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James Hallam, Watford’s very own specialist insurance brokers is delighted to announce that its nominated charity, the Watford Workshop has been awarded a fantastic grant of £25,000 by the Aviva Community Fund.

The cheque was presented to them by Phil Bayles Managing Director Aviva Intermediaries and Will Greenwood OBE.

The Aviva Community Fund is designed to help and improve the delivery of locally based community projects through a series of grants with this year’s total prize pot totalling £261,000.

This year, over 180,000 votes were cast to identify projects that could best benefit their local communities and in total, 81 finalists were shortlisted to receive grants of between £500 – £25,000.

The Watford Workshop was nominated by James Hallam’s’ Watford Office and was one of just three national finalists to receive the highest award of £25,000.

“It was important for us to nominate a community project that reflected our business ethos” says Paul Trainor, Divisional Director of James Hallam. “As soon as you walk through the door you can see how the Workshop is transforming lives and making a real difference to our local community.

The Watford Workshop is designed to increase the self-confidence and social skills of adults with learning difficulties and disabilities. Real work experience and skills training helps to improve both their self-esteem and qualifications and as such improve their opportunities for mainstream employment.

What will the grant be used for?

The Watford Workshop is a hugely valuable local community asset but like similar community projects is heavily oversubscribed. Its ability to deliver its program and meet demand is severely restricted by the limitations of its building. The grant will go towards the building of a brand new mezzanine floor, thereby increasing the Workshop’s capacity and ability to help even more local people.

“The awarding of this grant is a really significant moment for the Workshop” say Linda McIntyre CEO of the Watford Workshop.

“We would like to thank the Aviva Community Fund for this most generous grant and of course James Hallam’s nomination and continued support”.

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

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.

Seventeen Group announce an increase in revenue from £12,556,884 in 2016 to £16,369,740 in 2017 and a growth in EBITA to from £1.59 million to £2.32 million for the corresponding period.

In terms of the revenue growth of £3.8M approximately £500K related to acquisitions whilst the balance was organic growth across each of the businesses.

Ongoing investment continued during the period which is expected to deliver further growth in 2018 and beyond.

Commenting on the results, Group CEO Paul Anscombe adds “2017 represented a very solid performance by the Group with all three subsidiaries achieving organic growth. The acquisitions made in 2016 and 2017 have integrated exceptionally well and feel very much ‘part of the family’. Seventeen Group is seeing an increasing number of opportunities to grow and we are in an excellent position to capitalise upon this as a long established and completely independent insurance business”.

In 2018 Seventeen Group has completed four further acquisitions:

Complete Insurance Solutions – acquired in February 2018 and based in Dalbeattie

Total Insurance Services – acquired in February 2018 and based in Dalbeattie

Rupert Burgoyne – acquired in February and based in Sussex

Everard Insurance Brokers – acquired July 2018 and based in Kent

In addition to the above acquisitions, James Hallam is launching a new Healthcare & Protection Division in September 2018 and Touchstone Underwriting are continuing their regional expansion in response to growing broker demand for their products.

Our CEO spoke at the BIBA 2018 conference, on a panel session regarding how customers are at the heart of the broker business. The regulator spoke at a panel session on how customers are at the heart of the broker business at the BIBA conference. Adding to this, Paul Anscombe raised concerns around how consolidation was affecting customer service:-

https://www.insuranceage.co.uk/broker/3408316/biba-2018-fca-pledges-perennial-client-money-focus

A valuable reference tool for brokers, the Insurance Brokers’ Good Practice Guide has a number of benefits

Whether you deal with a doctor, a solicitor or an accountant, knowing they adhere to a set of professional standards can provide considerable reassurance. To enable their customers to have the same confidence in the service they receive, insurance brokers are the latest profession to introduce professional standards.

But establishing professional standards isn’t a simple task. The first formal work on broker standards started back in 2014 with the creation of the Insurance Brokers’ Standards Council.

Two years later, following discussions with the British Insurance Brokers’ Association (BIBA), it was agreed that, as both were seeking to create a single voluntary code of conduct and guidance, the IBSC should continue as a BIBA committee.

As well as a range of broker members from large global firms through to smaller regional ones, the committee includes representation from the Chartered Insurance Institute (CII) and, to provide legal support and guidance, Weightmans solicitors. It also engages with the Financial Conduct Authority and the Association of British Insurers to ensure they are informed about the standards.

Paul Anscombe, chair of the Insurance Brokers’ Standards Committee (IBSC), says: “The committee brings together external sources of guidance and legislation together with broker input to create good practice standards. Our aim is to produce guidance that will support a broker: rather than have to go off and find all the reference guides themselves, it’s all contained within the standards.”

Good practice guide

Working together in this way enabled BIBA to launch a Good Practice Guide for brokers at its annual conference in May 2017. This contains nine chapters covering areas such as role and responsibilities, corporate governance, clients and employees (see box below).

Each of these chapters explores different aspects of that particular area in greater detail to act as a valuable reference tool. As an example, included in the chapter on role and responsibilities are the BIBA Code of Conduct, the Insurance Act, data protection and guidance in respect of conflicts of interest, transparency and disclosure in the commercial insurance market.

Although comprehensive, Mr Anscombe is keen to stress the standards are designed to provide a benchmark rather than tell brokers how to run their business. “We want brokers to have a guide that shows them what the acceptable standard is,” he says. “There’s nothing stopping them doing better if they want.”

The guide is also designed to evolve over time. “It’s a living, breathing document,” explains Pam Quinn, head of communications at BIBA. “As new regulations come into force and market practices change, the guide will be updated to ensure it stays current.”

