Thinking Risk

A GRP blog providing insurance and risk insight

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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.

News July 6, 2020

Why Covid-19 makes D&O Insurance Vital

The Coronavirus lockdown has created a high risk environment with increased likelihood of legal action against Directors and officers relating to breaches of Health and Safety regulations and employment law.

Vehicle check
News May 14, 2020

Best practice advice on how to lay your vehicles up, store them and then bring them back in to operation

Government guidelines regarding non-essential travel in the COVID-19 pandemic have meant that businesses which use commercial vehicles may need to ‘lay up’ their vehicles.

Laying up helps preserve a fleet while the vehicles aren’t being driven for an extended period. This technique also helps ensure that vehicles can smoothly transition back to normal road use when needed.

The following best practice provides guidance on laying up commercial vehicles, and on how to safely get them back on the road after the lay-up period.

News March 19, 2020

Guidance on COVID-19 business continuity planning for SMEs

As the COVID-19 pandemic changes the way businesses in the UK function, this practical guide provides advice for SMEs on how to best manage the crisis.

News March 17, 2020

Cyber hackers’ phishing campaigns exploit global concern about the Coronavirus

Cyber hackers are taking advantage of the coronavirus outbreak by sending messages to victims, and by using the name of legitimate health organisations to steal information or distribute links to websites designed to steel identification information such as login credentials.

Here’s an example of a phishing email impersonating the World Health Organisation with an attachment that leads to the installation of malware.