As you may be aware, Zurich has recently announced the loss of a data tape containing customers' personal data relating to their Zurich Private Client, Zurich Special Risk or Zurich Business Insurance Direct policies.
We contacted Zurich as soon as we were made aware of the problem yesterday for clarification of some key points.
Once Zurich had notified the FSA of the loss of data they were instructed to write directly to policyholders informing them of their position. Zurich has confirmed that ideally they would have wished to inform brokers in advance of any direct communication to clients. Unfortunately, the FSA would not allow them to do that in this instance.
We understand those policies that were live with Zurich on 20 August 2008 are affected. Any Policyholders whose cover was incepted after that date have also been notified of the incident, but have been assured their data is not included in the loss.
We are satisfied that steps have been taken by Zurich to prevent any further loss of client's data. We have no reason to believe at this time that any customer of Cumbria Insurance Brokers Ltd is at risk from this incident.
We will continue to monitor Zurich's activity and provide any updates we receive.
As detailed in Zurich's letter to customers, part of the action taken is to set up a response team to provide support and assistance to brokers and customers. Please see below contact details:
Broker phone line: 0800 404 7687 Customer phone line: 0800 404 7690 (Please note these phone lines are open 8.00 - 22.00 Monday to Friday; 9.00 - 17.00 Saturday and 10.00 - 16.00 Sunday).
Email (for use of brokers and customers): queries @uk.zurich.com
Postal address (for use of brokers and customers): Zurich Insurance plc, PO BOX 641, Fareham, PO14 9JP
In view of the serious flooding experienced throughout the county, please find listed below emergency helpline numbers for the majority of our insurers who are operating 24 hour 7 days a week helplines.
AXA - Home 0870 556 1161 and Motor 0870 903 5999
Fortis - Motor 0845 122 3018
NIG – Home 0845 607 1626
Norwich Union – Home 0800 012 345 and Motor 0800 678 999
Royal & Sun Alliance – Home 0870 165 0501 and Motor 0870 165 0501
Zurich – Home 0845 601 0869 and Motor 0800 400 641
Our office is open Monday to Friday from 9am to 5pm, tel. no. 01228 531071.
On 30th April 2010, new regulations will be coming into force that will radically alter the way that motor personal injury claims are dealt with.The biggest challenge arising from these changes is encouraging customers to report their claims as quickly as possible so that investigations and liability decisions can be made within the new 15-day period.
The reforms necessitate customers reporting an accident quickly, so that insurers can deal with third party claims within the tight new time frame.
The claims affected are third party motor personal injury claims specifically those:-
valued at between £1,000 and £10,000
arising out of road traffic accidents in England and Wales only at the outset.
Key changes include:
Personal injury claims will be reported through a new web-based portal.It is anticipated that claimant representatives will be using the Motor Insurance Database (MID) to identify insurers.
There are three stages in the new process being introduced by the MoJ reforms with strict timescales and interim fixed cost payments at the end of each stage.
The decision by insurers on liability must be made within 15 working days of receipt of the claimant’s notification, so swift notification by customers is essential.
Fixed costs will be applied at various points in the new process which should represent a saving on traditional costs.However if the case comes out of the new process, costs will increase.
Once liability has been agreed, further strict timescales will apply throughout the claim.
AVIVA has launched its new television advertising campaign, fronted by Paul Whitehouse, urging businesses to seek advice from a broker.
The ad, first aired on Sky Sports on Sunday 4th October, will also run on terrestrial TV for a further month. This is the first time Aviva has targeted company owners to encourage them to talk to brokers for the best value cover for their business.
Brian Spinks, Aviva head of sales and marketing, said:
"The advert has been designed to encourage more businesses to appreciate the expertise and knowledge that the broker can bring.
Creating an advert that specifically supports the broker channel helps demonstrate our commitment, and we hope brokers will be pleased with the end result."
AXA Insurance has warned that
cutting back on insurance can prove to be a false economy, after new
research found many companies are putting employees at risk by failing
to take out adequate cover.
In a survey of hundreds of UK businesses, AXA and the British
Chambers of Commerce have found that only a third understood they are
legally bound to take out employers' liability insurance.
The
research also found that 15% of respondents have considered cutting back
on their level of insurance cover, while 5% have already done so.
Doug Barnett, AXA head of customer risk management, said: "These
statistics should be a wakeup call to all businesses and the insurance
industry alike. With the economy as precariously positioned as it is at
the moment, the last thing needed is more businesses needlessly going
to the wall because they are not properly insured."
AXA has warned against cutting back on insurance, although 13% of
businesses have less than £1,000 disposable cash and 48% have less than
£10,000. It said that one in nine businesses are likely to make a claim
each year and without the appropriate insurance, they would be left
highly vulnerable in the event of a claim.
The research revealed that less than half of employers read their
insurance documentation (49%) and only 23% keep it in a secure filing
system either on or off site. A total of 4% of employers also admitted
to not having any idea what they are covered for.
The cost of fire damage is rising, with both occupied and vacant properties being affected. In fact, the problem is at its worst since records began.
Statistics from the Association of British Insurers show that fire claims rose again by a further 20% between the first half of 2007 and the first half of 2009, with arson contributing prominently to the cost¹.
Allister Smith, property risk manager for Aviva, said, "Fire claims are at their highest and we are seeing an increasing number of arson claims crossing our desks. Over 40% of all fires in industry and commerce are now started deliberately."²
Another major concern is fire damage to unoccupied and unfurnished properties, with around 9,000 fires a year occurring in empty buildings³.
You should ensure properties are being regularly inspected, re-secured and repaired.
Ideally, businesses should carry out a weekly log of inspections to make sure the building remains secured. And they should also ensure that the perimeters around the property are secure too - with good quality, well-maintained fencing, walls and gates, and entrances to windows fully sealed and boarded up.
It's a small price for your clients to pay considering the damage and destruction arson can cause.
