worth buildings insurance provides cover for the cost of any repairs required in respect of your property’s structure and whilst you insure your home for the total amount it would cost to rebuild it, in many cases the sum insured is extended beyond what is shown within your policy schedule if a property survey has been undertaken within the preceding 5 years.

What Home Value Requires a High Net Worth Policy?

Many standard home insurance policies will only cover properties with a reinstatement sum insured up to a maximum of £1,000,000. If your reinstatement sum exceeds this level you will require a high net worth home insurance policy.

High Net Worth Contents Insurance

High Net Worth contents insurance provides cover for items within your property, generally with no single article limit, and anywhere in the World when temporarily removed from the home.

What Contents Values Require a High Net Worth Policy?

Again, most standard home insurance policies will set strict limits on the amount of cover they provide for your home contents with a maximum level of cover of £100,000 being provided. The single article limits applicable to general contents is usually between £1,000 and £2,500 and can also apply to your items of fine art, antiques, jewellery & watches. This is far higher with a High Net Worth Insurance Policy and usually set at £25,000 and above.

The Benefits of High Net Worth Home Insurance

You need a home insurance policy you can depend on. You need peace of mind that, if you ever need to make a claim on your policy, you will receive a fair and quick settlement.

If your home would cost more to rebuild than the average UK home, then a standard home insurance policy may not provide the cover you need for repairs following fires, floods, and break-ins. Similarly, if your home is a period property, or it has non-standard features such as a thatched roof or solar panels, a standard home insurance policy might not give you sufficient cover.

Talk To James Hallam About Your High Net Worth Insurance Needs

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who are committed to getting you the cover you need.

Talk to us, and we can help to ensure you have suitable cover to protect your home and contents. We will take the time to understand your lifestyle, the risks you face, and what is most important to you. If you ever need to make a claim, you can trust us to assist insurers in delivering a fast, fair, and efficient settlement.

Get in touch for a free quote today.

Do Travel Agents Need Professional Indemnity Insurance?
Do Travel Agents Need Professional Indemnity Insurance? 800 533 James Hallam

Professional indemnity insurance, is by far the most important form of cover for travel agents. Your customers come to you because they want their trip to be as straightforward as possible. They do not want to spend hour finding the best flight, and the best rooms, at the best price. They want you to do this for them. But this puts a lot of pressure on you to get it right every time.

In this post we will discuss what professional indemnity insurance is, what it covers, and why you need it.

For more information about your insurance obligations as a travel agent or tour operator, be sure to check our dedicated travel insurance hub.

What is Professional Indemnity Insurance?

Your customers trust you to deliver certain standards of service. If you make any errors or omissions, at best your customers could be inconvenienced, or left out of pocket. Yet at worst, your oversight could place your customers in danger.

As a result of your mistakes customers may make a formal complaint, or they may even decide to take legal action against you. Professional Indemnity insurance can provide cover for any compensation your customers may be due, along with cover for any legal fees you may incur following a lawsuit.

Why Do Travel Agents Need Professional Indemnity Insurance?

Any business in any industry that provides paid services to clients needs some form of professional indemnity insurance cover. Travel agents and tour operators are no exception.

We all make mistakes from time to time. And as a travel agent, the slightest oversight on your part could have unfortunate consequences for your customers.

Plus, travel is unpredictable. Many things that could go wrong for your customers over the course of their trip might be out of your hands. The airlines you book could cancel flights. The hotels you book could be less luxurious or convenient than you were led to believe. A country could even change its entry requirements after you have arranged a trip.

Any of these instances could make life difficult for your customers, who could then take action against you. Professional indemnity insurance can help minimise the risk and liability, providing essential peace of mind for both you, and your customers.

What Does Professional Indemnity Insurance Cover?

