Research from the BDRC Landlords Panel has revealed that landlords are not taking out suitable insurance on their rental properties and thus experiencing losses from uninsured void periods. Mark Long, director at BDRC Continental, spoke about the issue.

Mr Long explained that if a renter falls into arrears or ends a tenancy there would be a void period for the landlord. The BDRC research indicated that 37% of landlords experienced such a period in the third quarter of 2012, and that 47% of those properties then remained empty for over 40 days, leading to a significant loss of income for the landlords.

Furthermore, 47% of landlords encountered arrears in the same period, and the average amount owed was £2,366. Mr Long added, “Our research shows that only five per cent of landlords hold void period cover, meaning that almost a third of landlords are experiencing voids and have no means of protecting themselves against it.”

Reacting to the research, David Hudson, Director of leading Manchester commercial insurance brokers Buckland Harvester, said: “Times are good for landlords rights now. Rental rates are high, along with the demand, while property prices are relatively low at the moment. However that doesn’t lessen the need to be insured against all of the potential negative elements and costly incidents that could occur at any time.”

“Direct Line for Business conducted research that showed nearly 20% of UK landlords were uninsured, and the costs of repairs and labour on their properties was double the cost of an average landlord insurance policy. It just makes sense to be fully prepared.”

David concluded: “Landlords need to check they have the right type of insurance policy for their property, as rental properties are a completely different entity to standard homes. Also, if it’s right for them, they should consider a suitable landlord insurance policy, as it covers for the unexpected such as an unexpected loss of income.”

If you are concerned about insurance on a rental property or you landlord insurance policy please contact Buckland Harvester directly via Buckland Harvester at www.bucklandharvester.co.uk

Geoff Williams, director of Manchester-based loss assessors Cherry and Griffiths gives some sound advice on how to protect your business against flooding.

As we are presently experiencing, the UK is a wet country. Our green and pleasant land is at the mercy of weather systems which are capable of picking up huge amounts of water from the Atlantic Ocean and delivering it onto our towns and countryside.

If your premises are by or on a river or other watercourse you have certain rights and responsibilities as a riparian owner under laws which came into force in 2012. Riparian means simply “of, on, or relating to the banks of a natural course of water”, and you may not have known that it is you may have a duty of care extending to the middle of the river or canal!

Even if you live miles from these water sources, you may still be at risk from surface water, groundwater aquifers, drainage or sewer flooding. However, the management of flood risk from surface water, groundwater and minor rivers and streams is the responsibility the local authorities. In general, the risk from surface flooding is extremely difficult to pinpoint and is also on the rise, possibly due to a reduction of natural urban drainage from gardens.

Flooding may occur in places not previously known to be at risk, which is why having your own flood plan is often a sensible precaution.

The management of risk from drainage and sewage overflow is the duty of water companies. If you have reason to believe your home or business is at danger from these types of flooding, you should contact these agencies as they may become the party liable if you ever need to put in an insurance claim for flooding.

I Think I’m at Risk of Flooding. What Should I Do?

After you have checked the Environment Agency (EA) flood maps and had a look at the resilience of your property, the next priority is insurance. The EA works under an agreement with the Association of British Insurers (ABI) (http://www.abi.org.uk) to try and ensure that the vast majority of properties can be insured against flood risk.

What Should I do About Flood Insurance?

In areas where the risk of flooding is considered ‘significant’ (a more than 1 in 75 annual chance of flooding) but where Flood Defences are due to be improved within five years, ABI members will continue to provide cover, and this includes owners of new-build homes. In areas of significant risk where no improvements are planned, insurers cannot guarantee to insure a property but will work on a case-by-case basis to seek preventative or remedial measures and enable cover to be obtained.

For advice and help if you have been affected by the floods, Contact Geoff Williams at Cherry and Griffiths Independent Loss Asseessors via www.cherryandgriffiths.co.uk

For help with protecting your business you may want help. Contact an experienced Insurance specialist at www.bucklandharvester.co.uk

First, perhaps we should understand what underpinning is. Buildings are generally supported on concrete foundations which transfer the weight of the building into the ground in such a way that the building does not subsequently move.

However, if the condition of the ground changes for whatever reason, then to avoid continuing movement, the weight of the building needs to be transferred, usually downwards, to more competent soils.

The extension of the original foundation is referred to as underpinning.

