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flooded homes

Protect your home from flood water
Protect your home from flood water 700 515 James Hallam

The UK has been hit by relentless heavy rain over the past week, causing widespread disruption and flooding concerns. Areas across England and Wales have seen record-breaking rainfall, with some regions experiencing over two months’ worth of rain in just a few days. Locations like Woburn in Bedfordshire, for example, recorded a staggering 147.4mm of rainfall, more than double their September average, leading to severe local flooding​.

The Met Office has issued multiple weather warnings, including amber alerts for heavy rain, particularly affecting the Midlands, East Anglia, and southern parts of the country. The combination of already saturated ground and further rainfall has heightened the risk of flash flooding, with significant disruptions expected to continue in the coming days. Towns and cities across the UK are bracing for the impact, and many homes and businesses are at risk​.

If you are in Scotland, stay informed on the latest flood warnings by checking updates from SEPA (Scottish Environment Protection Agency). Be prepared for flooding by knowing your flood risk, staying up to date with the current situation, and seeking advice on what actions to take when flooding is expected.

Reducing the Risk of Flooding to Your Home

With flooding a real threat, especially in areas already hit hard by the deluge, there are several steps we at James Hallam would recommend homeowners take to minimise damage to property and belongings:

  1. Move Valuables to Higher Ground: If flooding is imminent, move important items, such as electronics, documents, and sentimental belongings, upstairs or to a higher level in your home.
  2. Block Entry Points: Use towels or blankets to block gaps under doors and windows. If you have sandbags or flood boards, place them at doorways, air bricks, and other entry points.
  3. Shut Off Utilities: Turn off gas, electricity, and water at the mains if flooding is likely. This can prevent damage to systems and reduce the risk of electrical accidents.
  4. Clear Drains and Gutters: Ensure that external drains and gutters are free of debris to allow water to flow away from your property more effectively.
  5. Place Furniture on Blocks: Raise heavy furniture, like sofas or tables, onto bricks or blocks to prevent them from soaking up floodwater.
  6. Use Plastic Bags for Protection: Place important documents, clothing, and other valuables in waterproof plastic bags to keep them dry.

Protecting Your Car from Flood Damage

Cars are particularly vulnerable in heavy rain and flooding situations. Here’s how to safeguard your vehicle:

  1. Avoid Driving Through Floodwaters: It’s a common mistake to try to drive through waterlogged roads. Even just a foot of water can be enough to cause a car to float, risking both the vehicle and passengers.
  2. Move Your Car to Higher Ground: If flooding is forecast, park your car on higher ground, away from rivers or low-lying areas that could quickly flood.
  3. Seal Your Car: Ensure windows are fully closed, and doors are tightly shut if you’re forced to leave your car in a potentially flood-affected area. Water can quickly seep in and cause extensive damage to both the engine and the interior.
  4. Check Your Insurance Policy: Some car insurance policies include flood cover, but it’s always worth double-checking to ensure your car is fully protected against water damage. If your policy doesn’t cover floods, consider updating it.

What lies ahead

 The BBC is predicting more rain is on the way and authorities continue to stress caution. Keep updated with local flood alerts and avoid travelling through affected areas where possible. If you’re in a flood-prone area, stay prepared, take protective measures, and don’t hesitate to seek support when needed.

We’re here to support you

If you have been affected by the storms and flooding, you don’t have to navigate the recovery process alone. We are available to offer support during these difficult times. Whether you need to make a claim, what to check your cover or would like insurance advice, please get in touch.

You can call our London team on 0203 002 9859 or email pcl@jameshallam.co.uk.

What is Financial Failure Insurance for Tour Operators?
What is Financial Failure Insurance for Tour Operators? 800 466 James Hallam

This post is your essential introduction to financial failure insurance for tour operators. We will discuss what financial failure insurance is, how it works, and what it covers. We will also explore how you can ensure that you are fully covered for financial failure, and other risks.

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 Financial Failure Insurance?