  • Professional Negligence: As a travel agent you are responsible for various critical tasks such as booking flights, including connecting flights, and sourcing and securing accommodation. Professional indemnity insurance safeguards against potential claims made against you of professional negligence, errors, or omissions that could result in financial losses for your clients.
  • Client Compensation: If you are found liable for a client’s financial loss, professional indemnity insurance provides the necessary financial protection.
  • Legal Costs: If a client claims that your advice or service caused them financial harm, legal defence expenses can quickly add up. Professional indemnity insurance covers these costs, including legal fees and court expenses.
  • Protecting Your Professional Reputation: Professional Indemnity insurance allows you to promptly manage and mitigate the effects of potential claims, limiting the potential impact on your reputation.

 

What Does Professional Indemnity Insurance NOT Cover?

As with any insurance policy, most Professional Indemnity insurance policies include certain exceptions. These might include:

  • Liability. Professional Indemnity insurance does not provide cover for injury or property damage customers may experience. This will be covered by a separate liability policy.
  • Moral hazard. This is where parties mentioned in the policy, whether it is the travel agent or the customer, take unnecessary risks in the belief that their insurance will cover them should anything go wrong.
  • Wrongdoing: Professional indemnity insurance does not cover claims arising from intentional wrongdoing, fraud, or criminal acts committed by the travel agent or travel operator.
  • War and Terrorism: Losses resulting from acts of war or terrorism are typically excluded from professional indemnity policies.

Specialist Insurance For Travel Agents and Tour Operators From James Hallam

At James Hallam, we have provided specialist insurance for tour operators and travel agents for over 20 years. We have a thorough understanding of the unique risks businesses face in the fast-moving travel industry.

We will take the time to understand your business so we can tailor the best possible travel and tour insurance programme for you and your customers. We can also advise on other insurance policies you may need to get truly comprehensive cover at the best price.

Find out more about our specialist travel industry insurance services.

 

What is General Average in Marine Insurance?
What is General Average in Marine Insurance? 800 532 James Hallam

General Average is one of the oldest of all maritime laws, with roots dating as far back as 1000 BC.

In this post we will briefly explain what General Average means in maritime law and explore the Maritime Insurance implications.

What is the General Average Principal?

The General Average principal mandates that all stakeholders proportionately share any losses resulting from situations where crew members voluntarily jettison part of the ship or cargo to save the whole.

Where Does the General Average Principal Come From?

General Average law can trace its roots back to the island of Rhodes. The Rhodian law, established in approximately 1000 BC, outlines certain rules for stakeholders following emergencies at sea.

Certain hazards may force crew members to jettison certain items of cargo, or parts of the ship itself. In these scenarios, it is unreasonable to expect crew members to take the time to carefully choose precisely which items of cargo they voluntarily sacrifice.

General Average Laws Today

In the late 19th century, maritime companies still respected the General Average principles of mutual benefit and common security. However, different countries followed different systems for calculating losses, expenses, and contributions. These discrepancies inevitably caused some issues.

The York-Antwerp Rules (YAR) were first established in 1877 with the intention of standardising loss calculations and procedures across the world. YAR has undergone numerous amendments over the years, with the most recent revisions having been made in 2016.

Rule A of YAR states that:

“There is a general average act when, and only when, any extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure.”

How Does the General Average Affect Maritime Insurance?

Maritime Insurance policies will usually include some cover for certain expenses associated with General Average principles:

  • Jettisoned Cargo – Cover for cargo that crewmembers deliberately throw overboard to prevent the ship from sinking or capsizing during storms. Policies may also include cover for retrieving this cargo.
  • Damage to Ship or Cargo – Crewmembers may be forced to take on some water to extinguish a fire. In doing so, they may voluntarily damage some of their cargo so as to save the ship, or the rest of the consignment.
  • Docking Expenses – Ships may need to shelter in a port to allow for severe weather to pass, incurring unexpected extra expenses in the process.
  • Legal Costs – There are often legal costs associated with General Average situations. Stakeholders may disagree on the value of lost cargo, for example, which could lead to a court case. Stakeholders may also have to appoint General Average Adjusters to assess the shared costs and allocate them accordingly.

