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Sarah Clements

What Happens If I Don’t Have Manufacturing Insurance?
What Happens If I Don’t Have Manufacturing Insurance? 500 334 James Hallam

Manufacturing insurance can give you all the cover you need for your manufacturing business on a single policy. This means you will only have one premium to pay, and you will have a single point of contact should you ever need to make a claim.

Though insurance is essential for all manufacturing businesses, you do not have a legal obligation to get a dedicated manufacturing insurance policy. So, in this post, we will outline what might happen if you do not have manufacturing insurance.

What is Manufacturing Insurance?

Manufacturing insurance is tailored cover for your manufacturing business. A single manufacturing insurance policy can cover every aspect of your manufacturing business, including your buildings, your equipment, your stock, your products, and your employees.

Core areas of cover in a manufacturing insurance policy include:

  • Buildings insurance
  • Vehicles insurance
  • Product liability insurance
  • Public liability insurance
  • Employer’s liability insurance
  • Goods-in-transit cover
  • Business interruption insurance
  • Stock cover (including cover for both raw materials and finished products you keep in storage)

Is There a Legal Requirement to Get Manufacturer’s Insurance?

If you employ any staff, then you have a legal requirement to have employer’s liability insurance. This provides cover for any legal fees or compensation should your employees make a claim for accidents or injuries they sustain while on the job.

Suppliers and contractors might require you to have certain cover in place before they agree to work with you. For example, if a company appoints you to manufacture their products, they may require you to have product and public liability insurance as part of their contract.

Beyond this, there is no legal requirement to get any form of manufacturing insurance. However, there are very good reasons why no manufacturing business should go without this specialist form of cover.

What Happens If I Do Not Have Manufacturing Insurance?

A manufacturing business is a complicated operation with many moving parts. If there is a problem with any aspect of the operation, it can cause a chain reaction that could bring your entire business to a halt.

With manufacturing insurance, you will have cover for every part of your business. So, if anything goes wrong with any aspect of your business, you can quickly get the means and the support to fix any issues before they get any worse. This means your business can continue to operate with minimal disruption.

On the other hand, if you do not have manufacturing insurance, even a small issue could cause a domino effect that could ultimately bring down your whole business.

Example: What Happens If I Do Not Have Product Liability Insurance?

Product liability insurance is a particularly important form of cover for manufacturing businesses.

If any of your products are ever found to be faulty or hazardous, you may need to issue a product recall. This alone will carry significant costs. But beyond the costs of the product recall, you may also face legal action and compensation payments should any customers or stockists make a claim against you.

Without manufacturing insurance, you would be liable for covering all of these costs yourself. Product recalls are themselves highly costly. Add to this the potential costs of legal fees and compensation, and it is easy to see how even a minor issue with a single product could potentially sink your business.

For an example of how much a product recall can cost a manufacturing business, take a look at the 10 biggest product recalls of all time. Most of the companies involved are major multinationals. But also consider the small, privately held food manufacturing company that faced costs of around $1bn due to a salmonella outbreak.

Get The Manufacturing Insurance You Need, Today

No matter how long it takes you to get a policy, you should never start manufacturing any products or materials until you have all the cover you need. Read our guide to how long it can take to get manufacturing insurance.

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance brokers. We are committed to protecting your manufacturing business. We can tailor niche insurance packages for manufacturing businesses to ensure you are covered for all risks.

Find out how we can help you get a bespoke and cost-effective manufacturing insurance policy today.   

Common Fire Hazards in Businesses & Workplaces
Common Fire Hazards in Businesses & Workplaces 500 334 James Hallam

It is important to understand the common fire hazards in the workplace. If you understand where and how fires are most likely to break out, you can design and implement fire safety policies and procedures to effectively manage, mitigate, or eliminate the risks.

Some of the most common fire hazards in the workplace include:

  • Electrical and battery fires
  • Flammable substances
  • Smoking
  • Build up of combustible materials
  • Cooking
  • Ineffective fire safety equipment

We will explore each of these, the common causes of these issues and how they can quite quickly lead to a fire in the workplace.

Electrical and Battery Fires

Electrical items have always carried a fire risk. But the risk may be greater than ever due to the widespread use of lithium-ion batteries.

Lithium-ion batteries are used to power a wide range of devices, including laptops, smartphones, electric scooters, e-bikes, and other kinds of electrical vehicles. They are compact, they have a high energy density, and they are rechargeable. Yet they may also carry a significant fire risk.

If lithium-ion batteries are faulty or damaged, it can lead to a chemical reaction known as thermal runaway: The battery overheats rapidly, and can ignite spontaneously, burning at temperatures of around 1,000°C. Burning lithium batteries also emit toxic, flammable gases, meaning that fires can quickly spread, and even result in explosions.

