It is essential that brokers review their clients liability limits to ensure that they are high enough to protect their business
In the wake of the Discount Rate reduction for personal injury compensation, Miles Smith London Market Broking has created an EL and PL excess of loss facility, for brokers to offer to their clients. We have also created an easy-to-read guide for you to send to your clients, which highlights why this additional cover is required and the risks they might face in light of underinsurance.
Click below to download a copy.
This facility offers:
Excess employers’ and public liability cover with indemnity limits up to £30m *
Lloyd’s ‘A’ rated security at competitive prices
Standalone policies following the primary wording
Ability to follow most primary insurers
Long term policies to enable common renewal date
Fast quote turnaround
* Higher limits available on request
Please contact the broker relationship team to discuss this further
OUR BROKER RELATIONSHIP TEAM WILL BE AT BIBA ON WEDNESDAY 10TH MAY AND WOULD BE DELIGHTED TO DISCUSS OUR EXCITING NEW SCHEMES AND EXISTING FACILITIES WITH YOU. PLEASE CONTACT YOUR DEDICATED BROKER RELATIONSHIP MANAGER TO ARRANGE A MEETING.
Miles Smith London Market Broking is one of the largest independent London Market Brokers, with the largest and most driven broking team in the motor fleet and casualty markets. We place substantial premium into the London Market and, by using us, you benefit from the influence that brings. Specialists in schemes and facilities, our products offer unique cover and exclusive access for risks often beyond the capability of local composites.
Please contact your dedicated Broker Relationship Manager to arrange a meeting at BIBA 2017.
Information about the British Insurance Brokers Association (BIBA) and their annual conference, held on the 10th and 11th May this year.
THE DEDICATED MINI FLEET TEAM WITHIN MILES SMITH LONDON MARKET BROKING UNDERSTANDS THAT SMALL FLEET BUSINESS IS ABOUT RETENTION AND COMPETITIVENESS AND BELIEVES THAT THIS CAN BE THE SPRING BOARD FOR WRITING YOUR CLIENT’S PORTFOLIO
We have in-house underwriting authority, and can provide competitive quotes in a timely manner.
The key features of our mini fleet scheme include:
fleet rated or NCD conversion
fast quote turnaround
negotiable commission levels
electronic policy documents
in-house finance available
Conditions of Miles Smith’s mini fleet policy:
own goods only
minimum 2 vehicles
19 years of age minimum
maximum vehicle weight of 44 tons
Benefits of Miles Smith’s mini fleet policy:
exclusive policy wording
unique, suspended drivers licence clause*
personal effects cover – £1,500*
loss of keys cover – £1,500*
medical expenses – £500*
audio/security/sat nav – £2,000*
(*please refer to documentation for full wording)
Miles Smith is one of the largest independent London Market Brokers. When placing business through us you not only benefit from the substantial premium we place into the London Market from the influence that brings, but also from the largest and the most driven broker team in the motor fleet and casualty markets.
The waste industry in numbers
The following statistics are provided by the Governmental Statistical Services (UK statistics on waste – December 2016 update), and are the most recent available, with reference periods ranging from 2010 up to 2015.
- There is an EU target for the UK to recycle at least 50 per cent of household waste by 2020; in 2015 the UK recycling rate was 44.3 per cent
- In 2014 the UK generation of commercial and industrial (C&I) waste was 27.7 million tonnes, which fell from 32.8 million tonnes in 2012
- The UK generated 202.8 million tonnes of total waste in 2014. Over half of this (59.4 per cent) came from construction, demolition and excavation, with households responsible for a further 13.7 per cent
- Of the 209 million tonnes of waste that entered final treatment in the UK in 2014, 44.5 per cent was recovered (including recycling and energy recovery). The proportion that went to landfill was 23.1 per cent, with the remainder going to backfilling, land treatment and release into water bodies and incineration
- There have been over 400 pieces of EU legislation over the last 20 years with regards to environmental risks
Environmental liability insurance
The Association of British Insurers (ABI) defines environmental liability insurance as,
“Environmental liability insurance (ELI) covers the cost of restoring damage caused by environmental accidents, such as pollution of land, water, air, and biodiversity damage.”
Businesses in the waste and recycling sector are inherently exposed to environmental liability risks. In addition to possible contamination at companies’ own facilities, environmental damage affecting other properties or persons can result in claims from third parties, local authorities and environmental regulators. This includes damage to air, land, water, protected species and natural habitats. Often it is the legal costs of defending alleged losses which produce the significant costs and exposure to businesses.
Waste and recycling businesses are susceptible to unlawful abandonment of material on site by other parties for which they may be found liable.