Financial failure insurance is specialist cover for tour operators and travel agents. It provides a cost effective means of meeting your insolvency protection obligations, so you can comply with your ABTA or PTR requirements to put measures in place to protect their customers’ money in the event that your business ceases trading.

As part of their membership of the Association of British Travel Agents (ABTA), travel agents and tour operators have certain obligations concerning insolvency protection. The UK Package Travel Regulations (PTR) imposes similar obligations.

How Does Financial Failure Insurance Work?

In the unlikely event that you cease trading, you may not be able to refund customers for tours and packages they have previously booked with you. Financial failure insurance can provide your customers with a cash settlement, meaning that your customers will not lose any money.

This arrangement can also free up some cash flow for you, which may help your business to manage through periods of economic uncertainty.

Financial failure insurance works like any other policy, in that you pay a premium for your cover, either upfront or on a monthly basis. The premium you pay will vary depending on the nature of your business, the types of tours and packages you offer, and your risk level as a travel agent or tour operator.

Do I Need Financial Failure Insurance?

Under the 2018 Package Travel and Linked Travel Arrangement Legislations, it is against the law to sell travel packages without an appropriate level of insolvency protection in place. You can meet the requirements through entering into bonding arrangements as part of your ABTA membership. However, it can be a lot more cost-effective to instead invest in bespoke financial failure insurance cover.

How Much Does Financial Failure Insurance Cost?

If you purchase a financial failure insurance policy, the premium will be calculated based on your unique requirements and risk-profile. This means that you can expect exactly the level of cover you need at a price that meets your budget.

Dedicated financial failure insurance also provides greater peace of mind for your customers. If your customers know that their money will be safe, no matter what happens to your business, then they may be more likely to book with you.

How To Ensure You Are Fully Covered For Financial Failure, and Other Risks

The best way to ensure you are fully covered for all the risks you will face as a tour operator is through working with an insurance specialist who understands how you work, and what you need.

At James Hallam, we have provided dedicated insurance services 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. This can include financial failure insurance, yet we will 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 Insurance Do Property Developers Need?
What Insurance Do Property Developers Need? 800 500 James Hallam

Property developers need a diverse range of insurance products to cover the various different aspects of their projects.

In this post we will explore the insurance cover you need as a property developer to ensure you are adequately covered for all risks. We will also discuss the benefits of choosing owner controlled insurance programme (OCIP) for your property development business.

Essential Insurance For Property Developers

Property development insurance policies should include cover for:

  • Construction All Risks – Cover for physical loss or damage to the contract works, whether caused by fire, flood, or other incidents.
  • Delay In Start-Up – If your project takes longer than expected, your clients could lose revenue, and could make a claim against you. Delay in start-up insurance provides cover for any financial loss following such delays.
  • Third-Party Liability – Cover for any third-party property damage, or any third-party accidents or injuries, sustained as a result of your project.
  • Public Liability – Cover for any damage to public property, or any accidents or injuries sustained by members of the public, as a result of your project.
  • Existing Property – If the property development project is a renovation of an existing property, you will need cover for any damages caused to the existing structure stemming from your project.
  • Employer’s Liability – If you employ any staff, you have a legal requirement to get employer’s liability insurance, to cover your workers for any accidents or injuries they sustain on the job.

Additional Insurance Property Developers May Need

Depending on the nature of your project, you may need some additional cover. Specialist property developer insurance products include latent defects cover and rights of light cover. For example, if your project involves repairing a church in England or Wales, you may have a legal obligation to get chancel repair liability cover.

Why You Should An Choose Owner Controlled Insurance Programme (OCIP)

Some property developers allow contractors and other third parties to arrange the insurance cover for development projects. This is a risky approach, as there is no guarantee that you will get all the cover you need. The best way to ensure your project has adequate cover for all risks is with an owner controlled insurance programme (OCIP).

This essentially means that the property developer has full control over the policy and the associated costs. This way, you can guarantee that you will have full cover for every aspect of your project. On top of this, the added control means you can get exactly the cover you need at the best possible price. As well as avoiding the risk of underinsurance, you will also avoid paying extra for any unnecessary overlaps in premiums.

