Home & Gift, Harrogate - Gift Focus magazine

Neil McFarlane, sales and
marketing director, of
T.H. March & Co Limited
Qnegotiate terms
Are insurance long term agreements
worthwhile?
Neil Asays: Over the past few years commercial
insurance premiums have been very
competitive, however, there are signs that
such premiums may now start to increase
and it may be worthwhile trying to negotiate
with your insurer to see if they will fix their
terms for a period. If you do decide to enter
into such an agreement, it is very important
that you make certain you fully understand
the precise terms of the agreement and what
obligations both parties are committed to.
Q
A
peace of mind
Are my liability limits adequate?
Neil says: As final costs relating to the
Buncefield oil storage depot disaster are
becoming clear, there is now focus on the level
of potential claims that may arise. Whilst this
was an exceptional event and few companies
will have this level of exposure, the principle
remains. Increasing your liability limits may not
be as expensive as you think and could give
you extra peace of mind.
Qduty to manage
Where can I get further information about
‘duty to manage’ regulations with regards to
health and safety?
Neil Asays: The Health and Safety Executive
(HSE) has teamed up to produce a fact
sheet with the British Independent Retailers
Association (bira) – an independent retail
trade body (formerly the BHF-BSSA Group)
representing more than 7,500 small retailers
- after it was found that compliance with
‘duty to manage’ regulations was particularly
low in this sector. Any person or organisation
38 giftfocus
insurance solutions
Gift Focus readers put their insurance queries, concerns and questions to
leading brokers T.H. March
responsible for the maintenance or repair of
non-domestic premises will almost certainly be
responsible for managing any asbestos present,
under Regulation 4 of the Control of Asbestos
Regulations 2006.
The fact sheet outlines:
• Who has the duty to manage;
• What the duty to manage means;
• Three essential steps to comply with the
duty; and
• Advice on asbestos surveys.
The fact sheet is available to bira members
- contact the bira information office on
information@bira.co.uk
Qprotection for company directors
I have been hearing a lot about directors’
and officers’ liability cover, why should I invest
in this?
ANeil says: Directors’ personal liabilities are
unlimited and in the course of carrying out
everyday duties for a company, directors are
exposing themselves to personal lawsuits,
investigations and criminal prosecutions.
Without insurance, directors can end up
having to re-mortgage, or worse, just to pay
legal fees.
When a director needs to defend lawsuits,
investigations and prosecutions, being able to
draw on insurance funds in order to hire the
best law firms in the country will help achieve
the best possible outcome.
There is an increasing number of
government bodies that can investigate a
company – the DTI’s Companies Investigations
Branch, the Health & Safety Executive (HSE),
the Serious Fraud Office, the Disability
Rights Commission, to name a few – and an
increasing focus on smaller businesses. Even
when there is no initial allegation against
a director, having the funds to obtain legal
representation at these investigations allows
directors the most positive results.
In one year*
(a) Over 1,500 directors were disqualified for
between two and 15 years;
(b) The DTI’s Companies Investigations Branch
looked at almost 5,000 companies; and
(c) The HSE issued over 11,000 notices and
prosecuted 982 cases. g
(*DTI’s annual publication on companies provides
further detail)
Further information
T.H. March is a well-established family
business founded in 1887. With offices in
London, Birmingham, Manchester, Glasgow,
Sevenoaks and Yelverton near Plymouth,
the company has departments covering
household, motor, travel, commercial and
scheme insurance. To find out more visit
www.thmarch.co.uk.