Latest News and Updates from BIBALet and the Let Property Industry...
We aim to bring you comprehensive insurance products which develop and adapt to the changing Let Property Market:
Bonfire burglary risk
With Bonfire night fast approaching and the clocks due to go back, property owners are being warned to beware of vandalism, theft and burglary.
Recent research has shown that reported burglaries increased by more than a quarter (26%) between 30th October and 5th November, compared to the remainder of the year.
An increase in burglaries during this period is likely to be caused by the darker nights and empty homes during the festivities of Bonfire night.
We would therefore like to advise you to take the necessary precautions to help deter burglars from your home.
For hints and tips, take a look at our Burglary Advice page
here.
BIBA reveals 2012 Conference Theme
The British Insurance Brokers' Association (BIBA) has announced the theme for next year's Conference and Exhibition.
The 2012 theme will be 'Shaping our Futures' to be held at Manchester Central on 16th and 17th May.
BIBA has said the title reflected its manifesto commitments to influence the issues affecting brokers and to take the lead role, with support from members, in driving through change in the industry.
BIBA Chief Executive, Eric Galbraith said: "Throughout 2012, BIBA will continue to take the initiative in promoting the need for more proportionate, appropriate and cost effective regulation, while stressing the personalised and professional services available to businesses and consumers provided by BIBA members. Shaping our Futures will look in depth at the pressures facing the market, while providing the networking and learning experience so valued by brokers, insurers and providers."
We will be attending the 2012 Conference & Exhibition - you can come and visit us on stand C37.
Lightning usually strikes twice
Recent research has shown that lightning strikes twice for nearly 1 in 10 people who make a related insurance claim, with property owners located in Wales and the West of the UK 89% more likely to suffer damage caused by lightning than any other location.
Not only did the research show that insurers have seen a 68% rise in home insurance storm claims in the past year but those living in Yorkshire are 142% more likely to make a claim caused by flooding.
Residents of Central Scotland, however, are 117% more likely to make a claim following storm damage and those living in London are 47% more likely to make a claim due to a falling tree.
With winter approaching and unpredictable weather looking to continue, it is important to check home insurance policies to make sure adequate cover is in place.
Source - Insurance Daily
Energy Efficiency rental ban from 2018
Since 2008 it has been a legal requirement for landlords to obtain an Energy Performance Certificate (EPC) prior to letting out a property.
From 2018 any private buy-to-let landlord whose property has an F or G energy efficiency rating will no longer be able to rent it out and there is now speculation that the Government may implement the ban two years earlier.
From 2018 landlords will be given the choice of either upgrading their property or removing it from the rental market.
Source - Residential Landlord
Cost of major city riots could top £100m in damages
The Association of British Insurers has commented on recent riots which have swooped over our nation during the past few days, saying the industry's liability could run up to "well over" £100m in damages and lost business.
The shocking riots started on 6th August in Tottenham; however since then they have reached some of the nation's larger cities including Birmingham, Bristol and Manchester.
With Britain recovering from a recession, these riots have hit at a very fragile time, whilst small retailers have been hit the worst, the riots will undoubtedly affect larger businesses and tourism in the UK.
*Source - The Independent.
London riots - August 2011
With riots now hitting many of the UK's major cities, a number of claims for property damage have been made. Landlords and commercial property owners have all been targeted and pressure is on to clean up the mess.
Riots in Tottenham were spurred by the fatal shooting of 29-year-old Mark Duggan by police on 4 August 2011 during a planned arrest. A peaceful protest at Tottenham police station turned violent and then spread to neighbouring boroughs over following nights. Shops were looted, businesses and homes were burnt down as well as a number of vehicles set alight and destroyed.
On the night of 8th August, the violence spread to Bristol, Birmingham, Leeds, Liverpool and Nottingham. In response to the escalating damage, Prime Minister David Cameron, Home Secretary Theresa May and London Mayor Boris Johnson all returned back to the capital from their holidays.
Home and landlords insurance policies should cover people for fire, looting or damage caused. Many policies will also cover people and tenants for accommodation costs should they be unable to stay in their homes due to damage caused by riots or malicious fires.
For further information click here.
BIBA presents FSCS petition to MP
The Financial Services Compensation Scheme (FSCS) petition, with 7000 member signatures has been presented to Jonathan Evans MP at the House of Commons. The BIBA petition calls for the House of Commons to urge HM Treasury to accelerate the FSA's review of the FSCS consultation with immediate effect.
The FSA announced in November 2009 that a review of the FSCS would happen, however this was delayed until November last year due to European proposals and changes to the regulatory landscape which the FSA advised may have potential consequences for the structure and funding of the FSCS.
BIBA has since demanded the review to be completed by April next year, in time to avoid further increases in levies for brokers in 2012.
We signed the petition - did you?
