Heathrow shutdown highlights need for specialist insurance advice
The fire which forced the closure of Heathrow Airport and affected more than 200,000 airline passengers world-wide, is a timely reminder of the need for businesses to use a specialist broker to ensure sufficiency of insurance cover is in place. Risk managers should seek specialist advice about the breadth of insurance options available, not just […]
Investigation launched after Tanker carrying jet fuel and cyanide container ship collide off UK East coast
Authorities have launched an investigation after a tanker carrying around 18,000 tons of jet fuel for the US military was struck by a container ship transporting sodium cyanide in the North Sea, triggering explosions and a massive fire. Both crews abandoned their vessels with one person reported to be missing from the cargo ship, Insurance […]
Widening range of risks increases demand for D&O cover
Demand for Directors & Officers(D&O) insurance is being driven by a widening range of risks according to a survey by Global Insurance Law Connect (GILC), a global network of law firms with insurance expertise. The survey focuses on the impacts of regulation and sanctions, increasing attention on environmental, social and governance (ESG), and the ongoing […]
Essentials of insuring data protection risks
Insuring data risks can appear daunting with businesses needing to satisfy a range of obligations in terms of compliance, storage, access, and reporting when data breaches occur. Therefore, it is essential for businesses to meticulously review their insurance policies. In 2024 the ICO , the UK’s data protection regulator, completed 36,049 data protection complaints and […]
Battery storage facility fire could result in potential $500m insurance loss
A fire at Vistra Corporation’s Moss Landing Power Plant in the USA, which burned for five days and destroyed around 80% of the batteries inside the building, could result in a potential $500m insurance loss. London based Travelers and AIG, in the US, led the placements for the primary layer of Vistra Corp’s energy property […]
Cyberattack victims take High Court action over stolen personal information
More than 450 employees of organisations including the BBC, British Airways and Boots have sued Zellis alleging the payroll and human resources provider failed to take action to prevent a cyberattack suspected to have been carried out by Clop, a Russian cybercrime group. Clop posted a notice on the dark web in June 2023 claiming […]
Flooding could cost homes and businesses in England £818m by 2055
Homes and businesses most at risk of flooding across England could face at least £818m in costs by 2055. According to a new report from AXA UK there are an estimated 2.8 million properties in England already at risk of river and sea flooding and 3.4 million are at risk of surface flooding. The Environment […]
Court highlights need for unambiguous drafting of construction contracts
A recent Technology and Construction Court case has highlighted key issues for contractors including the need to ensure the unambiguous drafting of construction contracts. This case Workman Properties Ltd v Adi Building And Refurbishment Ltd [2024] EWHC 2627 (TCC) has reaffirmed the principle that in design-and-build projects, the contractor bears the responsibility for completing the design. […]
Specialist principal designer insurance vital to manage risks
Chancellor Rachel Reeves has recently announced significant reforms aimed at revitalising the UK’s financial sector. One of these reforms involves private companies considering participation in the “Private Intermittent Securities & Capital Exchange System” (Pisces). Consequently, W Denis recommend that private companies considering this source of new capital, to reassess their Directors & Officers (D&O) insurance […]
Specialist principal designer insurance vital to manage risks
The Building Safety Act 2022 (BSA 2022) redefined the role of the principal designer making it essential to have the right insurance in place to manage the broad range of risks inherent in the position and ensure long-term protection against claims. Principal designers influence how risks to health and safety are managed throughout a project […]