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A Burning Issue
Published : July 09, 2009 | Author : admin | Unrated |
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 Fire damage is on the up and is costing the insurance industry millions in claims every day. Allister Smith describes how businesses should reduce fire risk by implementing an appropriate management strategy.
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Scaling back may be detrimental
Published : April 29, 2009 | Author : admin | Unrated |
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| Business Interruption (BI) cover has often been viewed as a luxury and one of the first insurance policies to cancel when times are hard. However, it is essential for a company to survive a damaging incident or general loss of business.
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Suppliers are a crucial part of the business chain
Published : March 05, 2009 | Author : admin | Unrated |
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| Just before Christmas. Zavvi, a retail chain selling CDs and DVDs etc, went into administration because its major supplier, a subsidiary of Woolworths had also gone bust and could not supply goods in the crucial pre Christmas period. It was not possible to source an alternative supplier at short notice. For Zavvi, which was subject to an earlier MBO, this blow, on top of a mountain of debt, was the final straw. The episode highlights the vulnerability of some businesses in the current climate to events occurring outside of their control and the need to not only look at the risks of a customers getting into financial difficulties but also suppliers as well. Whilst it is possible to insure against defaults of customers, only limited insurance protection is available for suppliers.
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A time to check the basics
Published : March 05, 2009 | Author : admin | Unrated |
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| In times of recession, crime increases dramatically. Some commentators anticipate a doubling of burglaries and fraud and computer crime is expected to grow substantially. Arson by disgruntled ex employees increase and housekeeping and expenditure on health and safety and risk management tend to reduce as costs are contained. The cumulative impact of all these pressures is likely to increase claims and premiums for businesses affected and in the worse scenario result in withdrawal of insurance cover or a demand to substantially increase precautions at high costs.
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Random Pick |
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The commercial property market will become increasingly divided into two tiers over the next two years, with the prime sector stabilising while the rest "languish", according to an expert. |
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