Insights

Welcome to the World of Dress 2 Kill
Welcome to the World of Dress 2 Kill 800 350 James Hallam

James Hallam have sponsored 3 ‘Tailor TV’ events over the last 6 months, which are run by a London tailor called Dress 2 Kill. They are an evening of drinks and a Q&A with notable guests, which is governed by Alex Payne, from Sky Sports and the Influence Room. The guests we have had so far are; Jonny Bairstow (England Cricketer), Eddie Jones (England Rugby Head Coach), Kyle Sinckler (England & British and Irish Lions Rugby Player), Jack Clifford (England & Harlequins Rugby Player) and Charlie Brake and Dr Alex from Love Island.

TailorTV is the official media channel of the exclusive event, providing behind the scenes access to leading International sports stars and celebrities. Unscripted, uncut and unrehearsed, TailorTV events take place throughout the year in front of a private audience in Central London.

Make sure you subscribe to TailorTV to keep up to date with all the great content from the events. Click here to view their YouTube channel

James Hallam Need Your Vote to Support Local Watford Charity
James Hallam Need Your Vote to Support Local Watford Charity 1920 1280 James Hallam

Tucked away behind Furniture Village on the Century Retail Park is the Watford Workshop – one of the town’s most fascinating charities.

Established for over 50 years, the charity provides work experience, skills training, and employment for disabled and disadvantaged people. Making a huge difference to the lives of some of the most vulnerable and too often forgotten and neglected members of our community.

Click here to read the full story by ‘Mustr Watford’

The Aviva Community Fund- Vote For Us!
The Aviva Community Fund- Vote For Us! 800 700 James Hallam

James Hallam are supporting Watford workshop, in a bid to win a grant that could have a profound positive impact on the local community.

About the competition:
The Aviva Community Fund offers us the chance to get funding for causes important to our community. The competition will finance over 500 projects across four different fund levels and three categories, giving money to communities across the UK. The aim for us is to get enough votes from friends, family and supporters in the community and our project could make it to the Finals, where a judging panel will award the funds.

Watford Workshop plays a vital part in an individual’s transition into unsupported employment within a mainstream workplace. They are making a big difference to the lives of some of our most vulnerable and too often forgotten and neglected members of our community. So, our application to the Aviva Community Fund is for help with the funding of a mezzanine floor area in the Workshop, as well as the equipment necessary to make this accessible to all service users. The workshop building is modern and lofty and WSW have been granted a lifetime lease from Watford Borough Council. As such, any investment in the building facilities would most definitely be a long-term one and make a direct and immediate difference to the Workshop capacity and ultimately the number of people it can accommodate and help through both the Workshop and Training activities. Initial quotes suggest the cost of a suitable and accessible mezzanine area would be in the region of £25,000, plus around £10,000 for an appropriate lift, to ensure that all service users are able to access all areas.

Please click on the link below and VOTE FOR US, plus find out more about Watford Workshop and how this money could make a difference. Voting takes 20 seconds and will make an enormous difference, every vote will count- you get 10 votes and can allocate them all to just the one cause.

https://www.avivacommunityfund.co.uk/voting/project/view/4-1590

The Biggest Competitor You Didn’t Know You Had
The Biggest Competitor You Didn’t Know You Had 1920 1280 James Hallam

PwC’s 2018 Global Economic Fraud Survey reveals that 49% of organisations admit to having been targeted or hit by fraud. What they don’t say is that some of the remaining 51% might also have fallen victim to fraud but just don’t realise it.

Corporate fraud is a growing problem in the UK, but for small and medium-sized businesses preventing fraud is proving increasingly challenging. All too often, SMEs simply don’t have the necessary resources to carry out internal checks and balances for their accounting systems. And, despite the clear advantages of fostering a culture of trust within a business, evidence shows that you’re just as likely to fall victim to internal fraud perpetrated by a long-term employee as you are by a recent recruit or contract worker.

So what can you do?

  • External fraud: Review your business processes to ensure they’re safe from potential hijack. For example, when you’re transferring a large sum of money to a supplier, ensure the process is secure by verifying the account details from at least two separate known sources.
  • Payroll fraud: One of the most common types of payroll fraud is where a so-called ‘ghost’ employee is created by someone with access to payroll with the intention of diverting funds either to themselves or a third party. This ‘ghost’ employee may be entirely fictitious or a past employee who was never properly removed from the payroll system. You should also watch out for employees altering their timesheets to increase the hours they’ve worked. An employee may also ask for an advance on their salary but fail to pay it back.
  • Accounting fraud: An employee might tamper with the company’s accounts to cover up theft or use the company’s accounts to commit theft. You should also look out for employees falsifying their expenses. This can include using forged receipts or double claiming for expenses. Run spot-checks on your accounts, including accounts that have been written off by the business.
  • Supplier fraud: A supplier may commit fraud on their own or in collusion with someone inside your business. This might involve an employee taking a payment from a supplier in return for preferential treatment. Another example is where a supplier inflates invoices to charge the company for more goods that it provides or charges a higher price than was agreed.
  • Low-level theft: No theft is too small when it comes to your bottom line and low-level theft, if allowed to continue unchecked, eventually mounts up. This could include anything from theft of petty cash to misuse of company services or resources. Also, look out for employees who are unwilling to take annual leave or are unwilling to let others get involved in their work, as this may be a sign that they fear being found out. You should consider implementing compulsory annual leave in high-risk areas of your business.

Make certain that you are adequately insured

If you discover you’ve become a victim of fraud, a comprehensive crime policy can provide essential balance sheet protection for your business. Moreover, fraud now comes in so many forms – internal, external and online – that it’s essential you get professional advice to make sure you’re doing all you can to protect your business.

For more information please contact
David Noble:
david.noble@jameshallam.co.uk
02079777856

Or Marc Brennan:
marc.brennan@jameshallam.co.uk
02079777862

Watford Fundraisers
Watford Fundraisers 1024 768 James Hallam

Our James Hallam Watford branch have been busy with fundraisers the past week.

They kicked off with a sponsored walk last Thursday, for Watford Sheltered Workshop. “It was a 2.5 mile walk around the town, with service users and volunteers of the Workshop.. ending in the pub!”

Next up was a team called ‘The Risk Factor’, which entered into The Big Charity Sports Event, in aid of the WFC Community Sports Trust and Herts Inclusive Theatre. Despite dismal weather conditions and some equally dismal physical conditions, they came a very solid 2nd place, winning the space hopper race and tug of war rounds.

The last up was the weekend’s Croxfest, which is a local community festival attended by over 8,000 people and where James Hallam were one of the many local sponsors. It’s been running for 5 years and aimed at giving upcoming and local bands a festival platform- it’s run by volunteers and as well as supporting local charities, profits are put back into making the event bigger and better the next year.

Hospitality and Leisure Newsletter
Hospitality and Leisure Newsletter 1920 1280 James Hallam

Insurers are becoming increasingly diligent when dealing with kitchen fire claims, particularly with regard to the scrutinising of extract duct cleaning reports.

The majority of insurers apply a policy condition stating that kitchen extract ducting should be deep cleaned at least every 6 months by a professional contractor (the industry standard for this type of work is known as TR19).

Read the newsletter here.

Be Aware- Electrical Installations
Be Aware- Electrical Installations 1920 1280 James Hallam

This month sees the publication of the 18th Edition IET Wiring Regulations. These regulations apply to the design, erection and verification of electrical installations; and additions and alterations to existing installations.

Also known as BS 7671:2018 Requirements for Electrical Installations, these changes were issued on 2nd July 2018 and will come into effect on 1st January 2019.

The period between publication and application gives a 6-month window for electrical contractors and others responsible for installing and maintaining electrical installations to become familiar with the new regulations.

Whilst there are many small changes from the previous 17th Edition, some of the significant updates in the new 18th Edition cover include:

  • Protection Against Electric Shock – changes to regulations relating to protective equipotential bonding and those relating to disconnection times.
  • Protection Against Thermal Effects – of particular relevance to fire, a new regulation has been introduced recommending the installation of arc fault detection devices (AFDDs) to mitigate the risk of fire in final circuits of a fixed installation due to the effects of arc fault currents.
  • Protection Against Voltage Disturbances – stipulating that transient over-voltage protection has to be installed when (amongst others) the consequences caused by over-voltage results in interruption of commercial or industrial activity.
  • Inspection and Testing – this has been revised to align Inspection and Testing requirements to other revisions within the 18th Edition.
  • Energy Efficiency – recommendations for the design and erection of electrical installations with local production and storage of energy to optimise the use of electricity. These are listed in a new appendix.

