INSURANCE N BRIEF. i n s u r a n c e b r o k e r s Issue No.6 Autumn 2013

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1 INSURANCE N BRIEF i n s u r a n c e b r o k e r s Issue No.6 Autumn 2013 Contents Are your fleet insurers fighting your corner when it comes to motor claims? Insurance Fraud: Don t Be a Victim Professional Indemnity Cover Workplace Wellness Programme Benefits of Vehicle Tracking Systems

2 Welcome to the Autumn 2013 edition of Insurance in Brief Insurance in Brief aims to make you aware of the insurance related issues which could impact on your business. In bringing these issues to your attention, we hope to help ensure your business is adequately protected and that costly consequences are avoided! Champion Insurance Brokers is now in its fourth year of trading and although no longer a start-up company, we still pride ourselves on the friendly and swift service that we provide to our clients to allow them to manage their risks cost effectively. Additionally, as part of Willis Commercial Network we have significant influence and leverage in the market place which helps to ensure that we have access to the widest range of insurance products and services, our premiums remain competitive and our clients claims get paid. In this latest issue of Insurance in Brief, we introduce our brand new service for motor fleet policy holders, Motor Fleet Claims Defensibility Training. We also discuss fraudulent insurance claims, consider why professional indemnity cover is not just for accountants and solicitors and outline the benefits of wellness programmes and vehicle tracking systems. If you would like to discuss any of the topics within the newsletter or have any insurance related queries, please do not hesitate to get in touch on Dan Maloney BA (Hons) ACII Chartered Insurance Broker Managing Director Champion Insurance Brokers

3 Are your fleet insurers fighting your corner when it comes to motor claims? Champion Insurance Brokers has launched a brand new service, aimed at minimising motor claims costs and reducing premium spend for businesses with commercial fleets. Our Motor Fleet Claims Defensibility Training is designed to assist commercial fleet owners who feel let down by their motor fleet insurers, believing they do not stand their ground and defend their motor claims adequately. The common perception is that insurers prefer to concede liability and settle claims, to avoid the risk of expensive court costs. In reality the claims process is often not fully understood, meaning that through no fault of their own, motor fleet policyholders are not providing enough information and evidence in sufficient time to their insurers, to enable them to defend a claim successfully. The insurers therefore often have no choice but to concede liability or settle the claim on a 50/50 basis. How can our training help? Delivered by experienced Road Traffic Accident claims experts, our training ensures that the relevant people within your business have a detailed understanding of the claims process. It includes practical advice on how you can minimise your motor claims costs and in turn, reduce your premium spend. Our training is fully tailored to your business and areas that can be covered include: - Your obligations under the law of negligence - Guidance on driving at work policies, driver screening and risk assessments - Advice on which accidents to investigate, when and how - Practical, group sessions using your own accident investigation paperwork If you think your business could benefit from this valuable training and would like to find out more, contact us today on or info@champion-insurance.co.uk

4 Insurance fraud: don t be a victim i n s u r a n c e b r o k e r s Fraudulent insurance claims are on the rise in the UK. The Association of British Insurers (ABI) says that nearly 150,000 fraudulent claims were uncovered by insurers in The ABI also claims that fraud adds 50 a year to insurance premiums -which means honest clients like you are footing the bills for those who cheat the system. The City of London has found one way to combat insurance fraud. In January 2013 the police began a new programme supported by the ABI that will target organised insurance fraud. The Insurance Fraud Enforcement Department (IFED) will not only investigate those who commit the fraud but also those who enable it, such as doctors who write false diagnoses. The IFED will also work to inform the public that insurance fraud is a crime, and that those who commit fraud will be prosecuted. Other ways that insurers are fighting fraud include new technologies such as video surveillance. Fraudsters will sometimes fake an accident - such as a car crash - to substantiate their insurance claims. Insurers can use video evidence from the increased surveillance to prove that the claims are false. Here are our recommendations to help you prevent insurance fraud: If you or your employees have been involved in an accident that seems suspicious, first contact your insurance broker, and the police. Note as many details about the scene as possible, including the vehicles and their number plates, apparent damage, the people involved and their approximate ages. Sometimes employees will invent or exaggerate a workplace injury. Keep an accurate record of the incident, including written witness accounts, and if possible get a copy of the employee s medical records. If you think you ve been victim to a scam, contact the police. You can also report fraud by contacting Action Fraud at or online at To find out how you can help reduce fraudulent insurance claims and protect your business, contact us on or info@champion-insurance.co.uk

