Companies 'failing to take out e-crime insurance'

Many businesses do not have a UK insurance policy to cover problems relating to e-crime, a new report states.

The research by KPMG reveals that take-up of cover against such risks is relatively low, despite the growing use of new technology increasing the threat of incidents occurring.

According to the study, 78 per cent of IT security professionals in Britain do not have an insurance policy in place or are unaware of whether or not their organisation has taken out products for e-crime legal costs.

However, 54 per cent of respondents to the survey stated that they had witnessed the threat level posed by hackers grow over the past year.

KPMG UK head of information security Malcolm Marshall declared: "Not many out there know or understand what insurance is available. Many are also sceptical about the effectiveness of current policies."

The UK's Information Commissioner's Office is responsible for regulation of the Data Protection Act and can impose fines of up to £500,000 for the worst breaches of legislation in this area.

For more information on how Quintessentially Covered can help you with your business insurance, Click here.

Small Business Insurance - An Introduction

In the uncertain world of business, insurance is a very important requirement. In a fierce competition, the sudden and unexpected loss of business, particularly just in terms of turnover. Consequently, many small business owners prefer to use small business insurance organizations, which are tailored to their needs. Here are some of the most important policy small business insurance to be used by commercial organizations that are small by virtue of the company turnover, both in terms of timber work.

Property Insurance

Rounds of small business organizations is an important aspect of society. Damage or loss of this work will result in loss of income and obstacles in operations. This tower will affect cash flow inward of the company. Therefore, to cover all possible threats of losing their jobs and tasks, you must have good coverage properties. Short quotes of insurance companies, in such cases, depend essentially on the surface of the property and its market value.

Car Insurance

Many organizations depend on cars for their company. Companies such as tourism and logistics have their activities are concentrated around the sweat of cars and automobiles. In these cases, these organizations must have car insurance. Some entities of small business to large scale such as restaurants or grocery stores, they also pick up small for the supply of goods and service providers. Damage to these business services will stop on all firms. Therefore, aid for trade are generally provided by small businesses.

Health Insurance

Many small businesses own and operate small shops with only a handful of people operating it. The workers of the factories often face such health risks. It is therefore recommended that these organizations provide their employees health insurance policies. There are some insurance policies other than those of the owners themselves can take. For example, the insurance policy that becomes applicable to the owner when he goes abroad on business or visiting one of the covers medical expenses that are incurred by employees during their work. It should be noted that small businesses disease is an important requirement as other related health care costs had medial is heavy and at the same time, can not be ignored.

Liability insurance

There are occasions in which business firms are still some problem or other. If the court's verdict is not in favor of the accused, then the company will pay a heavy compensation as ordered by the court, in a sum or a structured settlement UMP. However, this amount is not small, and therefore also requires a small business liability insurance coverage, which will deal with the colony.
 

For more information, please visit www.QuintessentiallyCovered.com.

What to look out for in Yacht Insurance - Our Top 5

1.       The best cover by far will be a yacht insurance policy that insures all risks and provides cover for all losses, except those which are specifically indicated in the documents as being excluded. Exclusions typically include gradual deterioration, wear and tear, dents, scratches, damage by animals, design defects, manufacturer’s defects and the effects of ice.

2.       A yacht needs to be insured for however much it will cost you to replace it with like quality and kind. This is known as agreed or stated value coverage and in the unfortunate event of an incident which leads to total loss; the insurer will pay the policy holder the full value of the yacht.

3.       Steer clear of insurance which provide actual cash value or ACV cover as these policies will, in the same circumstances only pay out the value of the yacht less depreciation and this could cause you to have a significant shortfall of funds when you are trying to replace your yacht.

4.       Most yacht insurance policies will provide cover that allows anybody to operate your yacht as long as they have your permission to do so. However, it is important to familiarise yourself with the individual policy that you purchase as there are exceptions to this rule.

5.       One drawback with yacht insurance is that very often yachts are only used in the summer months but insurance providers require that the vessel is insured all year round. If this situation applies to you, it is best discussed with your provider to see if they offer a discount for the months that your yacht is out of the water. If they are unable to provide this, it may be worth consulting a specialist broker who can point you in the direction of an insurer who does.

The benefits of a reputable insurer should not be underestimated, the advice they give and experience they offer can benefit yacht insurance policy holders immensely. For more information & advice, go to www.QuintessentiallyCovered.com.

Fleet Car Insurance: Could It Work for You?

Fleet Car Insurance could Work out Cheaper than Individual Vehicle Quotes
It seems as though motorists have been running away from an avalanche of rising insurance prices for the last few years. Early 2012 is looking to add even more snow to the financial crush but for businesses operating multiple company vehicles – there could be chance of rescue in the form of cheaper fleet insurance.

The average price of a comprehensive insurance policy increased by 4.9% in 2011, according to a report in the Metro. Third-party fire and theft policies suffered an even larger incline at 10.2%. Many businesses would be caught up in paying these expensive insurance prices for each individual company car but the savvier business people would have conversed with a broker, who then would have negotiated a discounted deal for all vehicles on the same policy.