This doesn’t mean that existing electrical installations installed in accordance with earlier editions of the wiring regulations are now unsafe or require upgrading, but any new installations, alteration or additions made from 1st January 2019 onwards will need to comply with the new regulations.

It is always recommended to hire contractors who are members of a trade body such as NICEIC when choosing an electrical contractor to inspect and test electrical installations within your premises. Many commercial insurance contracts contain a fixed wiring electrical inspection condition and generally stipulate use of an NICIEC contractor.

Allianz report reveals top fears for SMEs
Allianz report reveals top fears for SMEs 1920 1280 James Hallam

Brexit, theft and data breaches are all concerns facing SMEs, but what do they fear the most?

An independent study, which was commissioned by Allianz Insurance, has revealed what SMEs fear the most.

Conducted by market research company OnePoll and released today, ’Supporting SMEs to Prosper,’ an independent survey of 500 SME business leaders found that data breaches were top of their list of fears.

Click here to read the rest of the article by Insurance Times

Seventeen Group Announces Specialist Broker Acquisition in Kent
Seventeen Group Announces Specialist Broker Acquisition in Kent 1920 1280 James Hallam

Seventeen Group has announced that it has acquired Everard Insurance Brokers Limited (‘Everards’) on the 2nd July for an undisclosed sum.

Everards are based in West Malling Kent and was established in 1969. It is a specialist marine and marine trades broker as well as handling general clients. Everards controls gross written premium of £10 million.

The vendors Stephen Roper and Tim Gilbert plus all staff will be remaining with the business which will continue to operate out of the existing West Malling premises and operate as a specialist division within Seventeen Group’s broking subsidiary James Hallam Limited.

Stephen Roper, MD of Everards comments “We thought long and hard about the type of broker we would want our staff and clients to join and James Hallam within Seventeen Group felt like the right choice from the outset”. Fellow Everards Director Tim Gilbert adds “Having developed the business and its reputation over many years we are keen to see these foundations built upon. We can add enormously to James Hallam in terms of our specialist knowledge and will likewise gain from being part of a specialist dynamic Group”.
Seventeen Group is a privately owned insurance Group which includes James Hallam insurance brokers, Touchstone Underwriting and 4Sight Risk Management.

Paul Anscombe, Chief Executive Officer of Seventeen Group comments “The acquisition of Everards is consistent with our strategy of growing and creating specialist lines of business. The team in West Malling are hugely knowledgeable in their field and are ambitious to grow the business. Everards have excellent relationships with their key insurers which we are keen to maintain and to expand the product range”.

Anscombe further adds “We were supported in this transaction by Paul Hambrook and the Clydesdale Bank insurance team and we will seek to work with Clydesdale on future opportunities going forwards. We are also grateful to Gary Medcraff of Darwin Smith for introducing Everards to us. Successful acquisitions require experienced business partners and there is no doubt that both Clydesdale bank and Darwin Smith were instrumental in helping both parties achieve our desired outcomes”.

Be aware
Be aware 1920 1280 James Hallam

Insurers are becoming increasingly diligent when dealing with kitchen fire claims, particularly with regard to the scrutinising of extract duct cleaning reports.

The majority of insurers apply a policy condition stating that kitchen extract ducting should be deep cleaned at least every 6 months by a professional contractor (the industry standard for this type of work is known as TR19).

Key items to check when engaging a contractor;

  • Ensure the contractor complies with the TR19 industry standard
  • Obtain evidence that the contractor has valid ‘Public Liability’ insurance in place with a minimum £5,000,000 Limit of Liability
  • Ensure that the contractor provides a schematic of the duct system in their report, which should detail the complete run, including the canopy
  • Ask the contractor to provide before and after measurements of grease build-up in their report
  • Ask the contractor to provide before and after photos in their report
  • Ask the contractor to confirm in writing in their report that 100% of the ducting has been cleaned and passed clean
  • Ensure that the contractor is instructed to provide recommendations in their report
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