Finally, getting your insurance on an OCIP basis can result in more straightforward claims processes. Often, it means you will only have to make a single claim on a single policy, and any payments will be made directly to your business.

Talk To James Hallam About Your Property Developer Insurance Needs

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals. We know that no two property development projects are ever quite the same, and we are committed to getting you the cover you need at a price you can afford.

Talk to us, and we can help you ensure you have enough cover to protect your project, at a truly competitive price. We will take the time to understand your risks so we can tailor a flexible property developer insurance package that offers full cover at outstanding value.

Get in touch for a free quote today.

How to Prevent Ticketing Fraud for Tour Operators
How to Prevent Ticketing Fraud for Tour Operators 800 533 James Hallam

Ticketing fraud is a growing threat for consumers, and for any business that includes events and experiences as part of travel and tour packages.

In this post we will explore what ticketing fraud is and explain why it is a problem for tour operators. We will also discuss some best practice guidelines that will help you protect your business and your customers against the risks of ticketing fraud.

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

What is Ticketing Fraud?

Essentially, ticketing fraud is the practice of selling fake tickets for events or experiences. Fraudsters tend to target consumers with offers for tickets to major events, such as football games, festivals, or concerts.

Often, fraudsters will intentionally target events for which there was a high demand for tickets, but which have already sold out. People might be willing to pay any amount for tickets to such events. Yet with ticketing fraud, the tickets they buy may not actually exist.

How Much Does Ticketing Fraud Cost Consumers?

Action Fraud reports that ticket fraudsters rob their victims of up to £4 million a year.

Does Ticketing Fraud Affect Tour Operators?

Though ticket fraudsters are most likely to target individuals, tour operators may also fall victim to their scams. You may want to offer a travel package to an overseas concert or football game, for example. And in doing so, you will have to buy a ticket for the event in question. Or, you may book tickets for flights or other transport on your customers’ behalf.

What if the ticket you buy, which you will then offer to your customers, does not actually exist?

Why is Ticketing Fraud a Problem for Tour Operators?

Imagine offering your customers an unmissable experience as part of a travel or tour package. The customer shows up on the day of the experience, only to be told that their ticket is fake. It is not valid, and it never was.

Or worse, imagine if you sell a customer a ticket for a flight, or a different kind of travel connection, only for them to find that this ticket does not actually exist. This customer could then be stranded in a foreign country, miles away from anywhere.

Understandably, this customer will not be happy. But who do you think they will blame for the situation? The unscrupulous fraudster who sold the fake ticket to you? Or you, the apparently trustworthy tour operator who offered the fake ticket as part of a package?

Customers use tour operators because they take all of the stress and hassle out of making travel arrangements. They need to be able to trust that they are getting the best possible service from you. If anything serves to break this trust, it could be devastating for your reputation. Also, the customer may choose to take legal action against you, which could prove a lot more costly than a refund.

How Tour Operators Can Protect Against Ticketing Fraud

Various consumer rights resources offer numerous tips for staying resilient against the threat of ticketing fraud. While these guides are generally written for individual consumers, the general principles for avoiding ticketing fraud scams are the same for travel agents and tour operators:

  • Only ever use official channels to buy tickets. Ideally, you should work directly with venues, transport companies, and official tour promoters. This is the best way you can be sure that the tickets you buy, and which you will later offer to your customers, are genuine.
  • Look out for fake websites and emails. Be wary of spelling and grammatical errors in emails and on websites, and check website URLs for subtle signs that they might not be the site they claim to be – such as slight misspellings of brand names.
  • Make sure you are actually buying a ticket, rather than a promise of a ticket. This could be a physical ticket, with various watermarks and other signs to indicate that it is genuine. Or it could be a digital ticket with a QR code you can scan to check its authenticity. You should not expect your customers to collect their tickets from “representatives” outside venues.
  • Remember, if something appears too good to be true, then it probably is. Be wary of any individual or company claiming to have tickets for popular events that have already sold out. Also, be wary of anyone who appears to be offering a low price for an event, or a journey, that you know to cost significantly more. This may not be a bargain; it may literally be a steal.

