Author: Gareth Prescott, 03 November 2005.
The Alan Boswell Group publishes a regular newsletter for its clients, containing topical articles and useful advice on the insurance and investment matters.
In this latest edition, we feature the following areas:
Professional Indemnity Does this mean you?
Whilst Solicitors, Accountants, Surveyors, Architects and certain other professions are only too aware of the need for (and cost of!) professional indemnity (P.I.) insurance cover, there are vast numbers of emerging professionals who are not properly covered for P.I. risks.
Directors and Officers Insurance (D. & O.)A number of U.K. directors particularly those involved in the SME sector show an alarming lack of knowledge of the risks that they face personally actions in certain circumstances by creditors, crown agencies in respect of taxation and duties, regulators, employees, shareholders and others. Actions against directors by the DTI have for example increased by more than 50% over the last four years.
What has the FSA done for you?The Financial Services Authority took over responsibility for the U.K. General
Insurance intermediated and direct sales industry at the beginning of 2005. There have already been some signs that the FSAs involvement will bring about many changes.
Long-term care planning for the elderlyOffice for National Statistics data shows that the population grew by 7 per cent in the last thirty years or so, from 55.9 million in 1971 to 59.8 million in mid- 2004. Within the population aged 65 and over, the proportion of people aged 85 and over has increased from 7% in mid-1971 to 12% in mid-2004.
Satisfy your thirst for property take a SIPPAfter 6th April 2006 SIPPS (Self Invested Personal Pensions) will be able to own residential properties. Property owning SIPPS are likely to be of interest particularly to those that want a significant property element in their pension funding.
Mortgages Two Years onABCOs Independent Mortgage Service has already experienced high volumes of interest. Clients have been eager to refer friends and colleagues once they have experienced our professional and personal service. We also work very closely with a number of professional introducers such as Solicitors, Accountants, Estate Agents and some Banks.
Training, Development & ProfessionalismAlan Boswell Group is committed to train and develop all staff to as high as possible a level. Considerable internal resources are devoted to this end and at the present time over twenty of our younger general insurance staff are attending night school classes or studying through a correspondence course. All financial services staff are fully qualified to FPC 3 and beyond.
Change your ride!There is a growing trend in the number of modifications to motor vehicles, the non-disclosure of these modifications to insurers and surprise, surprise the number of motor claims being declined as a result.
Group growth continuesDespite having made few acquisitions in the last three years and a softening market, the AB Group continues to expand mainly through organic growth.
Alan Boswell Insurance Brokers Limited, Alan Boswell Insurance Services Limited and Alan Boswell & Company Limited are authorised and regulated by the
Financial Services Authority.