Quality fleet insurance deals are designed specifically to cover business vehicles under one blanket policy. It is convenient as much as it is financially sound – the brokers pride themselves on seeking the best value for money policies and have the contacts to do so.

As with most products in this world – buying in bulk often means there is a discount involved. Insuring a fleet of business cars in this way just makes perfect sense. Plus, further discounts could be available through the rapidly improving fleet telematics software, which is now being integrated into certain insurance policies.

The reintroduction of telematics software...
Telematics: The combination of telecommunications and ICT, often applied to remote objects (vehicles) for real-time data monitoring.

Telematics software has previously been used by trucking firms, to track the activity of their vehicles in order to maximise efficiency. Data such as vehicle speed, fuel consumption and GPS location are all sent directly to the headquarters where the supervisors can ensure drivers are sticking to company procedure.

With insurers adopting the technology, drivers can be quoted purely on their driving behaviour – instead of being pigeonholed into a certain demographic group. It is a much fairer way of quoting motorists and it is of particular benefit to businesses running a fleet.

Ian Faulkner, Managing Director at one of the companies developing telematics software, commented on the technology in May 2011, explaining that he expects at least 70% of drivers to have at least tried telematics within the next five years and that it is the brokers who can help people acquire the sophisticated software.

Faulkner highlighted how brokers work with clients and will go through any concerns about the software in order to explain the reasons for quote values. This is contrary to the aggregators who will simply provide a blank price.

Brokers are expecting an influx of business from companies seeking discounted fleet car insurance deals and with further discount potentially available through the integration of telematics software, business people look to be in for a much nicer year in 2012.

Horse Insurance for Beginners: The Cover and the Costs

Horse insurance is just as important as any other type of pet insurance and you will need to know what they cover and their costs. Horse insurance is often called equine insurance (from equus, the Latin name for horse). It is a specialist type of insurance that is usually provided by agricultural insurance companies rather than pet health insurance companies.

Even if you think of your horse as a pet, the ways that a horse is used means that the insurance provisions need to be different from those provided for cats, dogs and other smaller pets. Also, veterinarians often specialize in either small animals or large, farm animals, and horses come into the second category.

However, some equine insurance companies will also insure dogs. You may want to consider having a combined policy if you are one of the many horse owners who has dogs too. You may save some money by having all of your animals covered under one policy.

There are three major classes of risk that you will want to insure against. The first considers a horse as property, and insures you for the value of the horse in the event that it is stolen or suffers accidental death. (Most policies will not cover for your loss in the case of natural death).

The second is third party liability. This covers you in case your horse injures somebody or causes damage to somebody else’s property (including their horses). This may be an unlikely event but the compensation payouts can be high if it happens, so it is definitely something that you will want to have included in your horse insurance policy.

The third main class of risk is health care for your horse. This can cover veterinarian fees if your horse requires unexpected medical treatment. Most policies have strict rules about what is and is not covered here. Some policies only cover treatment for accidental injury, not for disease. Others will cover disease, but not if the horse was already suffering from it at the time that you took out the policy.

It is important to check your horse insurance policy carefully before signing up, to make sure that it includes everything that you expect. There is nothing worse than having insurance companies tell you that they will not cover the costs when you have a potential court case or your horse needs urgent medical care.

In addition, there are always limits on how much you can claim in any situation, and in many cases you have to make a contribution such as paying the first £100 of a claim.

There are so many variables when it comes to horse insurance, that it is very difficult to say how much it will cost without knowing more about your circumstances. Horse insurance rates can differ widely according to your use of your horse and the coverage that you need. A race horse will cost more to insure than a pony that is ridden only by your own kids. This is not only because the race horse is probably more valuable, but also because it is more likely to suffer an accident or injury.

If you have any kind of horse-related business, you will also need to take out a specialist insurance policy that covers the risks of that business. For example, if you are breeding horses, you may want to insure against a valuable stallion becoming infertile. If you run a riding school, you will need liability insurance to cover a situation where a rider may be injured and sues you.

For more information, contact Quintessentially Covered on +44 (0)845 474 9975 or visit www.QuintessentiallyCovered.com 

Vintage Jewellery Cleaning & Care

Buying vintage jewellery often gives you the chance to own something unique and because many of the pieces are costume jewellery they can be bought relatively cheaply. Whether you have bought it as an investment or simply because it just caught your eye, you need to look after and care for it to make sure it survives in the best possible condition for future generations.

Depending on the piece’s age it may already have some minor damage or have been mended in the past. To keep your vintage jewellery looking its best, always wear it with care because vintage jewellery can be tricky to repair. 

Pearls

Pearls often feature in vintage jewellery but pearls can be difficult to keep in good condition.  Pearls tend to flourish and bloom when they are worn regularly because they need the oils from your skin to nourish them and keep them 'living'. If they are not worn, they may lose their lustre so wear them, enjoy them, and they will tend to look after themselves. When cleaning, pearl jewellery never soak in water because it will damage the pearls.

Metal jewellery

Sterling silver jewellery may tarnish over time simply from general wear. If the piece is set with semi-precious stones, pearls or glass - never use a silver dip because this will submerge the whole piece and could cause moisture to get trapped behind the setting. Use a jewellery polishing cloth instead to keep jewellery dust-free.