Is Your Travel or Tourism Business Covered For Ticketing Scams?

Typically, Professional Indemnity cover specifically excludes claims arising from fraud.  However, there are dedicated commercial crime policies that provide protection against forgery of tickets and fraud.

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.

Freeholder Insurance Responsibilities and Duties
Freeholder Insurance Responsibilities and Duties 800 534 James Hallam

If you are the freeholder for a property, you may have certain duties and responsibilities when it comes to insurance.

In this post we will outline the key freeholder insurance responsibilities and duties. We will also explore a recent change in the law, and outline how this might affect you as a freeholder.

Key Duties and Legal Responsibilities For Freeholders

The Landlord and Tenant Act 1985 and the Landlord and Tenant Act 1987 outline some key legal obligations that apply to all freeholders – that is, the party who owns the land on which a property is built.

These legal obligations include:

  • Repairing and maintaining the building structure.
  • Cleaning and maintaining any communal areas in the property, such as hallways, stairs, lifts, and doors.
  • Setting and collecting ground rent and service charges.
  • Delivering management reports to leaseholders to outline how ground rent and service charges are spent.

Do I Need Freeholder Building Insurance?

Your leasing arrangement may stipulate that, as a freeholder, you need to get suitable building insurance for your property. Additionally, your local council regulations might specify that you need some form of protection in place for your tenants. Getting adequate cover might also be a key requirement of your mortgage arrangement.

Yet even if you do not have a legal responsibility to get insurance, it remains essential that you get suitable cover for any potential loss, damages, or legal issues.

The Risk of Inadequate Cover

Without adequate cover in place, you might be personally liable for any losses or damages arising from incidents at your property. Even a small claim can come with a huge financial cost.

Specialist insurance provides freeholders, leaseholders, and tenants with essential peace of mind that everything will be taken care of should anything ever go wrong.

What Type of Insurance Do Freeholders Need?

You might see freeholders building insurance referred to as “block of flats insurance”, or “multi-unit dwelling insurance”. In any case, it is a specialist form of cover for property owners who provide accommodation for multiple residents.

You should be able to get a bespoke policy that is tailored to meet your specific needs as a freeholder. Yet most policies will include cover for the following:

  • Structural damage, including subsidence.
  • Flooding, whether caused by burst pipes, escape of water, or otherwise.
  • Loss of rent.
  • Alternative accommodation for tenants, should your property become uninhabitable.
  • Break-ins, vandalism, and theft.
  • Public liability and third party liability – for claims involving accidents or injuries sustained while on or near your property.

New Multi Occupancy Rules on Residential Properties

The FCA recently introduced new multi occupancy rules on residential properties, which came into effect on 31 December 2023. These changes affect both leaseholders and freeholders.

Essentially, the new rules require insurance firms to be more transparent when providing key information to leaseholders and freeholders.

These changes apply to multi-occupancy residential buildings including multi-tenanted leasehold properties, buildings converted into individual flats, and mixed commercial and residential occupancy buildings. They may bot apply to Houses in Multiple Occupancy (HMOs).

For more information, contact your insurer.

Talk To James Hallam About Your Freeholder Insurance Needs

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

Talk to us, and we can help you ensure you have enough cover to protect your freehold property at a truly competitive price. We will take the time to understand your risks so we can tailor a flexible freeholder building insurance policy that offers full cover at outstanding value.

Get in touch for a free quote today.

cargo

Institute Cargo Clauses A, B and C Differences
Institute Cargo Clauses A, B and C Differences 700 469 James Hallam

There are three different types of institute cargo clauses in marine insurance: A, B, and C.

This post will explain what each clause entails, before exploring some of the key differences between them, to help you decide what sort of cover is right for you.