Flammable Substances

It is common to store large amounts of flammable substances in many workplaces. These include flammable liquids and vapours, including many common cleaning products, and combustible materials such as paper and cardboard.

A single spark can cause these substances to ignite. And as flammable substances are often stored in bulk, even a small fire can quickly spread.

Smoking

Smoking in the workplace is perhaps not as common as it used to be, and most smokers now smoke outside in designated areas. But people can be careless. If a cigarette, or a lit match, is not properly extinguished and disposed of, it can start a fire. If this fire breaks out near any flammable materials, then it will spread rapidly.

Build-up of Combustible Materials

Most workplaces produce a lot of waste, a lot of which is combustible. If you do not take proper precautions to store and dispose of this waste, then you are creating a significant fire hazard.

The build up of dust is another major cause of fires in workplaces. If you do not have adequate ventilation in place, dust deposits, along with atmospheric dust, can cause fires, and even explosions.

Cooking

There are many fire hazards in kitchens, from faulty ovens, toasters, and other appliances to the abundance of flammable oils and other liquids.

In offices and other workplaces, it is common for workers to put something in a toaster or microwave, and leave it unattended while it cooks. Such behaviour can make fires more likely, as it creates a risk that the food will ignite, or the appliance will overheat.

Ineffective Fire Safety Equipment

Finally, if the fire safety equipment in your workplace is not working like it should, then even a small fire can quickly spread into something much more serious.

Examples include:

  • Untested fire alarms – are the batteries still good?
  • Fire doors left open – which means that if a fire does break out, it will have a chance to spread.
  • Blocked fire doors – which can endanger lives in the event of a fire.
  • Inappropriate fire extinguishers for the type of fire hazard.

How To Prevent The Risk of Fire in the Workplace

Please note that this guidance is not exhaustive, and is merely intended to provide some best-practice examples for how you can control the fire hazards in your workplace:

  • Train all of your staff in fire safety. Make sure everyone understands the specific risks in your workplace, and how to manage them. Also ensure that everyone knows exactly what actions to take in the event of a fire, in order to keep themselves and their colleagues safe. Make this training part of all staff inductions, and ensure that everyone gets periodic refresher training.
  • Take care with electricals. Never overload any plug sockets, and if possible, unplug any machinery or equipment when not in use.
  • Take particular care with lithium-ion and other batteries. Do not use them if they appear in any way damaged or degraded. Do not overcharge them. And never dispose of any batteries in the main waste stream. Use a dedicated recycling service instead.
  • Take care in how you store waste and other combustible materials. When it comes to flammable substances, follow the manufacturer’s instructions on storage and management exactly. Clean up any spillages immediately.
  • Regularly test all of your fire safety equipment, and replace anything that needs replacing as soon as you spot an issue.

Are You Covered For Workplace Fires?

James Hallam is an independent, family-run Lloyd’s broker. Since 1982, we have helped hundreds of businesses across UK understand and manage their fire risks, while getting comprehensive cover for all risks at a competitive price.

Learn more about our specialist business insurance services.

 

What is Included in Beauty Therapist Insurance?
What is Included in Beauty Therapist Insurance? 500 334 James Hallam

If you offer any kind of beauty therapist services, then you need specialist beauty therapist insurance to cover you, and your customers, for all of the risks associated with your services.

In this post we will outline what is included in beauty therapist insurance, and why you need it.

What is Beauty Therapist Insurance?

Beauty therapist insurance is specialist cover for beauticians of all kinds, including:

  • Beauty therapists
  • Hair and beauty consultants
  • Hairdressers
  • Nail technicians
  • Make-up artists
  • Massage therapists
  • Manicurists
  • Pedicurists
  • Salon owners
  • Mobile hairdressers or beauticians

What Types of Treatments Can Beauty Therapy Insurance Cover?

Beauty therapist insurance can cover a range of treatments, including:

  • hairdressing
  • barbering
  • facials
  • makeup
  • spray-on tans
  • massages
  • body wrapping
  • eyelash and eyebrow treatments
  • ear piercing and more

It can also cover more specialist treatments, including:

  • microblading
  • dermaplaning
  • microdermabrasion
  • hydrotherapy and more

What is Included in Beauty Therapist Insurance?

You can tailor your beauty therapist insurance policy to meet your exact requirements. But most policies will include the following cover:

Treatment Risk Insurance
There are risks involved in many of the treatments you might provide as a beauty therapist. A customer could have an allergic reaction to a product you use, for example. Or you might accidentally injure a customer while applying a treatment. If a customer makes a claim against you, treatment risk insurance can cover any legal fees or compensation that might be due.

Professional Indemnity Insurance
If a customer is unhappy with your work, or if they believe you have mis-sold or misrepresented your services, they may make a claim against you. In this case, professional indemnity insurance can cover any compensation or legal fees that may arise.