Cameos

Cameos, shell cameos in particular, can discolour and crack from drying and aging so they require special care. To keep your cameos in top condition, completely cleanse them once or twice a year. To cleanse a cameo, use a gentle soft-bristle toothbrush in a mild soap-and-water solution. Rinse the cameo thoroughly with warm water immediately after cleaning the jewellery. Never soak cameos in any cleaning solution for more than 30 seconds.  It’s also important not to let your cameos dry out because they can begin to crack. Moisturise the cameo with mineral oil or baby oil and let it soak in overnight.

Paste jewellery

A lot of vintage, costume jewellery is made with paste stones. Paste is a collective word used for cut leaded glass that is faceted to resemble gems or precious stones. Paste jewels are often backed by a copper or silver lining. Take care not to get your diamante wet, water behind the stone will ruin the foil and stones become dull, the setting beneath them can go green or they can fall out altogether.  Clean paste set jewellery with a lint free cloth.

Storing your jewellery

To keep your jewellery looking its best always store pieces in a clean, dry place. Try and keep it separate too because you can inadvertently damage pieces by jumbling them altogether in one drawer or big jewellery box. Harder pieces such as diamonds and gems can scratch each other as well as the surface of gold jewellery.

If you can, keep the pieces separately. Whether it is a piece of vintage costume jewellery or something more expensive, if you have gone through the expense of buying the jewellery it makes sense to look after it. Why not buy a nice jewellery case that is designed for safely storing jewellery or, keep it in the original box or pouch it came in?

Don’t forget to insure your jewellery and other valuables in your home contents insurance cover. Check with your insurer because many will apply an overall limit. Individual pieces of jewellery above that limit may need to be specified separately

Cyclists urged to get more insurance by… insurance companies

Cyclists have been urged to get insurance by the Association of British Insurers (ABI), the insurance body whose members last year made a combined loss of £1.2billion*. The ABI warns that failure to get adequate cover could leave cyclists facing high bills if they are injured in an accident or are found responsible for causing one.

Speaking to the BBC ABI spokesman Malcolm Tarling said:

"If you are a cyclist and you are involved in an accident the chance of you being injured are quite high,

"Some 230 cyclists a month are killed or seriously injured on the roads so there is a good chance you are going to be off work for weeks, if not months, so some sort of insurance to cover you for loss of income makes sense."

According to the Department for Transport's reported casualty statisticslast year 111 cyclists lost their lives on Britain's roads with rural roads again proving the most dangerous places to ride. Cycling casualties have though dropped by 30 per cent on UK roads as judged against the DfT's own average based on the casualty rates between 1994-98 at the same time cycle usage has gone up by 20 per cent.

The total numbers of cyclists killed or seriously injured on British roads was 2771 in 2010 of which 2660 were seriously injured (up 56 on the previous year), 4627 cyclists were slightly injured. When judged against the 94-98 average per billion vehicle miles the number of cyclist killed or seriously injured has dropped by 40 per cent, although there was a 1 per cent rise in 2010 over 2009.  In fact it is more dangerous to be a pedestrian on Britain's roads than a cyclist.

So, while cycling  on Britain's roads might not be as safe as we would like it to be it is certainly safer than it was in the recent past.

Mr Tarling went on to tell the BBC that cyclists often underestimate the risks they face  on the roads, in particular if they are in an accident where they are found to be at fault themselves.

"If you are a cyclist and you are involved in an accident and you are at fault for causing it you could be sued for damages," he says.
This could possibly amount to hundreds or thousands of pounds, he told the BBC.

"If you are cyclist you should always have some form of liability insurance. It is essential."

While we would say that personal injury cover and third party liability are definitely things that responsible cyclists should consider it might also be observed that Mr Tarling is possibly over-playing his hand here. According to a DfT study cyclists were found to be a fault in only 7 per cent of the incidents they were involved a fact reflected in the low premiums for such insurance.

If you are injured by another road user and they are at fault your expenses will be covered by their insurance company, if they don't have any insurance you can claim compensation through the Motor Insurer's Bureau a body funded by the insurance industry to compensate the victims of uninsured drivers. However, it should also be said that this is likely to a slow process and the compensation on offer may not fully compensate for your loss or suffering.

If you are unsure of the level of cover that you have as a cyclist it is first worth checking whether any of the extras provided in your home and contents policy or with any other insurance policies you hold. Some, though by no means all home contents cover includes bicycles, in some cases the cover is quite generous and will extend to use out of the home too. Likewise some home insurance will include personal injury cover and/or personal liability cover too again though there are big differences in the level of cover provided.

If you don't have any cover or you think the insurance cover you do have there are a number of insurance companies like us offering policies which you can tailor specifically to your needs. Some form of insurance is also part of the package when you take out membership of cycling organisation such as CTC - third party cover; British Cycling third party cover + accident cover depending on membership type; or the London Cycling Campaign - third party and public liability cover. All of those organisations also offer extra insurance  for you, or your bike.

*Source UK Insurance - Key Facts (pub: ABI, Sept 2011)