As new figures from the EEF (The Manufacturers Organisation) reveal growth in manufacturing output and orders, insurer RSA is warning companies that have downsized during the recession to prepare for the risks that a sudden surge in big and untypical orders will bring. Often manufacturers base their raw material, machinery and employee numbers on existing customers and retained contracts. Since the middle of 2007, manufacturing orders have decreased significantly, resulting in substantial job cuts and site closures. Consequently, while any large...  Lire la suite

Lowest premium is key insurance buying factor as insurer and broker advice is undervalued according to QBE Survey. Key points 75% of UK SMEs say competitive price is key factor in buying business insurance A third would rather buy business insurance direct, rather than via a broker Only 16% of UK SMEs will look to the insurance industry for advice in the first six months of 2010 UK SME’s feeling the pinch QBE’s third survey of small and medium sized enterprises (SMEs) identified that the majority, 75%, of UK SMEs view a competitive price...  Lire la suite

Broker insurer MMA Insurance has joined forces with RiskSTOP, the leading provider of independent risk management services, to provide risk management assistance to MMA policyholders. The service will also support brokers in the development of a quality book of SME business. The partnership comes into force in January 2010 and will see RiskSTOP undertaking site and questionnaire-based surveys and managing the implementation of risk improvements on behalf of MMA Insurance. Initially the service will be available to MMA’s Commercial Combined customers...  Lire la suite

UK businesses have to beware of the increased risk of equipment failure and breakdown as the coldest winter in over a decade continues according to HSB Engineering Insurance. A number of schools and businesses have been affected by failed boilers and HSB is already reporting an increase in queries relating to equipment malfunction associated with cold weather. To minimise the potential for equipment breakdown, HSB is advising businesses that heating systems should be kept operating at all times – running at low setting during off-peak times to...  Lire la suite

The British Insurance Brokers’ Association (BIBA) is calling on the Government to do more to ensure that small businesses survive a major incident such as a fire, flood, act of terrorism, or a pandemic such as swine flu, particularly during the current economic downturn. Independent research commissioned by BIBA has revealed that 45% of businesses have no, or at very best, rough plans to deal with the effects of flood or storm damage. This is despite the £3billion of flood claims from 2007 and that 80% of businesses affected by a major incident...  Lire la suite