Due to change in government legislation, please note that with effect from 1st October 2016 Insurance Premium Tax will increase to 10%.
Arlington
News & Blog
Tip of the Week from the DAC Beachcroft real estate management group
… Energy Act – Part 1: Are you ready?
The Energy Act 2011 is now being debated at a practical rather than academic level: but given the implementation date for the first limb of the restrictions is 1st April 2018, is that debate happening too late?
From 1st April 2018 a landlord is prohibited from granting a new lease if the energy efficiency rating of the property is less than an E. For further information on DAC Beachcroft’s article click here
Welcome to Tony Housden
Arlington are delighted to announce that Tony Housden has joined the team in London.
Tony brings with him over 35 years’ insurance experience with over 10 of that in the real estate sector.
Tony’s appointment will further strengthen our technical expertise to the benefit of all our customers.
The Insurance Act 2015 – Important Information
The above comes into force on 12th August 2016 and is a new legal framework affecting every business insurance policy entered into, renewal or amended after this date.
Arlington has produced a Customer Guide that provides an explanation as to how the Act will impact business insurance policies.
Changing Times in Professional Indemnity
Avoiding Unintended Consequences
A soft Professional Indemnity market means that insureds will often consider changing insurers. A move can make sense but needs to be handled carefully.
Insureds operating under tight margins may wish to change insurers. Experienced brokers will appreciate that each move can make sense and be a good thing on its own merits, but will also know that change may lead to the risk of problems emerging.
The main risk of course concerns the notification and, perhaps to a lesser extent, disclosure of circumstances at renewal. The risks increase where there is a change of insurer. Unclear notifications may result in a risk that in the event of a claim, there is a prolonger dispute between different insurers who may face significant claims disclosure.
To read the full article in BIBA’s Brokers’ Guide click here.