Contents Cover
This is cover for the equipment you use to apply your treatments, along with any products you might use. It can also cover your administration and IT equipment, including salon furniture, cash registers, smartphones, tablets, and laptops.

Buildings Cover
If you own or manage a beauty salon or a hairdressers, buildings insurance is cover for your premises against fire, flood, theft, and other events.

Public Liability Cover
If you own or manage a beauty salon or a hairdressers, public liability insurance can cover your customers, along with any other members of the public, for any accidents or injuries they sustain while on your business premises.

If you are a mobile hairdresser or beautician, public liability insurance can cover any accidents that may take place while you are visiting a client’s home – such as spilling a bottle of nail varnish, or accidentally scorching a surface with some hair straighteners.

Employer’s Liability Insurance
If you employ any staff, then you have a legal requirement to get employer’s liability insurance. This will cover you staff for any accidents, illnesses, or injuries they may sustain while on the job.

Do I Need Beauty Therapist Insurance?

Yes. You have a legal requirement to get some forms of cover, such as employer’s liability insurance. Certain professional bodies may also require you to get cover as part of their membership. Plus, if you rent a chair at a salon, or if you run a salon yourself, you may have a contractual obligation to get certain forms of cover.

But even if there were no legal or regulatory requirement to get beauty therapist insurance, we would still strongly advise you to get all the cover you need. If something ever goes wrong with your treatment, your customers could make a claim against you. This could result in excessive legal fees, and even more excessive compensation payments. Without cover, you would be liable to pay these fees yourself.

Also, without cover, even the smallest mishap could sink your business completely. If any of your equipment were lost or damaged, for example, would you be able to afford replacements? With beauty therapist insurance, you would be able to recover from most setbacks with the minimum of disruption to your business.

Specialist Beauty Therapist Insurance From James Hallam

James Hallam is an independent, family-run Lloyd’s broker. Since 1982, we have helped hundreds of beauty therapists across the UK get the insurance they need at the best price. Whether you are running a single hair or beauty salon, or a chain of salons, or a mobile beautician service, we can help you get specialist cover at a competitive price.

Learn more about our specialist beauty therapist insurance services.

How to Reduce Hotel Business Insurance Costs
How to Reduce Hotel Business Insurance Costs 500 333 James Hallam

If you own or manage a hotel, then you are no doubt familiar with just how much it can cost to get adequate hotel insurance.

In this post we will outline some of the factors that can affect the cost of hotel insurance, and explore some ways you can bring down the price of your policy.

What Can Affect The Cost of Hotel Insurance?

  • Your hotel’s size. A bigger hotel means more rooms, which means more guests, which means more risks. So, the bigger your hotel, the more you might expect to pay for hotel business insurance.
  • Your employees. The size of your workforce can also affect the price of your policy. Once again, the more employees you have, the more you should expect to pay. But you should also consider that different employees will face different risks, which can itself influence the cost of cover. Your kitchen staff, for example, will potentially face more risks than your front desk or back office staff.
  • Your hotel’s location. If you are located in an inner city area, your hotel may face a higher risk of theft. If you are located on the seafront, your hotel will be more vulnerable to floods, and to damages from adverse weather conditions. Insurers will take all of this into consideration when calculating the cost of your cover.
  • Your amenities. You may have to pay more for cover if you offer certain amenities that bring added risks, such as swimming pools, spas, and sport facilities.

Get a Risk Assessment For Your Hotel

Insurance is all about risk. When calculating your premiums, insurers will consider the specific risks that your hotel, your guests, and your employees may face.

If you take action to manage, reduce, or eliminate these risks, it can help to bring down the cost of your cover.

So, to begin with, conduct a thorough risk assessment for your hotel. Identify all of the things that could possibly go wrong, taking into account your building, your fixtures and fittings, your amenities and facilities, your staff, and your guests.

Assess how likely it is that each risk you have identified will lead to harm, and also how severe the harm might be for every possible risk. This should give you an idea of the sort of measures you can introduce to address these risks.

Take Action to Minimise Risk in Your Hotel

Here are some of the actions that could help bring down the price of your hotel business insurance premiums.

Please note that this list is not exhaustive, and the impact these measures might have on your premiums might vary depending on your specific circumstances:

  • Get extra security, including alarms, CCTV, dedicated security staff, and motion activated lights.
  • Invest in training and development for your staff. This could incorporate workplace health and safety, first aid, fire safety, and even cybersecurity awareness. Make this training a part of every member of staff’s induction, and make sure everyone gets a refresher at least once a year.
  • Consider your fire risks, and your fire response policy and procedures. Invest in new fire safety equipment, and be sure to replace any items that may be approaching their use-by dates. Also think about how you can aid escape and minimise damage in the event of a fire, with sprinkler and smoke control systems.
  • Consider your flood risks. Read our guide to how you can safeguard your business against floods.

