RSA delivers new Tradesman Business Insurance Product

RSA has launched a new tradesman business insurance product.

The product is designed for businesses with up to five employees and covers a wide range of trades from decorators, builders, carpenters and electricians through to some of the more unusual occupations such as Feng Shui consultants, butlers and sculptors. It is aimed predominantly at businesses that operate mainly at their customer’s premises.

A standard cover of Public and Products liability is provided as well as optional covers such as Employer’s Liability and Tools cover, which can include tools left in a vehicle over night. The cover is rated directly on the number of workers engaged in the business. This latest product can be quoted for and purchased within just a few minutes.

With an almost 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. Within the UK, RSA is the largest commercial lines insurer, covering the insurance and risk management needs of a significant number of FTSE 100 companies. It has a full multi-distribution capability, writing business through brokers and corporate partners, direct and online. RSA is also one of the UK’s top three personal motor and household insurers.

In December 2006 RSA became the first insurer in the UK to be carbon neutral. The company has cut its carbon footprint by half since 2000 and has offset the remainder by purchasing voluntary carbon reductions.

Simple Car Insurance with Officefile

Today we have launched simple car insurance policies in partnership with Norwich Union.

If you are looking for a new motor insurance policy specifically built around your individual requirements then this could be just what you are looking for. Simple cover is a great car insurance policy from Norwich Union you can tailor around your exact needs.

All simple policies are fully comprehensive (not Third Party Fire & Theft), and are only available to buy online.

M&S Car Insurance – How Does it Rate?

 

 

Marks and Spencers foray into the car insurance market has been viewed by some insurance industry commentators with a degree of cynicism.

Is this justified? Or have Marks and Spencer really delivered a set of motor policy features designed to stand out from the crowd? You can choose from Comprehensive, third party fire and theft or third party only cover and you can choose to pay by Debit card, credit card or direct debit payment. Below we delve a bit further into what this trusted brand delivers for motorists:

• Save up to 10% on your car insurance premium when you buy online.
• Includes UK and European breakdown cover as standard.
• Get up to 14 days car hire after an accident, fire or theft. Plus a courtesy car after that (subject to cover and availability).
• £100,000 Motor Legal Protection included.
• Repairs from an approved repairer are guaranteed for three years.
• Quick and easy application with no forms to fill in.
• Telephone claims line.
• Green card for unlimited trips abroad for up to 90 days travel per trip.

Keycare cover
Sign up for M&S Car Insurance and enjoy the benefits of being a Keycare member. Take advantage of a 24 hour helpline, up to £1,000 toward replacement locks, up to 3 days car hire if you are stranded and a whole lot more.

Marks and Spencer Motor Insurance is administered by BISL Limited. BISL Limited act as an insurance intermediary who provide insurance products from a range of insurers.

Customers can only apply for Marks & Spencer Car Insurance over the internet or by telephone.

Consumers Finding it Tougher to get a Mortgage

With many financial pundits shying away from talking up the prospects of the UK entering into a recession, there can be no doubt, however that consumers are finding it tougher to get a mortgage.

Many high street lenders are becoming increasingly cautious, contiuning to change the terms of current deals and withdrawing offers previously on the table to borrowers.

Financial information service Moneyfacts has said recently that a number of major lenders had tightened up their criteria over the past week. This in turn has led to higher deposits being demanded from first-time buyers.

The Council of Mortgage Lenders reported that gross mortgage lending fell by 7% between January and February, indicating a further slowing of the market. The CML’s figures show lending in February was £24bn, compared with £25.9bn in January and 6% lower than the £25.6bn lent in February 2007.

Also, first-time buyers still find no favour or assistance from the current Government. According to the National Homebuyers organisation The Government is to blame for distressed first-time buyers.

The organisation, says the majority of calls taken by them are from first-time buyers who have already run into difficulty with their mortgage repayments. According to the organisation, a large part of the problem is not debt, but tax burdens.

More Than Car Insurance for Women

More Than car insurance have recently launched a new policy specifically designed for women drivers. Key Benefits include:

• Courtesy car plus.
• Priority emergency cover if you are travelling alone or with children.
• Vehicle history checks facility.
• Hire car within 2 hours if immobilised.
• Free replacement child car seats if your car is in an accident.
• Mobile phone locator and text updates from the recovery crew.
• Female friendly garages for repairs.

Before proceeding with any new motor insurance purchase always be sure to check the policy summary or wording provided on the company’s website.

