Home Our Broker Businesses Thinking Risk Thinking Risk A GRP blog providing insurance and risk insight NEWS OCTOBER 28, 2021 As businesses emerge from the pandemic, Commercial Legal Expenses insurance is more important than ever UK SMEs typically lose £13.6bn each year from legal issues, and this cost is on the rise. Costs of a legal dispute can be seriously damaging for a business and can even prevent companies from trading. Commercial Legal Expenses insurance can help take the strain, reducing the costs and time spent on legal disputes. This article highlights some of the post lock-down issues which are driving litigation and outlines how legal expenses insurance can help. → NEWS AUGUST 18, 2021 The difficult Professional Indemnity market, and how PI insurance buyers can help their broker to achieve the best solution possible for their business. "Is the current Professional Indemnity market harder than Only Connect? Yes, it really might be even harder than the fiendishly difficult BBC quiz show. It is certainly the most difficult and challenging insurance market I’ve experienced in over 30 years in the industry, and the underlying problems were all solidly in place and building long before we could all spell 'coronavirus'." Sean Trent, Divisional Director of Lonmar Global Risks (part of the GRP Group) discusses the difficult Professional Indemnity market, and how PI insurance buyers can help their broker to achieve the best solution possible for their business. → NEWS JUNE 18, 2021 The property insurance market continues to harden in 2021 Both the residential and commercial property markets have steadily hardened in recent years, resulting in premium rate hikes every quarter since Q3 2018, along with an increasingly restrictive risk appetite and more stringent terms from insurers. Unfortunately, this trend is continuing into 2021. This article examines the reasons for this hard market, and provides advice to property owners about how to minimise its impact on their renewal premium and terms. → NEWS APRIL 19, 2021 Guidance on getting back to work post Covid The Covid emergency has been the catalyst for rapid change and innovation in business practices. As we start to see a light at the end of the tunnel with a return to less restricted working, now is the time to think about what has been leaned over the last year, and how this can make a positive difference to your business effectiveness in the future. → NEWS FEBRUARY 22, 2021 Why the lockdown has triggered a cybercrime epidemic Remote working means cybercriminals can potentially attack business systems by hacking staff’s personal devices A recent Symantec analysis suggested that about one in every 3700 emails is now a phishing email. The Office for National Statistics recorded a 53% increase in hacking in the year to September 2020, - about 4500 small businesses are hacked every day 40% increase in “malware” attacks which lock businesses out of their own systems – average cost per attack £600,000 The escalating impact of cyber crime means cyber insurance is now more important than ever for small businesses → NEWS JANUARY 18, 2021 IMPORTANT COVID 19 CLAIM NEWS IMPORTANT COVID 19 CLAIM NEWS: Friday 15th January The Supreme Court upheld the judgement on the Financial Conduct Authority’s business interruption test case. → NEWS DECEMBER 15, 2020 Directors and Officers insurance offers valuable cover for members of residential property management associations Members of residential property management associations fulfil an important role which comes with serious responsibilities. Management Liability Insurance provides directors, trustees & officers of companies and associations cover for legal costs, awards and settlements for any claim or regulatory action → NEWS NOVEMBER 24, 2020 BIBA Briefing on travel to the European Union following Brexit With the outcome of Brexit negotiations still uncertain and the deadline for a deal fast approaching, it is important for motorists who intend to travel to Europe after the 1st January to be aware of the potential changes a no deal Brexit will require. → NEWS OCTOBER 7, 2020 The Road Haulage Association have introduced a major update to their Conditions of Carriage The recent revision includes a number of changes which provide added protection to hauliers. This article summarises the changes, and outlines why this is important from an insurance perspective. → NEWS SEPTEMBER 15, 2020 The insurance market is hardening, bringing increased premiums and tightening of terms. In this difficult environment it is more important than ever to work proactively with your broker. This article reviews current market conditions, and provides guidance on how to work with your broker to manage the hard market. → 1 2 3 About our Group Acquisitions Our Broker Businesses Our Underwriting Businesses Hedron Network News Contact us 7th Floor Corn Exchange 55 Mark Lane London EC3R 7NE T: 0203 813 6900 E: info@grpgroup.co.uk © Global Risk Partners Limited. Registered office: 7th Floor Corn Exchange 55 Mark Lane London EC3R 7NE Terms and conditions Privacy policy Modern Slavery Statement Cookies By continuing to use the site, you agree to the use of cookies. The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Accept