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Risk Advisor - RMAS Newsletter

Insurance – are you prepared?


This month’s newsletter has a focus on insurance and how Risk Management Advisory Services can help you. Arguably the UK is well served by our insurance industry. We have access to good quality insurance protection; many specialised schemes provide enhanced protection for various trades, and this is backed up by a strong focus on customer service. But is all as good as it seems?

For many of us insurance is a necessary evil. We have to buy some insurance by law and it makes sense to purchase as much cover as you can to protect your business for unexpected events but do you know if you are receiving value for money and the best advice? In this edition of Risk Advisor we identify how RMAS can help you understand how to make the most of your insurance protection.


What's in this month's newsletter?



Helping you understand the jargon

Insurance – we all have it, but do we know what it does?

Risk Management Advisory Services can help you understand the jargon. 


Sheridan Smith our Managing Director has over 30 years of experience working for many of the major insurance brokers in the UK and in a number of specialist areas including education, leisure and hospitality, sport, haulage, development and construction. He is available to help businesses in these and other sectors.

Ask yourself, have you read the policy document, if so, do you understand the policy cover, and if not did you ask your broker? If they responded are you happy with the answer? Do you know what you have to do to make sure a claim is covered? Do you know what a Warranty or Condition Precedent is and what it means in the event of a claim.


If your answer to any of these is NO, then you need our help. Call RMAS on 084 321 81 673 or email RMAS today. We are here to help you understand what your insurance protection actually does.


Claims Support

Do you know how to obtain the correct claims settlement?

As an industry insurance is heavily focussed on ensuring the customer is treated fairly. This usually means you receive numerous documents at renewal time to help you make the right decision on the insurance cover being recommended by the insurer or intermediary; BUT is the same true when you have a claim?


Ultimately what you are buying is a fair and equitable claims settlement. Some in the industry will argue you are buying peace of mind, but actually you are looking for the insurer to help you overcome what can be a traumatic time for your business. Some insurers focus heavily on providing care and support at this time but most are focussed on the affects of the incident from the insurers perspective.

So how can you ensure you receive the best support when a claim happens? It is probably easiest to provide an example.


Downward graphWe were recently asked to assist a local business. They are a small company with a turnover of less than £50,000. They suffered damage to their contents due to a frozen pipe over the Christmas 2010. Most of their contents were damaged beyond repair and they had to close down for 6 weeks. During this time they continued to pay salaries to employees but received no income. They had spent a great deal of time in providing evidence to support their claim and of course to keep the business going. In the meantime they have transferred in excess of £8,000 from their reserves in order to replace items and continue to pay the bills.


We were first asked to help on 14th June. At that initial meeting we identified that the claim for damage to the contents of £15,500 represented 98% of the total value of the contents. They are underinsured but the insurer was trying to penalise them twice and was offering less than £9,000 in settlement when they are actually covered for £12,000. They were also told they could not claim for the staff salaries of £6,000; however they were not told they could claim for loss of income.


They have now re-presented their claim to include loss of income. The total claim is now worth almost £28,000 even allowing for the underinsurance. They also requested an interim payment to assist in replacing the damaged items. A cheque for £10,000 less the policy excess of £50 was received on 22nd June and consideration is being given to a further interim payment. We will let you know the final outcome in due course.

This was a straightforward claim where the insurers had not been supportive on the loss of income claim, or forthcoming in offering an interim payment to help the business with its cash flow. Our involvement has provided the business with much needed cash support and confidence that they are able to recover much more from the insurers than previously indicated.    


If you would like help with your insurance claim call RMAS on 084 321 81 673 or email RMAS



Motor Insurance Premiums on the rise

30% increase in motor premiums in one year!

car crash

With motor insurance premiums continuing to rise, is this the start of general increases across all classes of insurance?


We have probably witnessed the longest spell of reducing insurance premiums over the past few years. Nearly all types of insurance from Motor to Fire, Liability and Professional Indemnity have seen reductions in premiums for several years but with motor insurance premiums increasing by 30% over the past 12 months this is the early indicator of premium increases over most commercial insurance classes.


If you have suffered claims you are more likely to be affected first. If this is the case let us know and we can analyse what has happened and help you with claims mitigation measures that can reduce the likelihood of a premium increase. Even if you have not had a claim general price rises are likely to feed through in the coming months. RMAS has an introducer arrangement with a major insurance broker who will be happy to provide you with alternative quotations.


If you would like us to review your claims experience or to obtain an alternative insurance quotation call RMAS on 084 321 81 673 or email RMAS.


Special Insurance Risks

Risk Insurance


Does your broker provide Credit or Medical Insurance?

It seems strange to most insurance customers when their broker tells them that they don’t handle Credit insurance and Private Medical insurance.


RMAS has arrangements available for both of these areas of risk. If you would like help with either of these classes of insurance or for that matter Credit Management, Debt Recovery or an Injury Management system please let us know. Call RMAS on 084 321 81 673 or email RMAS today to find out more.



It Makes You Think

Some More of Life’s Quirks as observed by RMAS



At RMAS we are always amused by life and people.
This month it is slightly different as you will see. Here is this months’ offering:


In the year 2012 the Lord came unto Noah and said:
"Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save two of every living thing along with a few good humans."

He gave Noah the CAD drawings, saying: "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights."

Six months later, the Lord looked down and saw Noah weeping in his yard, but no Ark.

"Noah!" He roared, "I'm about to start the rain! Where is the Ark?"

"Forgive me, Lord," begged Noah, but things have changed. I needed Building Regulations Approval and I've been arguing with the Fire Brigade about the need for a sprinkler system.

My neighbours claim that I should have obtained planning permission for building the Ark in my garden because it is development of the site, even though in my view it is a temporary structure. We had to then go to an Appeal Hearing for a decision. Then the Department of Transport demanded a bond be posted for the future costs of moving power lines and other overhead obstructions to clear the passage for the Ark's move to the sea.

I told them that the sea would be coming to us, but they would hear nothing of it.

Getting the wood was another problem. All the decent trees have Tree Preservation Orders on them and we live in a Site of Special Scientific interest set up in order to protect the spotted owl. I tried to convince the environmentalists that I needed the wood to save the owls - but no go!


When I started gathering the animals, the RSPCA sued me. They insisted that I was confining wild animals against their will. They argued the accommodation was too restrictive, and it was cruel and inhumane to put so many animals in a confined space. Then the County Council, the Environmental Protection Agency and the Rivers Authority ruled that I couldn't build the Ark until they had conducted an environmental impact study on your proposed flood.

I'm still trying to resolve a complaint with the Equal Opportunities Commission on how many disabled carpenters I'm supposed to hire for my building team. The trades unions say I can't use my sons. They insist I have to hire only accredited workers with Ark-building experience.

To make matters worse, Customs and Excise seized all my assets, claiming I'm trying to leave the country illegally with endangered species.
So, forgive me, Lord, but it would take at least 10 years for me to finish this Ark.

Suddenly the skies cleared, the sun began to shine, and a rainbow stretched across the sky.

Noah looked up in wonder and asked, "You mean you're not going to destroy the world?"

"No," said the Lord. "..........the Government beat me to it!"


We trust you found the latest copy of Risk Advisor to be of interest. Please feel free to contact us if you would like assistance on any of the areas raised in this or previous publications call RMAS on 084 321 81 673 or email RMAS today.


Alternatively if you know of someone who could benefit from our services please forward this message or provide them with our details.

Alternatively if you know of someone who could benefit from our services please forward this message or provide them with our details.