Author: Ascend Broking
The Property Insurance Market Update Part 1
The Property Insurance Market Update Part 1 Over the past three years, the UK Property Insurance market has faced significant challenges, driven by the cost of materials, labour shortage, inflation and a change in reinsurance (capacity and cost for insurance on large losses) which has resulted in double digit rate increases. In 2023,…
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Autumn Newsletter 2023
Autumn Newsletter 2023 We are pleased to enclose your copy of our autumn newsletter, Covernotes. A digital PDF version is available to download here. This issue of Covernotes contains the following articles: Start your ‘Martyn’s Law’ Terror Security Planning Right Now Make Contract and Intention Identical to Avoid a Co-insurance Claim…
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Preserving History – Storing Classic Cars
Preserving History: A Guide to Storing Classic Cars The classic car could be the ultimate ‘toy’ for the high net worth individual, with many beautiful cars taking pride of price in the discerning collector’s armoury, but how should these pieces of history and works of art on wheels be stored? Whether you're an avid…
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A Guide to Freight Forwarders Insurance in the UK
A Guide to Freight Forwarders Insurance in the UK Introduction Every year, a significant number of shipping containers is lost during transit. This, coupled with the occurrence of damaged goods upon delivery, has emphasised the importance of insurance in the logistics sector. Let's delve into the world of Freight Insurance and Cargo Insurance –…
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How to protect against fire from lithium batteries
Lithium batteries in the home – how to protect against fire The use of lithium-ion batteries in household items has increased due to their ability to store more energy, providing longer usage times. While these batteries are generally safe when used properly, there can be serious consequences if they are not handled correctly. Here are…
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The personal motor insurance market – challenging times
The personal motor insurance market – challenging times The UK motor market has seen month-on-month premium rate increases over the last few months as Ernst and Young (EY) tell of insurers experiencing their “worst performing year in a decade in 2022”. This is due to: Rising inflation Higher wages Historical low premiums Increase in cost…
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Warehouse & storage conditions for insurance purposes
Warehouse & storage conditions for insurance purposes Warehouses are essential for many businesses, providing a safe and secure place to store inventory, raw materials, and finished goods. However, not all warehouses are the same, and different warehouse storage conditions are required for different types of products. In this blog post, we will explore why it…
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The widening gap of property underinsurance
The widening gap of property underinsurance Concerns grow as an increasing number of UK properties are now underinsured. With the gap between property rebuild costs and their sums insured widening at an alarming rate. RebuildCostASSESSMENT.com has complied figures from their annual report on rebuild costs and has concluded, from almost 27,000 rebuild valuations…
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Underinsurance risk to high net worth individuals
Underinsurance risk to HNW individuals High net worth individuals are falling prey to underinsurance in the face of rising inflation rates and the pressures of the UK’s cost of living crisis. New research from specialist insurer, Ecclesiastical, supports this, with a statement released on the 19th June 2023 revealing that of 119 brokers interviewed…
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Important changes in the home claims market
Important changes in the home claims market One of the effects of a challenging financial climate is changes in the home claims market. In 2022, UK construction costs rose to a 40-year high as we saw prices soar in raw materials, fuel and energy, and this has meant unprecedented challenges for insurers. There are…
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