Get The Right Kind of Insurance For Your Hotel

What sort of insurance does it take to cover a hotel?

Among other things, you will need to consider cover for your:

  • Buildings
  • Fixtures, fittings, furniture, and equipment
  • Employees
  • Guests
  • Vehicles
  • Stock

Combine Separate Policies into One Combined Hotel Insurance Policy

Do you have a separate policy for every aspect of your hotel business? If so, you may be paying more than necessary. It is often possible to make significant savings if you combine your policies into a single dedicated hotel insurance policy.

There are added benefits to getting a single policy. It means you will only ever pay one premium, and should you ever have to make a claim, you will have a single point of contact and a single process to manage.

You might be able to make additional savings on your policy if you:

  • Pay for your cover annually, rather than monthly
  • Pay a higher excess (though this could cause you some issues in the event of a claim)

Work With an Insurance Broker

If you are looking to renew your hotel insurance policy, you will likely compare quotes from multiple insurers to ensure you get the best price for your cover.

This is good practice. But if you want to save money on the cost of cover for your hotel, it is much better to work with a dedicated insurance broker.

A broker will take the time to get to know your hotel, your staff, and the sort of guests you cater for. When they fully understand your insurance requirements, they will work to tailor an insurance package that meets all of your needs at the best possible price.

Working with a broker can be more cost-effective in more ways than one. If you only pay for the cover you need, then you will not pay excessively for any cover you do not need. Plus, there will be no risk of any gaps in your cover, or of any unnecessary duplicated cover across multiple policies.

An insurance broker may also be able to assist you in your hotel risk assessment, advising on the sort of measures that could help bring down the price of your policy.

We Can Help You Get the Tailored Hotel Insurance You Need

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance brokers. We are committed to protecting your hotel, your staff, and your guests from every risk you might possibly face. No matter if you are running a large or a small hotel, we can tailor a niche insurance package to ensure you are covered for all risks at the best possible price.

Find out how we can help you get a bespoke and cost-effective hotel insurance policy today.

 

 

What is Classed as an Unoccupied Property?
What is Classed as an Unoccupied Property? 500 334 James Hallam

Some empty or uninhabited homes are classed as “vacant” properties, and some as “unoccupied” properties.

It is important to understand the difference between these terms, as there are legal and insurance implications for each.

In this post we will explain what is classed as an unoccupied property, and discuss why this matters.

Unoccupied vs. Vacant Properties

You might think that an “unoccupied” property is simply one that does not contain any occupants. However, it is a little bit more complicated than this. Depending on the circumstances surrounding the property, it may be classed as either “unoccupied” or “vacant”.

What is an Unoccupied Property?

An “unoccupied property” is a property that was previously inhabited but which, for one reason or another, does not currently have any inhabitants.

When is a Home Classed as Unoccupied?

Here are some situations that might result in a home being classed as an unoccupied property:

  • A homeowner passes away, leaving their home empty. Their home will be classed as “unoccupied” until someone lives in it again – whether this is a beneficiary in a will, or a future occupant should the beneficiaries decide to sell the property.
  • A homeowner leaves their home for an extended period, such as for a long holiday or a business trip, or for the duration of a renovation project.
  • A second home that is only used at certain times of year might be classed as unoccupied when not in use.

A property will have to be left empty for a set period of time before it is legally classed as “unoccupied”. Different insurers will specify different time periods relating to when they consider a property to be unoccupied. Usually this is 30, 45 or 60 days or more. Check with your insurer to find out what they have specified in their policy.

What is a Vacant Property?

A vacant property is a property that is totally empty, with no current occupants.

When is a Home or Properly Classed a Vacant?

Examples of vacant properties include:

  • New builds and empty homes that have not yet found a buyer.
  • Unused storage, studio, or warehouse spaces.
  • Cleared commercial properties that are currently on the market, or which are soon to be on the market.
  • Abandoned or condemned properties that are due for demolition.

Unoccupied or Vacant Property Insurance Implications

Home insurance policies usually only cover occupied properties. As we mentioned above, your insurer might consider your home to be “unoccupied” if you leave it empty for more than 30 days at a time.

What happens if you leave your property empty for so long that it meets your insurer’s criteria for being “unoccupied”? Essentially, it means that your insurance may no longer be valid. If anything happens to your property while it is “unoccupied” – such as a fire, flood, or a burglary – then you may not be able to make a claim on your policy.

When Might You Be Affected by Unoccupied Property Insurance Issues?

