Buildings should always be insured for the amount it would cost to rebuild them. However, fewer than
one in ten commercial properties in the UK are covered correctly.
If you are over-insured you are probably paying too much for your buildings insurance. If you are underinsured, you face a reduced payout in the event of a claim. Insurance claims can be reduced by hundreds of thousands of pounds due to underinsurance.
Getting someone to visit your property to carry out a professional assessment can be time-consuming and very expensive. However, thanks to Verlingue’s partnership with RebuildCostASSESSMENT.com they can offer you a reliable low-cost service from a ‘Regulated by RICS’ (Royal Institution of Chartered Surveyors) organisation.
You’ll receive a comprehensive Rebuild Cost Assessment (RCA) report guiding you on how much you should insure your buildings for. This is a fantastic and affordable online service that can protect your
organisation from the potentially severe consequences of underinsurance.
Price: £114.79 excl VAT
Email Verlingue at: stephen.aldridge@verlingue.co.uk
Or phone them on: 07557264091
In this month’s edition of ‘Insurance Insights’, we are delighted to showcase the Legal Advice Helpline and Markel Business Hub: Your 24/7 Legal Companion, available exclusively to members of the BHTA Insurance Scheme.
The Business Hub provides materials created by solicitors and business advice experts covering topics such as employment, property, tax, contracts, health and safety, data protection and cyber security.
It offers:
Easy Access for Policy Holders
If you already purchase your insurance through the exclusive BHTA Insurance Scheme, please contact Stephen Aldridge, our BHTA insurance expert, on 07557 264091 or email: Stephen.Aldridge@verlingue.co.uk. Steve will guide you through the registration process. Please ensure you have your policy number to hand.
Contact us today
Don’t miss out on this benefit! If you are not already purchasing your insurance through the exclusive BHTA Insurance Scheme, contact Stephen Aldridge on the details above to find out how we can help your business.
Verlingue has provided BHTA members with an exclusive insurance scheme for 25 years. We have worked closely with BHTA to understand their Members’ diverse requirements and designed an Insurance Scheme to provide the protection the Members need.
New ‘Navigate’ Platform
On Monday 29th April 2024, the MID underwent a transition to a new, more streamlined platform called Navigate.
As a result of this change, all users will need to set up an account on the new platform. In order to do this, you will receive a login link and instructions from noreply@identity.mib.org.uk.
Once you have received your link, you will need to create a new password with two-factor authentication to access the new platform.
Please note that only the primary email account will be automatically updated, and additional users will need to register as new users. For those MID accounts with inactive or locked users, we advise you to immediately update these to ensure you receive the link.
All vehicles currently registered on the MID platform have been automatically migrated to the Navigate platform.
Guides and Further Support
You can find helpful online guides provided by the Motor Insurance Bureau:
If you would like to speak to our insurance expert to find out more about motor fleet cover or discuss how the BHTA Members Insurance Scheme can help your business, please contact Steve on 07557 264091 or email : Stephen.Aldridge@verlingue.co.uk.
Verlingue has provided BHTA members with an exclusive insurance scheme for 25 years. We have worked closely with BHTA to understand their Members’ diverse requirements and designed an Insurance Scheme to provide the protection the Members need.
Did you know there are additional, free of charge services included as part of the Scheme?
When you purchase your business insurance under the BHTA Members Scheme, you automatically have access to a range of free additional services.
One of these free services is Debt Recovery.
The service provides legal assistance to help you to recover outstanding debt from a customer who is delaying payment or simply refusing to pay.
It will also extend to provide legal representation should a case go to court.
So, how do you access this free service?
A simple call to a dedicated helpline will put you through to Markel Law – the Scheme’s in-house solicitors – who will undertake and review the case. The solicitors give you advice on how to secure payment and, if required, combat any counterclaims.
For more information on the BHTA Insurance Scheme…
This service is available exclusively as part of the BHTA Members Insurance Scheme, so we would encourage you to contact our Scheme specialist – Stephen Aldridge – if you would like further information on how the Scheme could assist your business.
Stephen can be contacted on 07557 264091 or by email on Stephen.Aldridge@verlingue.co.uk.
Do you have an innovation that you would like to bring to market but are unsure of what financial support is available to help turn your idea into reality? Or have you recently launched a new innovation to market but did not receive funding that you were eligible for?
A range of generous and valuable financial grants and investments are available to UK businesses of all sizes to support the development of game-changing and industry-shaping ideas. However, understanding what support is available, and navigating the often-complex criteria to access funding, can make it difficult for SMEs to take advantage?
In our upcoming free BHTA presents… ‘Grants and funding advice – Making innovation affordable’ webinar, Simon Day, Head of Funding at Markel Tax, will share his expert insights and advice to help you access grant funding.
On 22 June 2022 from 11am to 12pm, Simon will cover how businesses can receive additional grants and funding for activities that occurred in the past (R&D tax credits), activities occurring in the present (Grant funding) and the future (Patent box).
This session will help you understand grant funding available to UK SMEs, in particular:
• Understanding the different R&D grant funding available, with a focus on Innovate UK and European
• Understanding capital grants
Held in partnership with Verlingue UK and Markel Tax, this will be a live session so you will also have an opportunity at the end of the presentation to ask your questions directly to Simon and the panel.
If you cannot attend, be sure to register anyway to receive a copy of the slides and recording after the event.
About the speaker: Simon Day, Head of Funding at Markel Law
Simon created the Markel Funding Team in 2014. Before joining Markel, Simon was the Director of Innovation and Writing for an Engineering Consultancy. He created a new business practice to make new product development (NPD) affordable for SMEs. Product offerings include; claiming tax credits for past R&D, winning R&D grants for technically high-risk projects, winning grants to commercialise new products and winning grants for capital equipment. Projects have been technically very broad, ranging from the development of charging infrastructure for electric vehicles to fully articulating myo-electric prosthetic hands.
Over the last 20 years, Simon has personally written and negotiated contracts for many R&D grant-funded projects with budgets ranging from £100,000 to £5.2m. The funding bodies included the European Commission, SBRI, DASA and Innovate UK. In total, over £400m in grant funding has been secured for clients.
As a member of the BHTA, your company can access an exclusive insurance package from Verlingue UK,
which includes access to Markel’s award-winning Grants and Funding service.
The British Healthcare Trades Association is kick-starting 2022 with its third ‘BHTA presents…’ webinar this January, exclusively providing members with expert advice regarding handling the sometimes difficult and delicate process of debt recovery.
Knowing how to handle late payers and debt recovery can be critical for business success. On the 26th January at 11am, BHTA will host a free one-hour webinar entitled ‘Dealing with debt recovery difficulties in 2022’.
Held in partnership with Verlingue UK and Markel, the session will be led by industry expert and practising solicitor Mark Rankin, Head of Commercial Services at Markel Law LLP, which has its own dedicated debt recovery function.
Problems with late payments and non-payments can cripple businesses of all sizes, impacting cash flow and draining resources. Unfortunately, the recent Covid-19 disruption has exacerbated this.
Last year, the government estimated the figure for late invoices owed to small firms across Britain in October 2021 was £23.4 billion. And, according to the FSB, 62 percent of small companies in the UK have experienced late payment at some point or other.
Providing invaluable insights and tips to help overcome these issues, Mark will equip you with the knowledge to handle payment disputes in an effective way.
The session will cover:
• The first steps to take when an invoice is outstanding
• How to manage the debt recovery process without destroying client relationships
• Your legal options if an invoice remains unpaid
*Please note: Registration to this webinar is only available to members of the BHTA
About the speaker
The session will be delivered by industry expert Mark Rankin, Head of Commercial Services at Markel Law LLP. Mark leads the firm’s dedicated debt recovery team.
A practising solicitor since 2009, Mark joined Markel Law LLP in May 2020 from a leading international firm. He provides contentious and non-contentious legal advice to businesses; to protect them and to help them grow. The architect for Markel’s award-winning debt recovery service, Mark now oversees the service for members of the BHTA who enjoy the benefits of the exclusive BHTA Insurance Scheme.
As a member of the BHTA, your company can access an exclusive insurance package from Verlingue UK,
which includes access to Markel’s award-winning debt recovery service.
The British Healthcare Trades Association is hosting its second ‘BHTA presents’ webinar in mid-November, providing members with the knowledge to overcome the new workplace risks posed by COVID-19.
Taking place on the 16th November 2021 at 11am, the free one-hour webinar entitled ‘Conquering your workplace challenges posed by COVID-19’ will be held in partnership with Verlingue UK.