What Are Institute Cargo Clauses?

In a marine insurance policy, institute cargo clauses specify what is covered, and what is not covered, if a shipment is damaged or lost.

How Do Cargo Clauses Differ?

The different institute cargo clauses essentially outline just how much cover the policy provides. Clause A policies offer the most comprehensive cover, while Clause C policies are a lot more restrictive.

What Are The Different Institute Cargo Clauses?

In short:

  • Clause A – The most extensive cover. This policy will provide cover for almost all potential risks, and any exclusions will be made clear in the policy wording. Clause A policies come with the highest premiums among the three clauses.
  • Clause B – Intermediate cover for a moderate premium.
  • Clause C – Highly restricted cover for the lowest premiums among the three clauses.

Institute Cargo Clause A

This is the broadest possible cover for your shipment. A Clause A policy may also be referred to as an “all risks” policy, as it will cover your cargo, its container, and your vessel for the majority of the risks you may face at sea. Any exclusions to the cover will be clearly outlined in the policy.

As it is the most comprehensive form of marine insurance, Clause A policies will invariably cost a lot more than Clause B and Clause C policies.

Institute Cargo Clause B

A Clause B policy is a lot more restricted than a Clause A policy. Rather than covering your entire cargo for “all risks”, a Clause B policy provides “named perils” cover. That is, cover for a specific set of risks, which might include loss or damage as a result of fire, explosion, collision, water damage, and so on.

Institute Cargo Clause C

A Clause C policy provides the most limited cover, yet this results in lower premiums. Usually, while Clause A and Clause B policies might cover a broad range of risks, Clause C policies will only cover situations that occur during carriage. This might include loss or damage caused by fires, explosions, collisions, sinkings, and so on.

What Cargo Clause is Right For Me?

It all depends on the nature of the cargo you are shipping, and the shipping route you use.

If you are shipping cargo on a safe shipping route, and the cargo has a relatively low value while carrying no inherent risks (such as risk of fire, explosion, or degradation), then even the basic coverage of a Clause C policy might be sufficient.

Yet if you feel you are likely to face risks that are not covered by a Clause C policy, you will need to instead choose a Clause B or Clause A policy. Clause A will provide the highest possible level of cover, but this will come at a price. If a Clause A policy provides cover that feel surplus to your requirements, then you may be able to get by with the intermediate level of protection provided by a Clause B policy.

Get Comprehensive Maritime Insurance Cover From James Hallam

If you cannot decide what sort of marine insurance policy is right for you, then we are here to help. Everard Insurance Brokers are the specialist marine trading division of James Hallam Limited who are accredited Lloyd’s brokers. We have a dedicated team of experienced insurance professionals who are committed to protecting your business and we have a deep understanding of every aspect of the maritime industry, and the various insurance implications.

We specialise in offering tailored marine insurance cover. Talk to us about your requirements, and we will help you decide whether you need a Clause A, Clause B, or Clause C policy.

Find out more about our specialist marine insurance services.

Storm Lilian Update
Storm Lilian Update 1000 667 James Hallam

Storm Lilian is forecasted to arrive on Friday, with Northern England, Wales, and parts of Southern Scotland expected to be the hardest hit. With potentially dangerous gusts on the way, we encourage you to take a few precautions.

Take Precautions Now to Minimise Risks

We recommend checking your property for any last-minute fixes that could help reduce potential damage.

  1. Secure Outdoor Items: Bring in or tie down garden furniture, bins, and any loose items that could become projectiles in strong winds.
  2. Inspect Roof and Gutters: Check for loose or damaged roof tiles and clear gutters to prevent water buildup.
  3. Check Windows and Doors: Ensure all windows and doors are properly sealed and locked to prevent wind and water from entering.
  4. Trim Trees and Shrubs: Cut back any overhanging branches that could break and cause damage during the storm.

We are Here to Help

If you suffer damage from the storm, our team is ready to support you. You can call our London team on 0203 002 9859 or email pcl@jameshallam.co.uk

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.

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