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Insurance: History, theory, meaning… Background The word “insurance” is so inculcated into our culture that it is easy to forget what it’s all about. The history books point to the beginnings of an organised industry in the seventeenth century. Shipping merchants, gathering in Edward Lloyd’s coffee shop in Lime St, London would speculate on whether …
Terrorism Cover: COP26 With such a large scale event taking place in the heart of Glasgow, Terrorism Insurance can help your business be better prepared What is COP26? The Leaders of the World will be descending on Glasgow city centre from 31st October 2021 – 12th November 2021, to take part in the United Nations …
Need to Know: Significant Others Published: 05/10/2021 Author: Bob Hannah 2 min read Under-insurance Almost all commercial insurance policies are subject to an under-insurance clause, known as ‘Average’. The really important point here is that the difference between being adequately insured and under insured is usually only a small amount of the premium. The difference …
Need to Know: Behavioural Conditions Published: 05/10/2021 Author: Bob Hannah 1min read ‘Warranties’, ‘Conditions Precedent’ and Policy Conditions An insurance policy raises expectations of a certain future – but it’s a highly conditionalcontract. The devil is in the detail of the policy conditions. Some of these conditions have historical names like ‘Warranties’ or ‘Conditions Precedent …
Need to Know: Presenting the Facts Published: 05/10/2021, Author: Bob Hannah Making A Fair Presentation of the Risk At the heart of insurance contracts is an obvious truth: you have an enormous advantage over the insurer. You know all about your business, its history, processes, people and management, but the insurer knows nothing – other …
This is what it is to be a broker Published 05/10/2021 Author: Bob Hannah, 2min read It was over 20 years ago when a cloud of microscopic dots drifted slowly across the River Clyde, in the dreary heat of a sunny autumn day. A cloud of red lead, off-spray, from the big ship they …