Sarah Mallaby, director of broker markets at Allianz UK, comments: “Being a broker is a challenging profession. You have to juggle the demands of running a business with meeting the rightly high expectations of customers, employees and insurer partners, as well as understanding and implementing significant amounts of regulation. Minimum standards that help lay out what is required are welcomed, as professional, well-run, advice-led brokers not only provide a valuable service to their clients, they enhance the reputation of the whole insurance industry.”

Standard benefits

As well as providing a valuable reference tool for brokers and helping to build public trust, the standards have a number of other benefits. Bavita Rai, partner at Weightmans, says they will help to create a level playing field. “There is such diversity in the broking market, with sole practitioners working alongside large global brokerages. This can create inconsistency in service,” she explains. “With everyone operating with the same reference point, the standards will help to ensure consistency. It’s good for the industry and it’s good for consumers.”

Setting standards, especially when the profession rather than the regulator is the driving force behind them, can also improve working practices. “When you set standards you always see people wanting to learn more and differentiate themselves,” says Steve Jenkins, development director at the CII. “As momentum grows, this will make an insurance brokerage an increasingly attractive place to work, helping brokers attract and retain talent. It’s a virtuous circle.”

To support this, he points to the growth in the number of insurance broker firms that have gained corporate chartered status. “Around 200 firms have now gained chartered status,” he adds. “Typically, these are medium-sized firms but we’re starting to see much more interest from smaller firms too.”

The standards will also make it easier for brokers to keep abreast of any legislative and regulatory changes. Mr Anscombe explains: “When a new piece of regulation is introduced there can be overload with training courses, seminars and information from all sorts of interested parties. As this can be overwhelming, especially for a smaller broker, they will be able to use the standards as a reference point.”

Emerging issues

The amount of new regulation set to hit insurance brokers’ corporate governance agendas in 2018 is a perfect example of the scenario Mr Anscombe describes.

As well as the extension of the FCA’s Senior Managers and Certification Regime, which is still under consultation, the Insurance Distribution Directive will be introduced in October. This regulates the way insurance products are sold. Brokers will need to ensure they have appropriate procedures in place around areas such as consumer information, remuneration disclosure, and training and competence.

Broader regulatory changes are also scheduled, with the General Data Protection Regulation (GDPR) coming into effect in May. Ms Rai explains: “Brokers, and their customers, will need to review their data protection processes to ensure compliance. If they’re not compliant, they risk a fine that could be up to €20m or 4pc of annual global turnover.”

The implications of Brexit is also on many brokers’ agenda this year. As well as potentially affecting their ability to carry out business across the EU, it could also affect their clients’ insurance requirements.

But, whatever’s thrown at the insurance broker market, having standards that can evolve and adapt to changes in regulation and sentiment will provide considerable confidence to brokers and their customers.

To read the story on The Telegraphs website, please follow the link: https://www.telegraph.co.uk/business/risk-insights/insurance-brokers-professional-standards/

Arts 4 Dementia is honoured to have been selected by Seventeen Group’s London office as its Charity of the Year for 2018.

Seventeen Group, an insurance and risk management organisation made up of subsidiaries James Hallam, 4sight Risk Management and Touchstone Underwriting, has committed to a year-long fundraising partnership with the award-winning charity.

The partnership will see staff from their London teams take part in fundraising and volunteering activities to support Arts 4 Dementia, generating vital income and increasing awareness of the benefits of arts engagement for people living with dementia and their carers.

Paul Turner, Executive Chairman, Seventeen Group said: “At Seventeen Group we are delighted that our City team have chosen to support Arts 4 Dementia this year.　To address a challenge that affects so many in such a creative and embracing way brings back the fun that can too easily drift from those that have so much more to give.”

Nigel Franklin, CEO of Arts 4 Dementia, said: “As a small but growing charity, having the support and commitment of Seventeen Group and their fantastic workforce is a huge step forward for what we can achieve. Ultimately, this means that we’ll be able to help more people living with dementia, their families and carers, and to make dementia training more widely available for arts providers across the country.

“We have already received a great response from employees looking to fundraise for us and we are really looking forward to working with the London teams throughout the year.”

###ENDS###

Media Information

For media queries and for further information about partnership opportunities with Arts 4 Dementia, contact Nigel Franklin or Imelda Dooley Hunter on 020 7239 4954.

Notes to Editors

Arts 4 Dementia develops innovative arts programmes to re-energise and inspire people in the early stages of dementia and carers, helping them live better for longer at home. Its website uniquely signposts arts events nationwide for people living with dementia; and it offers early stage dementia awareness training for arts providers and facilitators. The 500-plus workshop leaders trained to date are reaching well over 10,000 people living with dementia each year.　 A4D focuses on what people can achieve – often very much more than they imagine. The charity looks to assure the availability of local arts opportunities across art forms for families affected by dementia, wherever they may be in the UK, and through its website assure that those in search of such opportunities can easily find them.

Founded in 1982 Seventeen Group is a privately owned multi-disciplined insurance and risk management organisation. We work closely in partnership with insurers, funders and other business affiliates to identify future opportunities. The Group includes James Hallam Limited, Touchstone Underwriting Limited and 4sight Risk Management Limited.

This is the first time the charity has been selected by a corporate partner as its charity of the year.

[For the A4D webpage] Sign up to the Arts 4 Dementia newsletter or follow A4D on Facebook, Twitter or Instagram　to keep up with Seventeen Group’s fundraising achievements.