Here are some situations where this might cause you serious problems:

  • If you have inherited a home. You will not be able to occupy, sell, or rent the property until the probate process is complete – that is, until the will has been fully settled. The probate process can take months, and delays are common. If the property is “unoccupied” throughout the process, then a standard home insurance policy may not provide the cover you need.
  • If you have a second home. If you leave your second home or your holiday home unoccupied for months at a time, then it is important to ensure that your insurance covers you for any periods when you are not using the home.
  • If you are planning an extended trip. If a planned holiday or business trip will take you away from your home for longer than the time specified in your policy, and if your home will be empty or no member of your family will be there while you are away, then you may inadvertently void your home insurance cover.

How To Keep An Unoccupied Property Safe

  • Take extra steps to secure the property. Invest in extra security, and consider shutting off the property’s utilities to reduce the risk of fires and floods. However, if the home will be unoccupied through the winter months, setting the heating to come on at certain points during the day can prevent pipes from freezing, which can make leaks less likely.
  • Check on the property from time to time. If you can periodically check on the property, you can address any potential issues, such as leaks, before they become truly problematic. Even better, if you can spend the night at the house from time to time, or even appoint someone to look after the property for you, you can ensure that the home never meets your insurer’s criteria for being unoccupied.
  • Get specialist insurance for unoccupied properties. Dedicated probate insurance can give you full cover throughout the entire probate period. Similarly, specialist second home insurance can provide cover even if your second home is unoccupied for extended periods throughout the year.

Get Dedicated Unoccupied Home Insurance From James Hallam

Whether you are dealing with the probate process for an inherited home, or you need some specialist insurance for a second home, we can help you get the cover you need at a competitive price.

Learn more about our expert private insurance services here.

Do I Need Planning Permission For a Shepherd’s Hut?
Do I Need Planning Permission For a Shepherd’s Hut? 500 334 James Hallam

Do you need planning permission for a shepherd’s hut? It depends on a few things, such as where you want to build the hut, and how you intend to use it.

In this post we will explore some situations where you probably will not need planning permission for a shepherd’s hut. We will also discuss some situations where you might need some form of permission.

How Personal Use and Permitted Development Applies to Shepherd’s Huts

If you plan to build a shepherd’s hut on your own land – such as in your back garden – and if the hut is just for your personal use, then you may not need any planning permission.

A shepherd’s hut is classed as an outbuilding. Most homeowners have “permitted development” rights for certain types of outbuildings, including sheds, cabins, summerhouses, and shepherd’s hut. Among these permitted rights is a right to proceed with construction without getting planning permission.

Shepherd’s Hut Permitted Development Criteria

For permitted development rights to apply, there are certain criteria that your shepherd’s hut must satisfy:

  • It must be for personal use only. You cannot rent it out to others.
  • It must be built to the side or the back of your house. You cannot build it in your front garden, or anywhere else in front of your house.
  • If you are going to build the shepherd’s hut within two metres of your house boundaries, then it must not exceed 2.5 metres in height. If you are building the shepherd’s hut two metres or further from your house boundaries, then its eaves cannot be higher than 2.5 metres, and the highest point of its roof must not be more than four metres from the ground.
  • The shepherd’s hut, along with other outbuildings and developments, cannot take up more than 50% of your land beyond your home. This might not be an issue if you have a large garden, or an extensive plot of land. But if you already have sheds or other outbuildings on your land, you may have to demolish some older structures before you add anything new.

You can read the full government permitted development rights guidelines.

Properties Excluded From Permitted Development Rights

You may not have permitted development rights if your property is a listed building, or if it is located in a conservation area, an area of outstanding natural beauty, or a national park.

If your property is a listed building, or if it is located in any such area, then you should seek guidance and permission before you consider building a shepherd’s hut.

When Will You Need Planning Permission For Your Shepherd’s Hut?

You may need planning permission for your shepherd’s hut if:

  • The hut would not meet any of the criteria outlined above.
  • You intend to make money from your shepherd’s hut.

Permitted development rights do not extend to any structures you build for commercial use. This includes building shepherd’s huts for use as holiday accommodation. It may also include building a commercial hut to use as a home office, or as the premises for a home business.

Often, you may not necessarily need planning permission for the hut itself. The permission will be for “change of use” – meaning that you will be applying to change the use of your land from domestic, or agricultural, to commercial. This means that you will likely need to seek permission to build a shepherd’s hut on a plot of land that is separate from your main domestic property.

How To Get Planning Permission For Your Shepherd’s Hut

First, contact your local planning authority. You can find contact information for your local planning authority on the Planning Portal.

Tell your local planning authority about what you intend to build, where you intend to build it, and how you intend to use it. They will then be able to advise you on the type of application you may need to put together, including the key documents and drawings you will need to supply.

You may have to pay certain fees as part of the planning process. The planning authority may come back to you with questions about your application, and with requests for additional information.