Stuart Thornhill, Partner at Jonathan Cornes Associates, Chartered Building Surveyors said; “Underpinning can take several forms, but at its simplest, it is the removal of the poor soils and replacement with mass concrete. The extent of such work and the depths to which it goes should be designed by a structural engineer. This work is subject to building regulations and therefore details should be submitted to the local authority.”

He continued “Building Control will undertake inspections during the works, as a consequence there should be a public record of the works that have been undertaken.”

Therefore, underpinning is an indication that a property has had at some point in its past problems with structural movement and remedial measures taken.

It should therefore follow that such a property presents less of a risk of future problems; probably less so than its neighbour that has not been underpinned.

Stuart said “In my opinion the idea of buying an underpinned property should not be discounted as a possible purchase.”

To understand will help in assessing the structure. In my view a survey of its current condition assessing how it has performed since the underpinning is critical.

This along with professional advice will allow an informed judgement to be made. Insurers can have rather closed minds to such issues but by carrying out the above buildings insurance can usually be obtained.

Alternatively, you may seek a continuation of cover from the existing insurers.

If you require advice concerning a property that has been underpinned or may be in need of underpinning, please contact Stuart Thornhill at Jonathan Cornes Associates via www.jcassociates.co.uk

With figures confirming that cybercrime is the fastest growing crime in the UK, the Government has announced new measures to help arm businesses with tackling this increasing threat to their companies.

Some of the UK’s most senior business leaders are to be given specialist guidance on how to protect their businesses from cyber threats and how to protect valuable assets such as personal data, online services and intellectual property.

The Cyber Security Guidance for Business has been produced by the CESG (the Information Security arm of GCHQ), the Department for Business, Innovation and Skills and the Centre for the Protection of National Infrastructure (CPNI) will help the private sector minimise the risks to company assets. It builds a key aim outlined in the Government’s Cyber Security Strategy to work hand in hand with industry and make the UK one of the most secure places in the world to do online business.

The guidance consists of three products and includes information on risk management and corporate governance, as well as anonymous case studies based on real events.

Business Secretary Vince Cable said: “Cyber security threats pose a real and significant risk to UK business by targeting valuable assets such as data and intellectual property. By properly protecting themselves against attacks companies are protecting their bottom line.

“Ensuring this happens should be the responsibility of any chief executive or chair as part of an approach to good corporate governance which secures a business for the long-term.”

Cybercrime currently costs UK businesses £21billion every year and at least 50% of these attacks are aimed at small and medium-sized businesses.

Commenting on the BIS’s plans, David Hudson, Managing Director of leading Manchester commercial insurance brokers Buckland Harvester, said: “First and foremost, businesses need to ensure they have sufficient security systems and firewalls in place to protect the sensitive information they store on computers and develop a strategy for deterring hackers to avoid being targeted all together.

“Insurance companies are continually developing fresh products which take account of the emerging threats to businesses arising out of e-commerce and internet technology but businesses also need to think carefully about how best to protect their assets should the worst happen. This means seeking out a comprehensive business insurance product which covers them for such a cyber invasion.”

For help protecting your business from cybercrime, contact Buckland Harvester at www.bucklandharvester.co.uk

More employment tribunals have been avoided thanks to a new service setup to resolve issues before they escalate, new figures reveal.

The latest annual report published by workplace experts ACAS shows demand for its early dispute resolution service ‘Pre-Claim Conciliation’ (PCC), rose by a third (34%) in 2011/12. The organisation dealt with 23,777 cases during the period – 6,000 more cases than the previous year. This has resulted in thousands of people avoiding the need to go to an employment tribunal.

Pre-Claim Conciliation was launched in April 2009 and aims to resolve workplace problems before they result in a costly and stressful employment tribunal claim. This year’s figures highlight that the number of cases that don’t go on to become an employment tribunal claim increased to 78 per cent from 74 per cent last year. Unfair Dismissal is the most common problem handled through PCC, followed by claims about wages, breach of contract, holiday and disability discrimination.

The success of PCC has led to the Government proposing that anyone intending to make an employment tribunal claim should come to Acas first. The new service, called early conciliation, will start from 2014.

Ed Sweeney, Acas Chair, said: “It’s very good to see that more people are resolving disputes earlier by using our pre-claim conciliation service. Our new early conciliation service will mean that disputes will be referred to Acas before a tribunal claim can be lodged and I hope it will build on the success of PCC when it’s introduced in 2014.

“Acas helps reduce the cost, stress and time involved in disputes at work. Our latest annual report proves that where individuals, businesses, unions or their representatives use Acas conciliation, positive results are achieved in the majority of cases.”