5 Professional indemnity cover and why you need it Professional indemnity insurance is no longer just for traditional professionals such as solicitors, architects, accountants or financial advisors. With advances in technology and a shift in the economy from manufacturing-based to services-based business, a whole new market of professionals now need to consider professional indemnity cover. Professional indemnity is appropriate cover for anyone who gives advice, makes educated recommendations, designs solutions or provides any other professional service. This includes professionals such as those in the advertising and marketing, information technology and consulting fields. Even though you may not be required legally or contractually to hold professional indemnity insurance, it will give you and your business peace of mind. Proper cover can protect you from claims involving negligence, defamation, intellectual property infringement, loss of data or documents and more. Professional indemnity can also cover defence costs, damages and compensation. In today s increasingly litigious world, these costs can reach millions of pounds. Protect yourself, your business and your reputation by contacting Champion Insurance Brokers today on for more information about professional indemnity insurance. Consider implementing a workplace wellness programme Are your employees physically and emotionally fit? If not, it could be negatively impacting your bottom line. Decreased productivity, additional safety risks and increased claims are just a few of the many consequences of poor workplace wellness. Although wellness programmes may cost an initial investment of time and money upfront, employers can reap significant long-term benefits, such as the following: Reducing illness absences Decreasing workplace accidents, injuries and claims Increasing employee satisfaction, productivity and competitiveness Increased revenue from high ROI Establishing an employee wellness programme and an overall company culture focused on well-being also demonstrates to employees that you are concerned about them and their safety. Because of this, wellness programmes are seen as a good way to attract and retain a talented workforce. There are many ways to implement a successful wellness programme; one way is to integrate wellness measures into existing safety programmes. For more information about wellness programmes, contact us today on or info@champion-insurance.co.uk.

6 The benefits of vehicle tracking systems Vehicle tracking technology, sometimes known as telematics, has become more sophisticated over the last few years - and also more popular. Telematics systems are more than just devices that can locate vehicles. They provide valuable data to managers about their drivers. Many systems track how vehicles are being driven, how many hours are spent on the road and even what routes are taken. Managers can now obtain more accurate reports about vehicle conditions, fuel consumption and who their best drivers are. Of course, most telematics systems are expensive. But the benefits can far outweigh the costs; for example, fuel costs can be reduced up to 30 per cent. According to the 2011 Ctrack Vehicle Tracking Survey, fleet operators have also seen 15 per cent reductions in overtime claims. What does this mean? As vehicle tracking becomes more prevalent, more fleet managers and operators are seeing positive ROI from using these systems. For more information call or contact us by info@champion-insurance.co.uk i n s u r a n c e b r o k e r s Champion Insurance Brokers can arrange a wide range of insurance policies to suit your individual needs. High Value Household and Motor Insurance Public/Products Liability Employer s Liability Business Interruption Contractors All Risks Commercial Property Owners Landlords Insurance Unoccupied Properties Motor Fleet Professional Indemnity Directors and Officers Commercial Combined Marine Cargo Credit Insurance Office Package Shops and Salons Motor Trade Personal Accident Travel Insurance Champion Insurance Brokers Limited 1 Worsley Court, High Street Worsley, Manchester M28 3NJ t f e. info@champion-insurance.co.uk w. Champion Insurance Brokers Limited is part of the Champion group: