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Attention Residential Landlords - July 2011
The Court of Appeal has decided in Grand v Gill that internal plasterwork in a building is part of the structure of a building, and as such any repairs to a property will be the obligation of the landlord.
Where damp and condensation are either caused or made worse by disrepair to the structure and exterior, a solution will be required from the landlord. However, one matter that would also help has been left unresolved. Damp and condensation often cause damage to internal plasterwork that goes beyond the purely decorative. While the landlord will be required to replaster when the problem comes from external disrepair, it is still unclear what the legal requirements are in the many instances where the underlying cause is defective design.
This ruling places further emphasis on landlords to ensure that the properties they are letting are of a high enough standard.
Government releases plans for sustainable building - June 2011
Government releases plans for sustainable building The government has released proposed changes to a planning policy that aims to increase building across the UK as well as protecting the environment.
Local authorities will be urged to create local plans which outline what type of building is most preferred in their area.
A National Planning Policy Framework will also ensure that any building proposals are in line with environmental regulations for sustainable development.
Housing minister Greg Clark commented: "By putting this presumption at the heart of our new framework we will give the planning system a wake-up call so the right sort of development ... gets approval without delay."
Britain to become nation of renters - June 2011
It is believed that Britain is turning into a nation of renters, following recent surveys which could have major implications in the future.
Recent research revealed a high percentage of people had no plans to buy their own homes due to steep house prices and the ongoing shortage of mortgages and first-time buyers are expected to reach the age of 38, before being able to buy their own homes.
The research showed that 77% of non-homeowners still plan to own their own homes, however nearly half of 20-45 year olds believe Britain will become a nation of renters, just like the rest of Europe.
Squatting to become illegal? - June 2011
With over 700,000 empty properties in Britain today, there has been a rise in the number of squatters.
Squatting is classed as trespass and therefore a civil wrong, however the coalition government is proposing to introduce a new law that will make squatting a criminal offence. This will bring England and Wales in line with Scotland where the courts can imprison squatters for up to 21 days.
Currently, an owner cannot evict a squatter without obtaining an order for possession and instructing the court bailiff to enforce it. If the proceedings are unopposed and using the standard procedure, it takes four to eight weeks to obtain an order and a further two to four weeks to arrange for the bailiff to evict the squatters, so it’s not a quick process.
Grant Shapps, the Housing Minister wrote in The Sunday Telegraph: "This Government is acutely aware of the misery squatters can cause, and the anger at the perception of 'squatters' rights' and that these people who invade properties can do so and go virtually unpunished. That is why we are working to strengthen the law to make it a criminal offence."
This highlights the importance of advising insurers of vacant properties or part vacant properties as squatters are just one reason insurers don't look favourably on empty properties. If you have any questions please don’t hesitate to get in touch with us on 01420 488 288.
Property leaders call for legislation on Display Energy Certificates (DECs) - May 2011
20 Property leaders have taken the unusual step of calling on the government to impose regulation on the property industry. The key industry players wrote to Prime Minister David Cameron and Deputy Prime Minister Nick Clegg asking them to continue with their plan to make Display Energy Certificates (DECs) mandatory for all buildings.
DECs are currently mandatory for public sector buildings of 10,750 sq ft or more, and give an actual measurement of energy usage. The government plans to make them compulsory for commercial buildings from October 2012, but rumours have surfaced that the coalition may drop this initiative.
The letter, from the British Property Federation and the UK Green Building Council, argues that without legislation private property owners could be disadvantaged by opting to display their energy ratings. They argue that the benefits of the scheme far outweigh any costs, and by implementing DECs businesses will have an accurate measure of energy use, making it easier to reduce emissions.
If you would like to get a DEC arranged for your property, we can point you in the right direction. Give Cadogan Keelan Westall a call on 01420 488 288 to discuss your needs.
Alternatively, you can subscribe to our Technical Bulletins to get insurance advice, products and useful information for Property Owners and Managers.
SMEs in the dark when it comes to commercial insurance - May 2011
Recent research carried out by DVL Smith's Evolution into the UK SME commercial insurance market has highlighted gaps and opportunities for insurers and brokers.
The findings has revealed that the majority of SMEs are in the dark when it comes to commercial insurance, with 43% of them aware they do not have sufficient cover and more shockingly, 18% believe they do not have to purchase Employers' Liability Cover, despite it being a legal requirement.
When asked what was preventing SMEs purchasing additional products it seemed there was a high level of confusion when it comes to the cover required, variety of products offered, price and lack of time.
Jen Del Carlo, Director, DVL Smith said; "It's well documented that SMEs are time poor and the current economic climate only puts more demands on business owners. From an insurer's perspective SMEs are clearly a diverse audience with a varied set of needs. SME commercial insurance providers seem to be missing an opportunity to really understand their target customers, and thus we see a gap in terms of current and potential coverage."
The research also highlighted a lack of awareness of providers with 25% of SMEs unable to name one insurance provider.
Change of use legislation - April 2011
In the budget last month the government announced that it is to ease the restrictions on converting offices to residential properties.
By doing away with use-class restrictions property owners will once again be able to use their properties as they wish.
Particularly around London’s Old Street, Southwark and north of Oxford Street large areas of business space are laying empty, which would be ideally suited to high-density housing and first-time buyers. Most major cities have areas that have an abundance of disused office space, and being able to convert them to residential properties will breathe new life into tired areas.
This change in use may mean that local authorities lose their business rates; however they will receive a windfall through the New Homes Bonus scheme (which will match the additional council tax raised for new homes and properties, with an additional amount for affordable homes, for the following six years).
Claims Survey Results - March 2011
We recently asked as many of you as possible who have made a claim in the last 3 months to take part in a short Claims survey asking for your feedback on the service we provided to you whilst dealing with your claims.
We constantly strive to improve our performance and service so any feedback we receive from you is essential for our team’s development.
The results have been compiled and we are very pleased to announce that our Cadogan Keelan Westall Claims Department have had an excellent response rate with 100% of you either very satisfied or satisfied with our Claims service – We also received some very positive feedback. See the results of our survey here.
Sue Regan – Claims Manager commented “The results are very encouraging and we have noted a couple of areas for improvement, i.e. updating clients and as always, improving upon our settlement times.
We can assure you that we do take on board all of your comments and we would like to say a big thank you to those of you who took part.
From the surveys which were submitted to us, we were able to draw a winner - Congratulations to Terence Ibbitson who won a ‘Spicers of Hythe’ luxury domed hamper filled with delicious goodies.
Read the full press release here.
Cadogan Keelan Westall makes donation to aid efforts in Japan - March 2011
We have all been saddened by the tragic events in Japan last week which follow recent natural disasters in Australia and New Zealand and tensions in the Middle East.
Cadogan Keelan Westall have made a contribution to the disaster relief effort by donating to Save the Children and the Red Cross. Our thoughts are with those who have lost loved ones and homes in the disasters. We have made a donation to charities trying to help with the aftermath in the hope our small efforts will be beneficial.
These events will, inevitably have an impact on our businesses and there is already speculation about the impact on insurance rates as a result. We are in contact with our insurer partners and will update you as to their views and any developments that ensue.
Insurance mandates for substantial European commercial property portfolios - March 2011
Cadogan Keelan Westall (CKW) recently secured insurance mandates for substantial commercial property portfolios in Europe. Funds across Germany, Netherlands and further across Central & Eastern Europe are due to come on line in the next few months.
These new acquisitions will support our aim of trebling the value of our non-UK book and our ever-continuing drive to expand and maintain a strong presence in Europe. The launch of our City office earlier this year, where the team have a long history of working with clients with overseas interests, is already paying dividends.
We offer outstanding service and market leading turnaround times - we keep processes simple and do not over complicate matters.
We listen, we create, we deliver.
Now you can make a claim online - March 2011
When you've got to make a claim it can be an incredibly stressful time for all involved.
That's why CKW is making it a bit easier with the introduction of our new online claims form.
You can submit your claim online in minutes and it goes straight to our team of experienced claims handlers, saving you time.
Best Companies - 'One to watch' - February 2011
We are proud to announce that we have been awarded with the best companies ‘one to watch’ accreditation. The Accreditation has been established to acknowledge excellence in the workplace and focus on workplace engagement as an integral component of an organisations success and growth.
Read more about the Best Company Accreditation.
RICS Guidance Note 1st Edition (GN62/2010) - Insurance for Commercial Property Managers
The RICS published the above guide in December 2010. This provides advice to property managers in respect of all matters to do with the requirements for insurance and risk management for commercial property. Spanning 68 pages, this provides a wealth of advice on all aspects of protecting property both by insurance and risk management, including business continuity planning. The interests of property owners as well as property managers, tenants and lenders are all covered in the guide, which also aims to explain the reasoning behind insurer attitudes to property owners business and how the risks are underwritten.
The guidance note acknowledges the importance of seeking advice from insurers and brokers who are specialists in the area of property insurance and this is where Cadogan Keelan Westall can help.
A further report was issued this week by Property Week specifically concerning unoccupied properties, entitled "Empty Property - Protect and Survive".
Both the RICS guide and the Property Week report (the latter of which was produced in association with Aviva) highlight the fact that where a property is to become vacant or part vacant, brokers should be advised at the earliest opportunity to avoid future problems. Every situation is unique and Cadogan Keelan Westall has a wealth of experience in providing advice to property owners in these situations. The costs of satisfying insurers requirements in respect of security are minimal when compared to the potential loss and inconvenience following an arson attack for example.
Subscribers to Property Week can view the report online. For further information on flexible solutions for vacant properties, you can refer to Sitex Orbis, who took part in the Property Week forum and are an insurer recognised company.
Unfortunately, in the current economic situation, vacant properties are likely to be an ongoing and increasing problem.
What can you do to further protect yourself? For additional information please see our Technical Bulletins on legal expenses:-
Should you wish to discuss further you can contact any of our underwriting team
As detailed in October’s spending review the Government has budgeted to spend £500million on flood defences each year from 2011 to 2015.This is approximately half the £1billion pounds a year that the Environment Agency had recommended.
To put this in perspective, the Thames Barrier, the world’s second largest movable flood barrier, cost in the region of £534million, with an additional £100million invested in river defences, at the time of completion in 1984 when it was officially opened by Her Majesty Queen Elizabeth II.
An incident that could have been potentially catastrophic occurred in 1997 when a dredger MV Sand Kite, collided with one of the Thames Barrier’s piers making it inoperable. It was estimated that if flooding had occurred before the barrier was repaired it would have cost Insurers in the region of £13billion.
The Insurance industry has guaranteed to cover the majority of properties in the UK until the Statement of Principles on Flood Insurance comes to an end 2013. There is concern that once this expires substantial numbers of properties will become uninsured or uninsurable breaching mortgage contracts with lenders.
The Association of British Insurers (ABI) http://www.abi.org.uk/ confirms that without the investment from the Government as advised by the Environment Agency its members do not plan to renew their guarantee to cover properties at risk of flooding after 2013.
In the last decade ABI members have paid out £4.5billion to customers affected by flood damage, three times the £1.5billion paid out in the previous decade – it has been estimated that the total value of assets at risk of flooding is in excess of £200billion.
In the current climate of spending cuts and cost savings property owners should ensure they maintain a long term, pragmatic approach to Risk Management including insurance costs to ensure they fully protect their premises.
For further information on flooding you can refer to our flood report and our Technical Bulletin which advises on measures that can be taken to install suitable temporary and permanent flood defences.
RICS Practice Standards report issued for the UK - December 2010
Hot off the press: RICS have just recently issued their Practice Standards report on Insurance for Commercial property managers. Available to RICS members only via their website, the report covers in detail a wide range of topics including Leases and Insurance provisions, the insurance of Buildings; Loss of Rent; Average and underinsurance conditions; Property Owners public liability insurance; Engineering Insurance and Inspection; protection of Third Party interests; subrogation and waivers of subrogation; premium calculation and apportionment systems.
Our Key Client Managers Rachel Elliot and Steve Gamble are currently reviewing the document and will report back very soon with comments on the report.
If in the meantime you have any questions please do not hesitate to contact either Rachel or Steve who will be happy to assist.
relliot@cadogankeelanwestall.com
sgamble@cadogankeelanwestall.com
Claims boast settlement times of a third less than some Insurers - December 2010
We recently reported on how our Claims team have achieved Delegated Authority to settle property claims up to £2,500 (nett of excess) for Aviva, making them the second insurer on our panel, after Zurich, to extend this authority to us.
80% of claims can now be managed in-house without reference to Aviva which only serves to improve our claim turnaround times.
Claims handled by CKW without any delegated authority take an average of 19 weeks to settle compared with claims handled directly between the insured and the insurer which take an average of 30 weeks to settle. Under our delegated authority schemes average claim settlement times reduce to 9 weeks making the difficult task of managing a claim easier, less inconvenient and less costly for you.
With the recent extreme weather conditions sweeping across the nation it is imperative that extra care is paid to heating systems to avoid burst pipes, leaks and resultant damage. Sue Regan, Claims Manager comments: “We have seen a significant rise in burst pipe claims in quarter four due to the weather conditions we have had to endure. The maintenance of heating to avoid frozen or burst pipes can be daunting and we are happy to advise on suitable preventative measures.” Read our handy winter hints and tips for advice.
Alongside this advice, Cadogan Keelan Westall are currently promoting‘’ Waterguard’, a device which can be installed to monitor unusual or unexpected water flow such as would happen in the event of burst pipes. For further information on the Waterguard product click here.
Are you completely covered this Christmas?
Protect your home from flooding - Prevention is always better than cure - December 2010
As a result of some in-depth training, Amber Davis, one of our Account Executives produced this report which examines in detail the different types of flooding, preventative measures and the variety of temporary and permanent flood defences available.
Issue 17 in our catalogue of Technical Bulletins, sent out in Spring this year, also covers this topic and focuses on the Government's position and regulations. Read more
Claims Team have delegated authority to settle claims* on behalf of Aviva
Cadogan Keelan Westall are delighted that their in-house Claims team have now achieved delegated authority from Aviva to process and settle claims in-house, for claims up to *£2,500 in value.
Operational from 1st November 2010 and alongside the validation service of Merlin, our team now has the facility to validate claims, survey works required, provide estimates and carry out repairs if necessary.
The team can now settle claims for both Aviva and Zurich and which means speedier claims settlements and happier clients.
The benefits are as follows:-
· Reduce length of time to settle claims
· Strong relationships with Insurers
· Dedicated account handlers
· Pro-active, “can do” attitude
· Appoint loss adjusters
· Delegated authority on behalf of certain insurers
· Working closely with your broking team
Download our claims flyer
Insurance Premium Tax (IPT) and Value Added Tax (VAT)
Please be aware that the Government will be increasing both IPT and VAT from 4th January 2011
IPT was 5% will now be 6%
VAT was 17.5% will now be 20%
All new business, renewals and adjustments to existing policies resulting in an additional premium from 4th January 2011 onwards will attract the higher rate of IPT or VAT as appropriate
IPT for Travel Insurance and some insurance for vehicles and electrical/domestic appliances will increase from 17.5% to 20%.
Adjustments to policies from 4th January 2011 onwards resulting in a return premium will attract the old rate of IPT or VAT
Customers who incept policies or whose renewal date is prior to the 4th January 2011 will attract the old rate of tax
www.hmrc.gov.uk/index.htm
Problem tenants - How can we help - October 2010
A recent topic of discussion on Jeremy Vine's Radio 2 show and covered in detail by the Financial Times, The Mail, London Evening Standard, The Independent and The Times, (to name a few) was the subject of difficulties faced by landlords with problem tenants. The most common problem is the issue of non-payment of rent and costs incurred by tenant eviction.
Based on statistics published by the NLA (National Landlords Association) the average rent arrears stands at £4,500 per landlord, amounting to in excess of £220 million nationally and inclusive of all LHA (Local Housing Allowance) debt.
Alongside your buildings insurance, Cadogan Keelan Westall can arrange for Landlords Legal Solutions Policies. The policy itself is easy to arrange with minimal information required and no proposal form to complete. Some of the Key benefits are policy cover with a £50,000 limit of indemnity for any one claim, free telephone helpline providing legal and tax advice 24/7; and the option to include Loss of Rent cover (Rent Indemnity) for up to 12 months. (Full details available upon request)
Legal issues can be time consuming, expensive, stressful, complex and difficult to resolve. Gaining access to a legal adviser and finding the time to see them can be difficult, and then there are the costs that will be incurred whether they can actually assist or not.
With premiums starting from only £40 + IPT (excluding Rent Indemnity) a Landlords Legal Solutions Policy removes the financial burden of pursuing or defending your rights. To discuss further please contact Kristina Hudgell on 01420 470 506 or by email on khudgell@cadogankeelanwestall.com.
New sponsorship opportunity for Cadogan Keelan Westall - October 2010
In a bid to back local communities and young professionals Cadogan Keelan Westall are pleased to be supporting the N.I.C.S.P.A League.
Run by a longstanding client Cadogan Keelan Westall have proactively taken an interest in this new body set up by snooker players, snooker club owners and businessmen with an interest in the future well being and development of snooker in Northern Ireland as well as the creation of opportunities for the future aspirations of the next generation of potential professionals.
Their strategy encompasses the desire to promote and create a culture of enjoyment, fulfilment and achievement in snooker within the amateur game at junior and senior levels. The N.I.C.S.P.A represents both snooker players and clubs to ensure that fairness and equality is available to all, whilst endorsing the future development of youngsters with professional ambitions. Ultimately these goals will provide sustainability and enduce the support of Northern Ireland’s local snooker clubs.
The league is taking place at 14 snooker clubs around northern Ireland over a period from September 2010 to May 2011, with each club matched against each other.
www.nicspa.com
The Problem With Unoccupied Buildings - September 2010
When recession bites, more businesses fail and more individuals lose their jobs. One of the consequences of this is that properties – both commercial and residential – are becoming unoccupied. This has serious implications for insurance cover.
In the current economic downturn we are seeing a significant increase in the number of claims for vandalism, theft and arson. Squatters are also an increasing problem. The theft of non ferrous metals is particularly prevalent.
What should you do if one of your properties becomes vacant? Read more here
Cadogan Keelan Westall website awarded Crystal Mark - August 2010
We are delighted to be given approval for our website to use the Crystal Mark, the Plain English Campaign trademark.
The plain English Campaign was founded in 1979 to prevent the public being given misleading information and they are highly respected for their work with Government departments and other professional bodies. Their goal is to ensure that the information given to the public is completely transparent or "crystal clear."
As Cadogan Keelan Westall provide you our direct clients, with insurance information and may advise on certain covers required, we wanted to offer a guarantee that their is nothing hidden in what we say about ourselves and our services.
We are proud to display the trademark and trust you will feel secure in the knowledge that we are committed and willing to do everything to ensure our site is crystal clear.
Should you wish to find out more please see... www.plainenglish.co.uk
Property Race Day - July 2010
Ben, Michelle, Rachel & Darren were delighted to host a table at this year's Property Race Day. The event was moved to Ascot in this, its fourth year which meant all 71 tables were in one room, making for an even better atmosphere than previously. On a day of glorious sunshine everyone enjoyed a champagne reception, three course meal, auctions and evening entertainment as well as the racing.
This year the charity event raised money in support of Land Aid www.landaid.org and SOS Children's Villages www.soschildrensvillages.org.uk and Cadogan Keelan Westall were proud to once again be one of the sponsors.
Rise in Insurance Premium Tax - 5% to 6%
As many of you may be aware there has been much speculation over Insurance Premium Tax in the past few months, with suggested percentages as high as 10%!
Following Parliamentary emergency budget announcements today (22/06/10) Chancellor George Osborne confirmed that indeed there will be a lift in Insurance Premium Tax. Effective on January 4th 2011, Insurance Premium Tax will increase from 5% to 6%.
It is worth noting that Personal Travel Insurance has been hit by the increased rate from 17.5% to 20% which will also be effective from 4th January 2011.
Should you have any queries please contact your account handler for further information.
Our latest Customer Satisfaction Survey Results - April 2010
We are pleased to announce the results of our latest customer satisfaction survey.
We constantly strive to improve our performance to our clients and receiving feedback from you is essential to this process. We do take on board all of your comments and use this to improve our performance.
Thank you for taking the time to complete our survey.
Click here to see our results
Cadogan Keelan Westall Business Breakfast - February 2010
Cadogan Keelan Westall were pleased to host the Bordon and Whitehill Business Breakfast on Thursday 25th February. We provided a sumptuous breakfast including bacon sandwiches and Danish pastries.
Cadogan Keelan Westall are keen to work closely with local businesses and this gave us the fantastic opportunity to meet local business owners in a relaxed and informal environment to discuss their commercial property insurance requirements.
Customer Satisfaction Survey update
A great big thank you to all our clients who took the time to complete our Customer Satisfaction Survey. We are pleased to announce that the winner of our Magnum of Champagne is Danielle Leon from Esskay Management Services, congratulations!
We will be compiling all the data and providing you with feedback very soon.
Cadogan Keelan Westall shortlisted for Claims Team of the Year" - Insurance Day London Market Awards 2009
We would like to congratulate our dedicated claims team in being shortlisted for the Insurance Day London Market Awards, with special recognition and thanks to Sue Regan who submitted the entry for the Team.
"Our philosophy has always been to provide a first class 'personal' service to our clients and the team is dedicated to ensure each claim is dealt with as efficiently as possible in a courteous and professional manner." Sue Regan – Claims Manager
The event was hosted in the Ballroom at the Grosvenor House Hotel in London on Thursday 3rd December. 420 guests enjoyed an awards banquet, including public speaking and hosting by Robert Marshall Andrews; the Labour Member for Parliament for Medway.
The sponsors this year were: CII, Clyde & Co, Dewey & LeBoeuf, Markel International, Holman Fenwick Willan HFW & QBE and the twelve categories for the 2009 event were;
The criteria for Claims Team of the Year entrants were that the winner must have shown a good track record for excellent claims handling skills, or must have put in place a claims initiative which benefitted the customer and demonstrated innovation both in underwriting risk and dealing with claims. The judges focused on the skill of establishing claims paying processes, including transparency and service to the client, speed of payment, elimination expense costs and innovation in the claims paying processes.
Chosen from hundreds of submissions; we were shortlisted and sat proudly amongst many well known international insurance companies as the providers of a first class Claims service.
Our submission highlighted not only our customers' testimonials on working ethics but included detailed information on how claims had improved their speed of payment.
Energy Performance Certificate update
Air conditioning systems can account for up to 50% of the energy used in a building and as such are specifically targeted under the Energy Performance of Buildings (England and Wales) Regulations 2007 which came into force earlier this year
See our technical bulletin