Business Insurance Review

Below you will find an overview of business insurance products and policies.

Protecting your business is a vital component of a sound Business Insurance strategy. Choosing the correct policy for your company is a task which needs to be taken with the up-most care. It is one of the most important financial decisions your firm will make.

Business Contents
A suitable comprehensive business contents insurance policy can protect your business equipment from perils such as fire, flood, or theft. The best way to establish how much property or contents insurance you’ll need is to create an itemised list of your business assets and their individual sterling values.

Professional Indemnity Insurance
This type of insurance protects your business against possible compensation sought by a client in the event that you have made mistakes or are found to have been professionally negligent. Professional indemnity also covers any legal costs that may arise from this action.

Public Liability
This type of insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business. It also covers any related legal fees, costs and expenses. Premiums depend on the type of business you run, your turnover and the number of employees you have.

Business Travel Insurance
If your company is committed to reducing its Business Travel Insurance costs then it is paramount to take a closer look at the bigger picture, rather than just concentrating on specific business travel costs i.e. agent booking fees and self booking tools.

Business Link Guide to Business Loans

The Business Link Network is the UK Government’s multi-channel support service for business of all sizes, for all phases of growth, from start-up to succession. As a non-political organisation it is dedicated to helping new and existing businesses innovate, improve, grow and become more competitive.

Business Link services are delivered by 45 county-based Business Link Operators. These are funded by the Department for Business, Enterprise and Regulatory Reform and managed by the nine Regional Development Agencies.

Business Link only covers the regions of England. Elsewhere in the UK, its counterparts are Business Gateway (Scotland), Business Eye (Wales) and InvestNI (Northern Ireland).

Business Link Guide to Business Borrowing
Whether you are starting a business, expanding it or investing in it to stay competitive, you may need to borrow money. You may want external finance to cover day-to-day expenses when developing your new product, service or marketing strategy until your business generates enough surplus cash to meet these costs. Alternatively, you may want to borrow money to cover the cost of new equipment or premises.

The Business Link guide looks at the advantages and disadvantages of business loans and overdrafts – two popular sources of finance – and the purposes for which they are best suited. It provides practical help when choosing a loan or overdraft, taking you through the options available from high street banks and building societies as well as companies offering unsecured loans.

It also gives guidance on how to raise your chances of success when approaching a lender, for example by using a finance broker, and lists the main sources of borrowing including specialist loan providers.

esure car insurance warning

Drivers who are planning to get behind a wheel outside the European Union (EU) should make sure they extend their cover, according to esure motor insurers.

Adrian Webb, head of corporate communications at esure, warned motorists that they would lose “all cover” once they travel outside the EU unless they make an arrangement with their insurance provider.

Those who do not heed this warning may risk driving illegally, he stated, adding that the provision of cover for non-EU destinations depends on where the driving is going to take place.

“The silliest thing you could ever do when taking your car abroad is to not speak with your insurer,” he remarked.

The British Insurance Brokers Association has recommended that motorists get their cars serviced before going abroad.

Founded in 1999, esure aims to offer competitive insurance cover by using the internet as its main sales channel.

Liverpool Victoria rebrand as LV – Success or Not?

Liverpool Victoria the UK’s biggest friendly society, has splashed out £2m in transforming itself into LV=. According to the company the redefined brand frontage “draws on our heritage and our new look aims to present us in a more modern and vibrant way”.

Having survived since 1843 on their name, Liverpool Victoria appear to have had an attack of expensive rebranding. “After listening to our members, customers and staff we decided that our brand name needed to evolve to make it more relevant for society today and for the future.”

According to the Daily Telegraph (which signalled its disapproval with the headline “160 years of tradition elbowed aside for LV=”), LV=’s big cheese Mike Rogers explained: “Although the existing identity had a great heritage, we only had 2pc spontaneous brand awareness. The new brand identity is a natural evolution of the Liverpool Victoria name.”

The big question of whether brand awareness will increase can only be answered over time. Obviously the simple (albeit expensive) rebranding exercise will need to be allied to other marketing and pricing initiatives.  

Will consumers turn to LV= when their insurance policy is up for renewal? When the latest market share stats are published we’ll bring them to you first here!

Officefile Finance & Insurance Blog

Welcome to the new Officefile finance and insurance blog!

This new weblog will set out to post regularly on the subjects of financial services for both consumer and business sectors.  Make sure to check back for updates and comments on current topics and issues.

Feel free to post a comment and make a valued contribution.