Commenting on the figures, David Hudson, managing director of leading Manchester commercial insurance brokers Buckland Harvester, said: “The fear of an employee bringing a claim against their business is enough to put off many entrepreneurs from taking on staff in the first place which obviously prevents growth and expansion. Anything which can halt a lengthy and costly employment tribunal has to be welcomed and businesses should seek specialist advice on their HR policies to ensure they minimise the risk of this happening.

“Employment law insurance is becoming critical to modern day businesses because of the financial and commercial consequences of a claim and the increased threat it poses to firms. These products cover your legal liability following a dispute and not only cover your legal costs and expenses they will also pay any civil award of compensation brought against you. It’s an area which should never be overlooked.”

Property Aspects thank Buckland Harvester for their expert advice in compiling this article.

Please contact them here Buckland Harvester Website

Recent research by a damage restoration business has revealed burst pipes, leaking taps and fire damage are the most common commercial property insurance claims across the UK. Water escaping from burst pipes or leaking taps is the most common commercial property claim, at 36% according to new research by damage restoration experts, ServiceMaster Clean.

The second highest cause of property destruction according to the research is fire, at 24%, with flooding from heavy rainfall at 23% and accidental damage from unforeseen and unintentional spillages and breakages at 19%. Vandalism delivered the lowest results accounting for just 3%.

Malcolm Holmes, head of commercial support for ServiceMaster Clean said: “Dealing with fire, flood or building contamination is a specialised discipline which is separate from general building repair work. Businesses should look for a contractor that is a member of the British Damage Management Association, ensuring the restoration works are compatible with loss adjuster and insurer processes. If businesses act quickly and use an expert restoration service, buildings can be safely restored with minimum disruption caused”.





Premises affected by flood damage take the longest time to restore, at approximately 37 days, as specialists need to extract water, remove odour, dehumidify the property and restore carpets and upholstery. Fire damage takes approximately 36 days, whilst vandalism can take up to twelve days, depending upon the scale of the damage. Accidental damage is usually the quickest to restore at approximately four days.


 


Geoff Williams from Manchester Based Loss Assessors Cherry and Griffiths said; “By taking precautions, many cases of damage to buildings can be avoided, preventing the distress, damage and financial costs of property damage“.

“However when a business is affected by water damage, there’s more than just the cost of the building at stake. The jobs of staff are often under threat and the livelihoods of a whole string of suppliers. It’s essential that loss estimates are comprehensive and cash recovered as quickly as possible to protect employment and prevent business failure, many Businesses have never made a claim before, so it is sometimes advisable to contact the professionals before process a claim with your insurance company”.

Victims of flooding in the UK have been warned to be careful about processing their own insurance claims, and seek advice from independent loss assessors to maximise their settlements.

Geoff Williams a loss assessor with Manchester based Cherry and Griffiths said: “There is nothing to stop people processing their own claims, but if they make mistakes, they can be extremely costly”.

Geoff said “The public is not usually familiar with the difference between a loss assessor — an independent professional, working within the terms of your policy to get youa fair settlement — and a loss adjuster, who works for an insurance company, and is not obligated to inform you about any additional cover that you may have”. He added “For example, the loss adjuster puts through the claim, stating that there is structural damage and water damage to the ground floor and your contents; he is not required to state anything more than that,” he explained.

“But the loss assessor may point out other things; water damage in places you hadn’t thought of and in fixtures and fittings; smoke damage upstairs and the smell that goes with it; maybe some of the joists have been weakened or damaged; and he may also point out problems that might occur further down the line,” Mr Williams added.

“The biggest mistake people make is not reading and understanding their policy, and how to determine the extent of the damage, and understanding the value at risk. With regard to floods, you have to look beyond primary issues. The house may be destroyed, but you may also have subsidence, structural damaged, rising damp,” he explained.

Please contact Geoff Williams at www.cherryandgriffiths.co.uk

For advice on insurance protection against flood damage speak to Buckland Harvester

Visit www.bucklandharvester.co.uk Call them on 0161 830 1284

A fire, flood or burglary could be a major threat to the future of your business. You may have lost valuable equipment, machinery and stock, or you may even be unable to use your premises. In these circumstances, it’s unlikely that you’ll be able to trade normally, which means you’ll be losing money every day.

