Archive for the ‘Uncategorized’ Category

Reminder that Insurance Premium Tax increases on 1st November

Monday, October 12th, 2015

On the 8th July 2015, George Osborne, Chancellor of the Exchequer, delivered his Summer Budget for 2015 to Parliament. One of the most controversial and unexpected measures of the Budget was Osbourne’s 56 per cent increase to the Insurance Premium Tax (IPT).

Changes to the standard rate of Insurance Premium Tax (IPT) will mean that on the 1st November it will raise from 6% to 9.5% obviously meaning an increase in premium.

Terrorism Risks

Thursday, July 23rd, 2015

With the current increased threat from ISIS terrorists, terrorism is once again high on the agenda.

The Terrorism risk has never really gone away but it has been changing.

The perception of a Terrorism risk is probably that this will only affect London but this may no longer really be the case.


Law Commission Reforms

Thursday, June 4th, 2015


“Insurance underpins a healthy and prosperous society. It enables businesses and individuals to protect themselves against risk. However insurance contract law is out of date and no longer reflected the realities of today’s commercial practices.

The Provisions of the Insurance Act 2015 will modernise the law; balance more fairly the interests of insurers and buyers; and provide a framework for an effective, competitive and trusted business insurance Market” Stephen Lewis, Law Commissioner


Flood RE the long term flood insurance solution in the UK

Wednesday, January 21st, 2015

In 2011, the Association of British Insurers formally recommended Flood Re as a long term flood insurance solution in the UK. After lengthy discussions between the Government and the insurance industry an outline agreement was reached in June 2013. Royal Assent was gained less than a year later in May 2014 and the ABI is working hard to get Flood Re established in the summer of 2015.
The Flood Re Scheme will be a not for profit flood reinsurance fund, owned and managed by the insurance industry and established to ensure the highest risk domestic properties can receive affordable cover for the flood element of their household property insurance.

Data Breaches

Wednesday, January 21st, 2015

Over the last 12 months the reported instances of a’ Data breach’ have soared.
What is Data Breach ?
A data breach usually involves financial information such as credit card or bank details, personal health or personally identifiable information being stolen or lost and sensitive, protected or confidential data is copied.

There are also more and more examples of companies having their I T systems hacked in to .


Architects must construct better businesses to avoid ruinous claims !

Tuesday, October 28th, 2014

Architects could face claims that Put them out of business if they don’t fully understand their responsibilities
•Increasingly complex projects demand new skills, including better risk management
•Brokers can add value by helping their clients avoid common pitfalls

As the UK economy grows, architects can look forward to a healthier construction sector. But firms still face intense competition along with pressure to innovate and increase standards.


Professional Indemnity new minimum premiums

Wednesday, October 15th, 2014

Hensure Business Insurance is pleased to announce that the underwriters behind their on-line scheme have recently done a review of their rating structure and have reduced their minimum premiums in a number of areas.

It has now possible to buy professional Indemnity Insurance for some of the lower indemnity limits at the following premiums , subject to qualifying criteria.


R K Henshall and Co Ltd achieves Chartered Status

Monday, September 22nd, 2014

The Chartered Insurance Institute (CII) has awarded the prestigious ‘Chartered Insurance Brokers’ title to RK Henshall & Co Ltd, one of the area’s leading providers of insurance advice and support.

Chartered status is an exclusive title only awarded to firms which meet rigorous criteria relating to professionalism and capability. All Chartered Insurance Brokers commit to the CII’s Code of Ethics, reinforcing the highest standards of professional practice in their business dealings.


Professional Indemnity Insurance Market News

Tuesday, September 2nd, 2014

There have been some changes over the last year or so to various insurers strategies when it comes to writing Professional Indemnity Insurance Risks.

Aviva pulled out of the Professional Indemnity Market over a year ago and let over £ 20,000,000 of Premium lapse off their books .They  Insurer did not believe that this was a viable line of business for them anymore in light of a poor performing book.


Do You have a Disaster Recover Plan ?

Tuesday, September 2nd, 2014

When a crisis strikes, having a well thought out disaster recovery plan in place can make a huge difference as to whether your business survives or not.
Swift decisive responses can see your business emerge from a crisis with its reputation in tact & enhanced.  The key is to establish a solid disaster recovery plan and you should consider worst-case scenarios and put strategies in place that are essential to deal with a sudden disaster.

A Disaster Recovery Plan should cover:-
*Acts of Terrorism
*Natural Disasters & Severe Weather
*Social Media Activism & Defamation
*Medical Emergencies
*Criminal Activities or Violence
*Outbreaks of Infection &
*Hazardous Materials