What Else Will I Need To Build a Shepherd’s Hut?

Beyond planning permission, the most important thing to consider is insurance.

It is a very good idea to get dedicated insurance for your shepherd’s hut, regardless of where you build it, and how you intend to use it.

You will certainly need specialist insurance if you plan to lease your hut to holidaymakers. But even if you are building a shepherd’s hut for personal use in your back garden, a dedicated policy will help fill any gaps in cover that are not provided by your main home insurance policy.

Learn more about shepherd’s hut insurance, and what it covers.

Get Specialist Shepherd’s Hut Insurance From James Hallam

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who specialise in getting you the cover you need at a competitive price.

We will ensure you get full cover for your shepherd’s hut, wherever you build it, and however you use it. We will cover you whether you keep your shepherd’s hut on your own land, or on a separate plot of land.

Learn more about our specialist shepherd’s hut insurance and get a free quote today.

Crime Insurance vs. Fidelity Bonds – What’s the Difference?
Crime Insurance vs. Fidelity Bonds – What’s the Difference? 500 334 James Hallam

All businesses and professionals should get insurance cover for any potential losses that may arise from criminal activity. In this post we will outline the differences between two key forms of cover: crime insurance, and fidelity bonds.

What are Fidelity Bonds?

Fidelity bonds may also be referred to as employee dishonesty insurance. Fidelity bonds can cover your business for any losses that may arise as a result of fraudulent or dishonest acts committed by your employees.

For example, if an employee embezzles or steals money from the business, such as through credit fraud or forged cheques, your fidelity bonds can cover your financial losses up to your pre-agreed cover limit.

What is Crime Insurance?

While fidelity bonds offer specific cover for employee dishonesty, crime insurance can provide much broader cover. Like fidelity bonds, crime insurance can cover your business for losses arising from employee fraud. However, a crime insurance policy can provide additional cover for losses that result from third party criminal activity, including robberies and forgeries.

Crime insurance can also provide cover for losses resulting from cyber breaches and data theft – though a dedicated cyber insurance policy can offer the broadest cover here.

The Key Differences Between Fidelity Bonds and Crime Insurance

  • Fidelity bonds offer narrow, specific cover for employee dishonesty. Crime insurance provides much broader cover for losses stemming from a wide variety of criminal activity – including criminal acts committed by third parties.
  • Fidelity bonds may not cover all losses that arise from employee activity. The insurance may only extend to specified acts of employee dishonesty. This means you will not be covered for losses stemming from poor sales performance, or from business risks that do not pay off.
  • In certain regulated sectors, there may be a legal requirement to put fidelity bonds cover in place, as it can provide such a strong deterrent against insider fraud.
  • There are often strict reporting requirements and timelines for claims made on fidelity bonds. Crime insurance policies, though, can be a lot more flexible. You may, for example, be able to choose between claims-made or occurrence-based policies, which can result in a more streamlined claims processed.

To sum up, crime insurance policies may include the employee dishonesty cover you would get from fidelity bonds, but fidelity bonds will not provide the broad cover you might get from a crime insurance policy.

Crime Insurance or Fidelity Bonds – Which is Right For My Business?

Some people may use the terms “fidelity bonds” and “crime insurance” interchangeably. But as we have seen, these are two different insurance products offering different levels of cover for your business.

So, which form of cover is right for your business?

You could tailor your crime insurance policy to include some cover for employee dishonesty. However, fidelity bonds can be particularly useful for businesses that offer certain financial and professional services.

If your business handles large amounts of cash, or if you deal with sensitive financial information, you may face an increased risk of insider fraud. In this case, you may need to get dedicated employee dishonesty cover in addition to your broad crime insurance cover.

At James Hallam, We Can Help Your Business Get The Cover You Need

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

We will take the time to get to know you and your business, so that we can advise you on your specific business insurance requirements.  can advise you on your business insurance and regulatory requirements. We can then help you get the cover you need for the crime risks your business is facing, whether this means a broad crime insurance policy, or a more specific fidelity bonds policy.

Learn more about our professional risks insurance services.

 

Marina and Boat Yard Safety Essentials
Marina and Boat Yard Safety Essentials 500 334 James Hallam

 

Marinas and boat yards can be hazardous environments. In this post, we will discuss some of the main risks that exist in marinas and boat yards. We will also outline some safety essentials, including key safety equipment and fire safety procedures.

What Are the Common Risks in Marinas and Boat Yards?

Due to the hazards present in these environments, the three most common risks in marinas and boat yards tend to be relating to fire, flood and injury. It’s important to recognise these risks and what causes them so you are able to make changes to mitigate them.