Whilst general liability and property insurances provide some cover against pollution risks, it is fair to say that the potential liability of most companies operating a recycling plant or transfer station are beyond the realms of even the widest general public liability and property policies, and the cover available in respect of pollution is narrowing as the gap between environmental law and liabilities widen.
Environmental liability policies have developed over time, and the cost has reduced significantly in recent years as more companies have entered the market. Covers can be tailored to meet individual business requirements with limits readily available up to £20m and policy terms available for up to 10 years.
Covers may include:
- clean-up costs imposed by regulators, including those incurred by the regulator itself
- remediation of own premises, third party premises, land, water and natural resources (including loss of use and diminution in value)
- liability arising under the Environmental Liability Directive
- prevention costs
- historical contamination
- transportation risks
- business interruption
- legal costs
- site investigation, emergency response costs, restoration costs and compensation
- contractors’ liability
- contractual liabilities in sale and purchase agreements
- lenders’ requirements
- change of law
How Miles Smith can help you
This can be a complex insurance to arrange, and it is vital that the business receives the best advice on how best to mitigate any potential exposure. It is also important to dovetail with any other policies that may offer some limited cover in respect of pollution insurance, such as property and casualty insurances. If the covers are placed in conjunction with the business’s total risk management portfolio, then savings could be made elsewhere.
HAPPY EASTER FROM ALL AT MILES SMITH!
This Easter Miles Smith have partnered with FareShare a UK based charity who save good food, destined for waste and send it to charities and community groups who transform it into nutritious meals for vulnerable people.
To find out more about the work FareShare do, follow this link http://www.fareshare.org.uk
Please feel free to download this as a PDF
Disease is not necessarily the first thing that would spring to mind when thinking about the risks associated with heating and ventilation contractors but the likelihood of exposure from work undertaken is up in the air. Asbestos, legionella and, most topically, carbon monoxide poisoning are only one breath away.
The dangers of asbestos have been known for many years now. The first legislation was in 1969 although the full ban on the use of asbestos in construction was not until 1992 when the use of white asbestos was added to the ban of blue and brown asbestos from several years earlier. Exposure though is still likely, especially in the heating and ventilation sector where work is carried out in old buildings.
Where exposure is likely employees should be given asbestos awareness training. The need for such is demonstrated by a successful legal case in 2015 where a contractor removed old lagging not realising that asbestos was present and therefore not taking any precautions. This not only left himself exposed to fibres but also the household members when the lagging was carried unprotected through the house.
Legionella is the term for a group of bacteria which cause illnesses including Legionnaire’s disease (pneumonia like) and Pontiac fever (flu like). The bacteria needs organic matter to provide nutrients if it is to multiply and this can include rust, sludge, scale and algae. Legionellosis (all illnesses resulting from legionella) is contracted by inhaling infected water droplets and therefore can be a risk inherent with water based air-conditioning. The main risk is from poor design and/or maintenance. The use of air-cooled refrigerant based systems removes the risk entirely.
Carbon monoxide is the silent assassin. Colourless, odourless and tasteless, it is very difficult to detect and, according to NHS analysis in 2011, this results in 4,000 visits to A&E, 200 hospitalisations and 50 deaths a year, and this is just England and Wales. Symptoms include nausea, headaches and dizziness but prolonged exposure can lead to death.
Carbon monoxide is produced when carbon based fuels do not burn fully due to a lack of oxygen. The main cause of such poisoning is faulty heating or cooking equipment through either not being properly installed or maintained or poor ventilation.
The use of wood and coal burning systems is a lot less than it used to be so the main heating culprit these days is gas. Under the Gas Safety (Installation and Use) Regulations 1998 for a firm to legally undertake gas work they must be on the Gas Safe Register (previously CORGI). However, there are many illegal gas fittings firms and it has been estimated that 5 million homes are at risk in the UK due to unsafe gas work by illegal fitters.
The exposure for all three of these diseases is present in the industry but can be dramatically reduced by training, risk awareness, risk assessments and Gas Safe registration.
Have you got the right cover?
Exposure cannot totally be removed however and that is why suitable insurance for employers’ liability, public / products liability and professional indemnity is essential.
A standard liability insurance with most insurers will have an asbestos exclusion. This will be a full exclusion on the public / products liability but because of compulsory legislation, usually there will be an inner limit of £5,000,000 for asbestos claims under the employers’ liability section. Under such standard cover there would not have been protection for the 2015 claim mentioned above because the claim for any asbestos related disease to the third party family members would be excluded.
It is possible to obtain an accidental asbestos discovery extension to public liability insurance which should be sufficient unless asbestos removal is also undertaken in which case a full asbestos cover would need to be arranged.
Legionella may be excluded under a public / products liability insurance but it should be possible to arrange an extension for this cover provided precautions and risk assessments are undertaken.
