PSP Insurance and Financial Services

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Economic Review of February 2013
01/03/2013
New Deputy Governor appointed at the Bank of England The Bank of England has announced that Andrew Bailey, currently Managing Director of the Prudential Business Unit at the Financial Services Authority, has been appointed as Deputy Governor of the Bank of England, with effect from April 1st. This will be the first time that the Bank will have three concurrent Deputy Governors.
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Economic Review of January 2013
04/02/2013
Office of Fair Trading gives fuel industry a clean bill of health In a controversial report, the Office of Fair Trading (OFT) said that motorists and hauliers are paying fair fuel prices in the UK. Their 6-week study of the £32bn petrol and diesel market concluded that little action was needed.
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Economic Review of December 2012
03/01/2013
Funding for Lending starts to work The Funding for Lending (FLS) scheme - introduced earlier this year by the Bank of England to offer cheaper funded money amounting to approximately £60bn to banks and building societies to enable them to lend-on to individuals and smaller businesses – is showing signs of starting to work. Although in early December they reported that only £4.
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Economic Review of November 2012
02/12/2012
Surprise choice for new Bank of England Governor In a surprise announcement by the Chancellor of the Exchequer, George Osborne, Mr. Mark Carney has been named as the new Governor of the Bank of England.
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News

Special cover for special people
14/5/2013

Are you really comparing the market? Price comparison sites are extremely useful and offer the active internet surfer access to multiple insurance quotes at one hit.

However, price seems to be the leading differentiator and not always does cheapest mean best, or even offer the most appropriate cover.

Yes, price is important, but the purchaser must ensure that they are getting the cover they need and most price comparison sites assume that everyone is the same, which, of course, they are not. They also treat insurance as a commodity, which it is not.

High net-worth individuals (HNWI) are a good example. Such people regularly travel the globe, from one expensive home to another, or even to and from the yacht. Standard policies simply cannot offer the sort of cover these individuals need. They will have expensive houses, high value possessions, jewellery, and works of art. Such items need to have been valued prior to insuring, rather than once a loss has occurred.

They will also have specific insurance needs for their vehicles and yachts. Motor insurance will probably need to cover multiple vehicles, including limousines, saloons, sports and compacts. They can’t all be used at once, so specialist underwriting and appropriate premiums, again with previously agreed values, is essential.

Such cover does not come cheap, but it is almost certain to meet the HNWI’s specific and unique needs. In other words, it will be value for money.

Bespoke insurance like this offers many benefits, not least of which is a more personal administration regime and an enhanced claims process that ensures swift and complete settlement.

Advice is important
Your independent insurance broker can be of assistance in this regard by arranging the most appropriate and cost-effective solution. It is important always to seek professional advice before arranging any insurance and we would be pleased to provide more information.

NOTHING CONTAINED IN THIS ARTICLE SHOULD BE SEEN AS GIVING INDIVIDUAL ADVICE.

Your nearest office:

Chippenham 01249 653461
Saltash 01752 855130
Newquay 01637 875265

For claims information, click here

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