Fire
Marinas and boat yards are full of flammable substances, such as oil, fuel, and certain cleaning products. These are often kept in close proximity to the sort of materials that can quickly catch fire, such as sails, tarps, and wooden structures. All of this means that even a small fire can escalate rapidly.

Flood
It might seem obvious given their proximity to water, but marinas and boat yards should not underestimate the risk of flooding. Floods can strike without warning, and floodwater could cause a huge amount of damage if you do not take precautions to secure your premises and equipment.

Injury
Any large body of water will be inherently hazardous. But as well as life jackets and lifebuoys, you should also look to safeguard against slips, trips, falls, and other injuries.

Key Safety Equipment for Marinas and Boatyards

To help reduce these risks and the scale of the damage or injury they can cause, it’s essential to have safety equipment within quick and easy access.

First-aid equipment
The marina or boatyard should have:

  • onshore first aid kits
  • offshore first aid kits
  • at least one member of staff trained in first aid

Any first aid kits stored on boats should be fully waterproof, and the offshore first aid equipment should include foil blankets for people rescued from the water.

Water safety equipment
In terms of safety equipment and rules, you should always make sure there are:

  • lifebuoys or throw lines within easy reach wherever anyone might fall in
  • plenty of easily accessible ladders so that anyone who falls into the water will be able to quickly climb out again
  • enforced rules that nobody should ever take to the water without wearing a life jacket

Fire safety equipment
To help mitigate the risk of fire, you should:

  • thoroughly assess the fire risks in your marina or boatyard
  • get an adequate number fire extinguishers to cover these risks
  • ensure that your extinguishers are suitable for fighting the sorts of fires that are likely to break out (e.g. wood and paper, chemical, electrical etc.)

Marina and Boat Yard Safety Essentials

  • Take the time to understand the risks you are facing. Perform a thorough risk assessment for your marina or boatyard. Identify all of the things that could possibly go wrong. Assess how likely it is that each risk you have identified will lead to harm, and also how severe the harm might be for every possible risk.
  • Invest in the equipment you need. Your risk assessment may have revealed certain gaps in your current safety procedures. Invest in new equipment wherever necessary. Also be sure to check any existing equipment for use-by dates, and get adequate replacements as soon as you can.
  • Invest in training and development. All staff should be familiar with your health and safety protocols, and all should know how to use your key safety equipment. Get first aid training for as many members of staff as possible, and make sure that all new members are given safety drills as part of their induction. Everyone, including all staff and all members, should receive refresher training at least once a year.
  • Prevention is better than a cure. Stay on top of your routine cleaning and maintenance and you can help prevent many common accidents. Servicing engines and other machinery can help prevent fires. Keeping areas free from clutter can prevent slips, trips, and falls.
  • Be prepared for an emergency. Make sure everyone knows exactly what course of action to take in the event of an emergency. For example, where should people gather if you need to evacuate the premises? Which emergency services will you need to contact, and who will be responsible for contacting them? Also be sure to take precautions to secure your premises against possible floods.

Specialist Insurance For Marinas and Boat Yards

Everard Insurance Brokers are the specialist marine trading division of accredited Lloyd’s brokers James Hallam Limited. We can help you ensure you have the insurance you need for your marina or boat yard, to cover you, your staff, your members, your premises, and your equipment for a range of risks.

Find out more about our dedicated marine insurance services.

Event Sustainability: Essentials for Sustainable Event Planning
Event Sustainability: Essentials for Sustainable Event Planning 500 264 James Hallam

This post is an essential introduction to sustainable event planning. We will outline some principles and practices you can adopt to help make your events more sustainable without compromising on quality.

Setting Sustainability Goals for Events

What exactly do you wish to achieve in terms of event sustainability? Set some clear goals and you can track your progress while assessing what works, and what might need rethinking.

Possible goals to track could include:

  • Lower carbon emissions.
  • Carbon offsetting projects – such as planting more trees.
  • Reduced waste to landfill.
  • Reduced energy use.

To set your sustainability goals, you will first have to establish some benchmark figures. For example, what is your business’s current carbon footprint? How much energy do your current events use, and how much waste do you currently produce?

How to Find Sustainable Event Venues

Aim to establish partnerships that take sustainability as seriously as you do. Here are some things to look out for:

  • Energy – A sustainable venue might generate its own energy using solar panels or turbines, or it might use biofuel to reduce emissions from temporary generators.
  • Waste – A sustainable venue will commit to sending zero waste to landfill. It may even have found a way to recycle its waste so that its used to generate energy.
  • Food Miles – A sustainable venue will aim to reduce its food miles through working exclusively with local producers.

For an example of a venue that prioritises sustainability, take a look at Farnborough International Exhibition and Conference Centre’s sustainability page.

Planning and Incentivising Greener Transport for Delegates

Another important thing to consider when choosing venues – will it be possible for the majority of delegates to reach the venue using public transport links?