There is no standard UK exclusion for carbon monoxide poisoning so there is no need to purchase an extension. It is possible that it may be construed as pollution and this will depend on how pollution is defined in the policy e.g. is there a specific reference to noxious fumes. However, whilst UK public / products liability policies do have a pollution exclusion, pollution arising from a sudden, identifiable, unintended and unexpected incident occurring at a specific time and place is covered by most policies. If not regarded as explosion then carbon monoxide poisoning should be regarded as a standard public liability or products liability claim.
How Miles Smith Can Help
Our building and engineering services contractors combined insurance is aimed at heating and ventilation contractors. The public / products liability section includes extensions for accidental asbestos discovery and legionella, both for a limit of £1,000,000 in the aggregate.
Miles Smith Insurance Group partners with FareShare, the UK’s largest food redistribution charity. Miles Smith is supporting FareShare’s efforts to fight hunger and tackle the problem of food waste across the UK to help those affected by food poverty.
8.4 million people in the UK are struggling to afford to eat (1), which is the equivalent of the entire population of London. At least 270,000 tonnes of surplus food from the UK food and drink industry could be redistributed to feed people each year; enough for 650 million meals (2).
FareShare saves good food destined for waste and sends it to charities and community groups who transform it into nutritious meals for vulnerable people. The food they redistribute is fresh, good quality and in date surplus from the food industry. Last year FareShare worked with 5,589 charities and community groups across the UK, providing 25.8 million meals to vulnerable people.
As well as supporting the charity through donations, Miles Smith will also be giving its employees the opportunity to volunteer at FareShare, sorting and packing food for local charities and community groups.
Miles Smith CEO Paul Chainey said of the partnership, “I am delighted that Miles Smith has partnered with FareShare in their efforts to tackle hunger and food waste across the UK. I greatly admire the work they do, and I am pleased that Miles Smith is able to support them.”
Miles Smith has been providing insurance solutions to recycling and waste businesses in the UK for over 25 years. They are market leaders and operate the longest running waste insurance facility in the UK market.
If you have any questions, or for more information, please contact Sharon Brown, Group Distribution and Marketing Director at Miles Smith on 020 7977 4800.
(1) Food and Agriculture Organisation of the United Nations, Voices of the Hungry, 2016
(2) WRAP, Quantification of food surplus, waste and related materials in the grocery supply chain, 2016
MILES SMITH IS PLEASED TO INTRODUCE HAZ-INSURE, A NEW SCHEME FOR COMPANIES INVOLVED IN THE CARRIAGE AND HANDLING OF HAZARDOUS MATERIALS AND PRODUCTS
This is a sector which demands careful consideration when addressing risk management and insurance needs. Standard insurance policies will often leave gaps in cover for your clients and potential E & O issues for brokers.
Higher limits of indemnity are required for motor, general third party and environmental risks. Gaps between these covers often go unidentified until a loss occurs, for example, the loading and unloading of hazardous materials from vehicles, off road provisions and cross contamination at delivery stage to name but a few.
Insuring hazardous goods is a complex business and heavily regulated. Miles Smith has made it simple with our new Haz-Insure Scheme, irrespective of whether your clients manufacture, store or transport these diverse products as their primary business or only handle them occasionally.
Ambiguity over claims can arise where standard policies with different insurers are utilised, so having cover that dovetails across all the main classes of your client’s insurance portfolio is a must. Haz-Insure has a single insurer handling all the main classes, and with the support of an experienced claims team, you and your clients can rest assured that the recommendations you have made will meet their demands and needs.
That’s why Miles Smith has a reputation for insuring these challenging risks simply and easily with a bespoke scheme designed for these specialist and often complex risk requirements.
We don’t just provide insurance….we provide peace of mind!
Contact our team for more information:
On the 7th April, Lizzie Bailey, who works in the Miles Smith claims team, will be taking part in the Marathon Des Sables in an effort to raise money for the charity Scope, which works to ensure that disabled people have the same opportunities as everyone else.
The above quote is taken from the Marathon Des Sables website; the Marathon Des Sables is a 6 day race, during which participants will run 156+ miles through the Sahara Desert, carrying everything that they need to survive on their back, in temperatures of 50+ degrees centigrade. The race consists of 6 stages, including one stage where participants will be running 52+ miles in one day!
In 2016, Lizzie was awarded one of the Lloyd’s of London Market Charity Awards on behalf of Scope, and Miles Smith is also proud to sponsor Lizzie to support her in her endeavours to complete the ‘toughest footrace on earth’.
To support Lizzie, you can donate money through her Just Giving page. We wish Lizzie all the very best, and look forward to welcoming her back on completion of the race.