COVID-19 has led to businesses transforming how they operate, and how and where employees work. The rise in working from home, the return of people to offices and on the road, and the adoption of hybrid models, have created new and unique challenges that businesses must comprehend and conquer.
This webinar will provide you with an understanding of workplace issues created by COVID-19 and how you can manage and overcome them. You will receive expert advice covering risk assessments, working from home and the importance of communication, and the all-important audit trail.
In addition, you will discover how you might protect yourself and your business from COVID-19 liability (or any other) claims.
The session will cover:
• The new issues for companies brought about by COVID-19. The impact on the workplace and how you can address them
• Risk assessments, working from home and the importance of communication and the audit trail. The spot checks!
• Mental health, people’s perceptions and how the pandemic has left us
• To understand how COVID19 liability (or any other) claims might arise and how you might protect yourself and your business from these
The session will be delivered by Simon Cutmore, Director of Risk Management at Verlingue UK. Having worked in risk management for nearly twenty years, Simon’s experience includes devising one of the first trend analysis tools for motor fleets, and specialising in the management of complex insurance claims.
He now regularly delivers seminars/webinars on everything from toolbox talks direct to fleet drivers to return to work following COVID and claims defensibility on employers and public liability claims.
Click here to register for free for the upcoming webinar
About the speaker
The webinar will be delivered by Simon Cutmore, Director of Risk Management at Verlingue UK.
Simon Cutmore is the Director of Risk Management Division at Verlingue UK. He is a Fellow of the Chartered Insurance Institute, a Chartered Insurance Practitioner, a Fellow of the Institute of Risk Management, a Chartered Safety and Health Practitioner and a Member of the International Institute of Risk and Safety Management. He previously specialised in the management of complex insurance claims and now regularly delivers seminars/webinars on everything from toolbox talks direct to fleet drivers to return to work following COVID and claims defensibility on employers and public liability claims.
You have access to a bespoke, competitive and comprehensive insurance package from Verlingue UK,
designed exclusively for healthcare and assistive technology companies like yours.
For those operating in this niche industry, having a specialist insurance product that understands the sector is essential.
Provided by: Verlingue
A new ruling by the Supreme Court will help thousands of business interruption insurance policyholders recover from the financial ramifications of the coronavirus pandemic and resulting closures. The ruling was issued on 15th January 2021.
Background
The court’s decision stemmed from an appeal of a test case brought by the Financial Conduct Authority (FCA) in June 2020. The test case inquired about the application of business interruption policies to reimburse organisations for losses related to the pandemic and subsequent lockdown restrictions. While setting up the original test case, the FCA estimated that approximately 370,000 policyholders, 700 types of policies and 60 insurers could potentially be impacted by the ruling.
The FCA’s test case analysed 21 sample wordings from eight different insurance providers. While some business interruption policies may only cover losses caused by physical damage to property, the sample policies used for the FCA’s test case included clauses relating to infectious disease, prevention of access to premises and hybrid clauses that deal with both disease and access issues.
On 15th September 2020, the High Court ruled that the sample wordings from six of the eight insurers should be triggered and therefore provide cover. Those six insurers—Arch, Argenta, Hiscox, MS Amlin, QBE and Royal & Sun Alliance—went on to appeal the ruling, leading to the Supreme Court’s decision.
Expanded Decision
In addition to upholding the High Court’s ruling, the Supreme Court also expanded upon it. The previous ruling stated that cover for losses was limited to those caused by mandatory public shutdowns. But, the Supreme Court’s decision stated that that scope was too narrow. As such, losses resulting from any instructions from public authorities can now qualify as having constituted prevention of access.
The Supreme Court’s ruling will also allow policyholders to make claims for losses stemming from pandemic-related reductions in service. Furthermore, disease clauses will be triggered and provide cover for COVID-19 cases occurring within 25 miles.
Next Steps
The latest ruling reaffirms the High Court’s previous decision. As such, in general, insurers may begin to pay out claims that had been previously denied or in question. However, policyholders should understand that the rulings do not encompass all possible disputes. It is possible that each individual case and policy may still be analysed on its own merit. The FCA has praised the Supreme Court’s decision and plans to work with insurers to make sure that affected claims are handled properly. For more information, contact us today.
Despite intense media speculation, the recent ruling is unlikely to change anything for most BHTA insurance policyholders.
Published: 27th January 2021
Source: Verlingue Limited