There are many extra things you can do to make things as easy as possible for your delegates. If there are no nearby train stations, bus stops, or tram stops, for instance, you could organise green shuttle buses to ferry delegates from the nearest transport hub.

You could also run initiatives to encourage as many delegates as possible to choose greener transport options. For example, you could offer vouchers for free food or drinks for any delegate that arrived via public transport.

Supplier Sustainability Audit – Gifts, Catering, and More

Audit your event planning operations to identify any potential areas of waste, along with any areas where you might make improvements.

Earlier we mentioned the importance of sustainability in catering. Regardless of whether your business is handling this, or the venue, you should look to prioritise seasonal ingredients, low food miles, and zero waste to landfill.

Also think about the gifts and marketing materials you might supply. Aim to reduce packaging, and to prioritise authenticity and personalisation over sheer quantity. Here is a useful introduction to how you can apply sustainability principles to your gifting and marketing strategy.

Finally, think about the extra materials you provide as part of your events, from flipcharts to notepads to technology. As well as focusing on sustainability in procurement (such as through choosing recycled or low-carbon alternatives), also think about waste management. How can you encourage delegates to responsibly dispose of any wastepaper they produce at the event, for instance?

At James Hallam, We Are Committed to ESG

As part of your commitment to event sustainability, you should ensure that every organisation you work with shares your goals.

We have already mentioned the importance of choosing sustainable venues and suppliers. But what about your professional partners?

Choose James Hallam as your event sector insurance partners, and you can rest assured that your dedicated insurance brokers will be just as committed to sustainability as they are to getting you the specialist cover you need.

Learn more about our ESG commitment here.

Contract Works Insurance vs Contractors’ All Risk Insurance: What’s the Difference?
Contract Works Insurance vs Contractors’ All Risk Insurance: What’s the Difference? 500 333 James Hallam

People often use the terms “contract works insurance” and “contractors’ all risk insurance” interchangeably. However, they are two distinct insurance products. To ensure you have all the cover you need for your project, it is important to understand the difference between the two.

What is Contract Works Insurance?

Contract works insurance provides cover for in-process construction projects. Usually, the cover lasts from a specified start date up to a specified completion, or handover date.

Contract works cover essentially provides cover for fire and other risks that might affect a structure while it is being constructed or renovated. The policy will provide enough cover to return the structure to the condition it was in before it was destroyed or damaged.

Who Needs Contract Works Insurance?

Certain construction contracts make contractors directly responsible for buildings and structures throughout the construction or renovation period.

For example, if a new home is being built, but the structure catches fire before it is completed, the contractor would be liable for damages. In this case, contract works insurance would give the contractor all of the cover they need to return the house to the condition it was in before the fire, so that they can finish the build.

What is Contractors’ All Risk Insurance?

Contractors’ all risk insurance gives contractors and property developers a diverse suite of cover. This can include cover for:

  • Personal injury
  • Professional liability
  • Public liability
  • Employer’s liability
  • Tools, plant, and equipment – including any equipment hired specifically for the project
  • Temporary buildings

What is the Difference Between Contract Works Insurance and Contractors’ All Risk Insurance?

The key difference is that Contract Works Insurance is cover specific to the destruction of an in-progress project, whereas Contractors’ All Risk Insurance is a suite of insurance cover for the broader range of risks of a construction project.

Essentially, contract works insurance covers in-progress construction projects for fires and other risks, in such contracts where the contractor would be liable for any destruction or damage. It covers the costs of repairing or redoing projects that have been affected by fire, flood, vandalism, theft, and other risks. This can include cover for any necessary tools, materials, and labour, but the policy will only provide enough cover to return the project to the state it was in before the incident.

While contractors’ all risk insurance gives contractors a suite of cover for the many risks associated with a construction project. This can include cover for personal injury, for loss or damage to tools, plant, and equipment (whether it is owned or hired), and for public, professional, and employer’s liabilities. This may even include contract works cover.

Do You Have All The Cover You Need For Your Construction Project?

Here are some key things to consider:

  • Some contractors’ all risk insurance policies may include contract works cover. Check your policy wording for more information and talk to your insurer if it is not clear exactly what cover you have in place.
  • Check the construction contract, to see who is liable for damage and destruction to the project while it is in progress. This may determine whether or not you need a dedicated contract works policy.
  • If the construction project is an extension to, or renovation of, an existing building, then contract works insurance may not cover the costs of repairing the original building if it is damaged during the works. For this, the property owner may require specialist renovations cover as part of their home insurance policy.

If you are not sure whether you have all the cover you need for your construction project, we are here to help. We will take the time to understand your project and your contracts to ensure you get comprehensive insurance, with no gaps in your cover, at a competitive price.

Find out how we can help you.

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