BIBA and IIB to merge?
BIBA and the Institute of Insurance Brokers (IIB) have recently confirmed that they are in formal discussions regarding the two organisations merging, with an aim to complete these discussions by the end of 2011.
The announcement was made by BIBA Chairman, Patrick Smith during his opening of the BIBA 2011 Conference & Exhibition, held in Manchester Central on 11th & 12th May.
The intention is that Barbara Bradshaw and the IIB team will form part of the combined organisation.
Eric Galbraith and Barbara Bradshaw both confirmed that they continue to keep their members' interests at the heart of what they do & will advise both memberships as further discussions develop.
They have advised that until then, business will continue as normal.
*Source: www.biba.org.uk
Visit us at the BIBA 2011 Conference & Exhibition
The BIBA 2011 Conference & Exhibition is approaching and we can confirm that we will be exhibiting this year.
The BIBALet Team will be on hand to provide you with the latest news and information on the range of products and services we can offer AND you could be in with the chance of winning tickets to the world famous 'Cirque Du Soleil'.
Attending the BIBA Conference enables us to spend time with our current insurance brokers and to network with potential new ones; BIBA 2010 was a massive success with 170 exhibitors and over 4000 attendees, so we are hoping to see an increase in numbers this year.
So come and join us for a coffee or beverage on stand D38 on 11th & 12th May - We look forward to seeing you there!
BIBA launches petition
BIBA has launched a petition for members, to be tabled to the House of Commons on the Financial Services Compensation Scheme (FSCS).
The petition has been sent to all BIBA members and advises that they have been working with the All Party Parliamentary Group on Insurance and Financial Services to highlight the unfairness of the FSCS.
The main aim is to try and push their other efforts on the FSCS and BIBA hope this will send a strong message to Parliament to review the FSCS funding model.
Read the full article here.
BIBA 2011 Theme - "Opportunities in Adversity"
The BIBA 2011 Conference & Exhibition is approaching and BIBA have announced that this year's theme will be "Opportunities in Adversity".
This year's theme title was chosen in recognition of the ever troubling economic climate facing all of us in the UK, as well as giving encouragement to brokers aiming to be stronger business models in the industry.
BIBA 2011 will continue to follow in the two-day format, which was launched in 2010 and will be held on 11th & 12th May, at Manchester Central.
BIBALet will be attending this year's Conference and we look forward to meeting you on stand D38.
Latest News and Updates from BIBALet and the Let Property Industry...
We aim to bring you comprehensive insurance products which develop and adapt to the changing Let Property Market:
Bonfire burglary risk
With Bonfire night fast approaching and the clocks due to go back, property owners are being warned to beware of vandalism, theft and burglary.
Recent research has shown that reported burglaries increased by more than a quarter (26%) between 30th October and 5th November, compared to the remainder of the year.
An increase in burglaries during this period is likely to be caused by the darker nights and empty homes during the festivities of Bonfire night.
We would therefore like to advise you to take the necessary precautions to help deter burglars from your home.
For hints and tips, take a look at our Burglary Advice page
here.
BIBA reveals 2012 Conference Theme
The British Insurance Brokers' Association (BIBA) has announced the theme for next year's Conference and Exhibition.
The 2012 theme will be 'Shaping our Futures' to be held at Manchester Central on 16th and 17th May.
BIBA has said the title reflected its manifesto commitments to influence the issues affecting brokers and to take the lead role, with support from members, in driving through change in the industry.
BIBA Chief Executive, Eric Galbraith said: "Throughout 2012, BIBA will continue to take the initiative in promoting the need for more proportionate, appropriate and cost effective regulation, while stressing the personalised and professional services available to businesses and consumers provided by BIBA members. Shaping our Futures will look in depth at the pressures facing the market, while providing the networking and learning experience so valued by brokers, insurers and providers."
We will be attending the 2012 Conference & Exhibition - you can come and visit us on stand C37.
Lightning usually strikes twice
Recent research has shown that lightning strikes twice for nearly 1 in 10 people who make a related insurance claim, with property owners located in Wales and the West of the UK 89% more likely to suffer damage caused by lightning than any other location.
Not only did the research show that insurers have seen a 68% rise in home insurance storm claims in the past year but those living in Yorkshire are 142% more likely to make a claim caused by flooding.
Residents of Central Scotland, however, are 117% more likely to make a claim following storm damage and those living in London are 47% more likely to make a claim due to a falling tree.
With winter approaching and unpredictable weather looking to continue, it is important to check home insurance policies to make sure adequate cover is in place.
Source - Insurance Daily
Energy Efficiency rental ban from 2018
Since 2008 it has been a legal requirement for landlords to obtain an Energy Performance Certificate (EPC) prior to letting out a property.