In most cases, you’ll be able to claim for these losses on your business’ insurance policy. However, business interruption insurance claims are rarely straightforward. The process can be complicated with many potential pitfalls to avoid, so it’s vital to get a Commercial Loss Assessor on your side as soon as possible.

Manchester-based Cherry and Griffiths claims consultants and loss assessors are experts in commercial insurance claims handling and two of their directors have substantial experience working for insurers as Chartered Loss Adjusters – gamekeepers turned poachers!

It’s professional loss assessors have a wealth of technical and legal knowledge, making them better placed to deal with your property insurance claim on your behalf and improving the outcome for your business.

Unlike many firms of loss assessors, Cherry and Griffiths do not shy away from contentious or difficult claims and instead actively market their ability to deal with such matters. This means that whatever stage of the claims process your business is at, they will always come ON board if appropriate and fight it on your behalf.The Manchester-based lfirm have built up a track record of taking over claims which other loss assessors have been unable to resolve – achieving the desired outcome for their clients.

Geoff Williams, director of the North West’s leading professional loss assessors, said: “We have worked with many businesses that have faced these challenging situations, acting as their representative and ensuring their best interests are met. Our advice and support has helped minimize their losses and maximize the settlement received from their insurance company as WELLl as referring the matter to the Financial Ombudsman Service and/or working with solicitors on behalf of our clients.

“If you’ve already got the ball rolling on your insurance claim but are finding yourself swamped with paperwork, phone calls and site visits, there’s no time like the present to appoint an experienced loss assessor on your behalf. From then on, you’ll only need one number – ours – as we’ll take care of the rest”.

Two companies that could be helpful to you:

Cherry and Griffiths, Loss Assessors: www.cherryandgriffiths.co.uk

Buckland Harvester, Insurance Specialists: www.bucklandharvester.co.uk 0161 830 1284

Every Business minded person knows that to succeed in business you need to have the confidence to let go occasionally, and allow somebody more suitably experienced and qualified to deal with an issue at hand.

Many successful businesses realise the value of outsourcing non-key resources to an outside company, particularly when there’s a level of expertise involved that cannot be found internally within the business. When a company is affected by water or fire damage, the same should apply so that instead of you grappling with complex policy wording and legal jargon, at a time when your focus should be on the clean-up operation, you hire an expert to protect your rights and maximise your chance of success.

The value of appointing a professional loss assessor has never been so high. Insurance companies will notoriously draw upon legal loop holes and policy short print to try and wriggle out of claims and unless you have experience within the insurance industry, you’ll find it incredibly difficult to negotiate. The value of fire damage to businesses every year far exceeds the settlements paid out by insurance companies, which means hiring a loss assessor to oversee your property insurance claim is the only sensible option.

As a business, you can appoint a loss assessor to take on your insurance claim at any time. However, the way a claim is prepared and presented is just as critical to the outcome as the way it is negotiated and eventually settled which means it’s far better to appoint a loss assessor as soon as you discover the damage.

Geoff Williams, director of Manchester-based loss assessor Cherry and Griffiths, said: “We would always encourage businesses to get in touch with us right away so we can move things along quickly but it’s never too late. At Cherry and Griffiths, we willingly take on difficult and contentious claims and actively market our ability to deal with such matters.

“Whether it’s the preparation of a complicated accountancy-based claim or disputing legal issues which arise out of policy wording, our professional loss assessors are in the best possible position to represent your business and recover the settlement required”.

For help with your insurance claim check out www.cherryandgriffiths.co.uk

For help with an adequate insurance policy go to www.bucklandharvester.co.uk

Property insurance is all the same right?

Wrong.

Choosing the protection for you and your property based on price alone could see you later being thousands of pounds out of pocket.

By spending a few minutes checking a few key points you could save yourself time and money later down the line.

David Hudson, Managing Director, at Buckland Harvester, a leading provider of specialist property insurance in Manchester, has put together a 5-point checklist, that if followed should help ensure you get the correct cover.

The Buckland Harvester checklist

• See when the property was last valued and get the rebuild cost, not the market value

• Make sure the policy is index-linked (5 years compounded without indexing can leave a gap of over 15%)

• Ask your broker for a summary of the small print (a good one will happily do this)

• Ask if loss of rent covered for less than 3 years

• Keep your insurers up to date with tenants

Following these simple checks doesn’t take much effort, but it is important that your investment is properly covered.

Failure to do so could mean that your big investment leaves you with an even bigger headache.

For help and advice please contact Jolene Shaw at Buckland Harvester on 0161 830 1284