Why You Need General Average Cover

If you do not have Maritime Insurance and your ship experiences an emergency at sea resulting in a General Average Declaration, then you may struggle to manage the resulting financial obligations:

  • Contribution to the value of the cargo jettisoned or damaged.
  • Expenses associated with retrieving jettisoned cargo, along with the business interruption, lost sales, and storage fees that may result from the salvage operation.
  • Legal expenses that may arise from disagreements over the value of the lost cargo, or the fairness of the shared contributions.

Instances of lost or damaged cargo can be disruptive enough already. If you add the considerable shared financial responsibility that can arise from a General Average Declaration, without adequate cover in place, your maritime business could face a potentially devastating financial loss.

Get Comprehensive Maritime Insurance Cover From James Hallam

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who are committed to protecting your business.

We have partnered with Everard Marine and Commercial Insurance, which has given us a deep understanding of every aspect of the maritime industry, and the various insurance implications.

We specialise in offering tailored marine insurance cover. As we deal with a wide range of niche insurance providers, we can arrange the cover you need, whether you are looking to cover a single vessel or an entire marine trade supply chain.

Find out more about our specialist marine insurance services.

Riot Guidance: How To Claim Compensation In The Event Of A Riot
Riot Guidance: How To Claim Compensation In The Event Of A Riot 600 400 James Hallam

In light of the unrest and rioting taking place throughout of the UK, we are aware that some of our clients and their businesses may have been affected. We want to do all we can to ensure you are fairly compensated for any loss of earnings.

If you have been impacted by the recent disturbances, please ensure you are aware of and adhere to the requirements detailed under the Riot Compensation Act 2016 (RCA)

Please take note of the key things (but not limited to) within the act:

  • The Riot Compensation Act 2016 (RCA) gives victims of criminal damage or loss during a riot the right to compensation.
  • If your property is not adequately insured you can claim compensation under the RCA from the local police claims authority.
  • Not all instances of damage or loss that occur during a period of civil disturbance will meet the criteria for compensation under the RCA – please ensure you read and understand the criteria
  • If you hold insurance for property that is damaged or stolen in a riot, you must claim via your insurance company first.
  • Please report new claims as soon as possible to your usual James Hallam Contact or alternatively please contact our claims team direct via the following:
  • Email: claims@jameshallam.co.uk
  • Report a claim via our Website: https://jameshallam.co.uk/claims-form/

 

  • To claim through the RCA you must:
    • Report the crime to the police
    • Go to gov.uk to access the RCA Claim form
    • Ensure you have the required supporting evidence of the losses you are claiming for – refer to the RCA for more information.
  • Deadline: You have 42 days to make your RCA claim from the date the riot ends. If you make an insurance claim first, you have 42 days to make your RCA claim from the date your insurer tells you that you are not fully covered.
  • If you have any questions or queries on the above, please contact your usual James Hallam contact to discuss.

 

James Hallam Open New Cyber & Technology Hub – August 2024
James Hallam Open New Cyber & Technology Hub – August 2024 1920 1284 James Hallam

Seventeen Group broking subsidiary, James Hallam, has opened a new Cyber & Technology Hub at Exeter Science Park. This extends James Hallam’s branch network in the South West to four, being Plymouth, Penzance, Torbay and now Exeter. It also brings a specialist team together to focus on the fastest growing area of the economy and the area of risk where clients require huge support. The team will work with a strongly supportive insurer panel, delivering specialist risk management and insurance solutions to clients across the UK.

Steve King, Director of Cyber & Technology Risks, comments: “This is a truly exciting prospect for myself and the team. Exeter has embraced the technology sector and supports the business community in so many ways. It felt right for us to be in the heart of it at Exeter Science Park, the South West’s centre for businesses in science, technology, engineering, maths and medicine (STEMM)”.

End of Press Release

For more information contact Jackie Knight Head of Marketing and Media

Email Jackie.knight@seventeengroup.co.uk

Tel 07824 486319

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