From 2018 any private buy-to-let landlord whose property has an F or G energy efficiency rating will no longer be able to rent it out and there is now speculation that the Government may implement the ban two years earlier.
From 2018 landlords will be given the choice of either upgrading their property or removing it from the rental market.
Source - Residential Landlord
Cost of major city riots could top £100m in damages
The Association of British Insurers has commented on recent riots which have swooped over our nation during the past few days, saying the industry's liability could run up to "well over" £100m in damages and lost business.
The shocking riots started on 6th August in Tottenham; however since then they have reached some of the nation's larger cities including Birmingham, Bristol and Manchester.
With Britain recovering from a recession, these riots have hit at a very fragile time, whilst small retailers have been hit the worst, the riots will undoubtedly affect larger businesses and tourism in the UK.
*Source - The Independent.
London riots - August 2011
With riots now hitting many of the UK's major cities, a number of claims for property damage have been made. Landlords and commercial property owners have all been targeted and pressure is on to clean up the mess.
Riots in Tottenham were spurred by the fatal shooting of 29-year-old Mark Duggan by police on 4 August 2011 during a planned arrest. A peaceful protest at Tottenham police station turned violent and then spread to neighbouring boroughs over following nights. Shops were looted, businesses and homes were burnt down as well as a number of vehicles set alight and destroyed.
On the night of 8th August, the violence spread to Bristol, Birmingham, Leeds, Liverpool and Nottingham. In response to the escalating damage, Prime Minister David Cameron, Home Secretary Theresa May and London Mayor Boris Johnson all returned back to the capital from their holidays.
Home and landlords insurance policies should cover people for fire, looting or damage caused. Many policies will also cover people and tenants for accommodation costs should they be unable to stay in their homes due to damage caused by riots or malicious fires.
For further information click here.
BIBA presents FSCS petition to MP
The Financial Services Compensation Scheme (FSCS) petition, with 7000 member signatures has been presented to Jonathan Evans MP at the House of Commons. The BIBA petition calls for the House of Commons to urge HM Treasury to accelerate the FSA's review of the FSCS consultation with immediate effect.
The FSA announced in November 2009 that a review of the FSCS would happen, however this was delayed until November last year due to European proposals and changes to the regulatory landscape which the FSA advised may have potential consequences for the structure and funding of the FSCS.
BIBA has since demanded the review to be completed by April next year, in time to avoid further increases in levies for brokers in 2012.
We signed the petition - did you?
BIBA and IIB to merge?
BIBA and the Institute of Insurance Brokers (IIB) have recently confirmed that they are in formal discussions regarding the two organisations merging, with an aim to complete these discussions by the end of 2011.
The announcement was made by BIBA Chairman, Patrick Smith during his opening of the BIBA 2011 Conference & Exhibition, held in Manchester Central on 11th & 12th May.
The intention is that Barbara Bradshaw and the IIB team will form part of the combined organisation.
Eric Galbraith and Barbara Bradshaw both confirmed that they continue to keep their members' interests at the heart of what they do & will advise both memberships as further discussions develop.
They have advised that until then, business will continue as normal.
*Source: www.biba.org.uk
Visit us at the BIBA 2011 Conference & Exhibition
The BIBA 2011 Conference & Exhibition is approaching and we can confirm that we will be exhibiting this year.
The BIBALet Team will be on hand to provide you with the latest news and information on the range of products and services we can offer AND you could be in with the chance of winning tickets to the world famous 'Cirque Du Soleil'.
Attending the BIBA Conference enables us to spend time with our current insurance brokers and to network with potential new ones; BIBA 2010 was a massive success with 170 exhibitors and over 4000 attendees, so we are hoping to see an increase in numbers this year.
So come and join us for a coffee or beverage on stand D38 on 11th & 12th May - We look forward to seeing you there!
BIBA launches petition
BIBA has launched a petition for members, to be tabled to the House of Commons on the Financial Services Compensation Scheme (FSCS).
The petition has been sent to all BIBA members and advises that they have been working with the All Party Parliamentary Group on Insurance and Financial Services to highlight the unfairness of the FSCS.
The main aim is to try and push their other efforts on the FSCS and BIBA hope this will send a strong message to Parliament to review the FSCS funding model.
Read the full article here.
BIBA 2011 Theme - "Opportunities in Adversity"
The BIBA 2011 Conference & Exhibition is approaching and BIBA have announced that this year's theme will be "Opportunities in Adversity".
This year's theme title was chosen in recognition of the ever troubling economic climate facing all of us in the UK, as well as giving encouragement to brokers aiming to be stronger business models in the industry.
BIBA 2011 will continue to follow in the two-day format, which was launched in 2010 and will be held on 11th & 12th May, at Manchester Central.
BIBALet will be attending this year's Conference and we look forward to meeting you on stand D38.