Greetings!
Welcome back, April already! Quarter one has ended and law firms seem to be going to the wall with alarming regularity. It's not just because their insurance premiums got to a ridiculous level, yet it must be a contributory factor to the cash flow problems.
I've been advising solicitors how to keep these costs down for years and those that have four or more partners are lucky enough to have a few options that the smaller firms cannot access. Yet we love helping small firms too.
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Photograph: Wikipedia
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A big thanks to all of those that noticed we turned 5 in March. That is history but we are not. It is all thanks to you for the introductions so please keep them coming. We do not turn anyone away, sometimes we cannot help, yet we know a woman or man who can.
There's a growing debate about Directors protecting themselves from over zealous regulators, fuelled by this article. Directors are finding the cover they thought protected them actually doesn't, because of small print. And it's not just about Directors getting angry, it's their legal advisers who are not getting paid.
It is safe to say some are a bit late in noticing this issue, we highlighted it back in 2010 when we wrote about the withdrawal of defence for mad Bernie Madoff.
The Lawyer are behind the curve on this, yet it has become topical because lawyers fees are not being paid. Here's our latest blog on how Lawyers can avoid doing work for nothing and Directors can protect themselves properly.
Some of the claims we have been dealing with lately might help you or your contacts avoid the pertinent issues of the day. One policyholder is getting the blame because their client failed to pay ANY vat. Another is trying to get their landlord to pay for a door damaged in a theft. A marketing expert is minus an iPad which had its "iWipe" disabled before it could be activated. Another have had their identity stolen and �16,000 removed from an account with their "unsympathetic" bank.
And Intellectual Property issues were raised again, with clients being accused on infringing in America. We've also been helping clients, who rely on their reputation, wanting to manage the risks to their website and remove the uncertainty of who pays for what when their hosting company lets them down. This client is UK based with a US subsidiary yet we are also able to help when parent companies are in the US.
This is one of the reasons our clients trust us with these issues, because there is so much at stake:
"Jason provided a detailed consultation, reassuring me we were getting the right cover. When we had an accident and needed to claim, he managed the process expertly and efficiently. Highly recommended."
John Bingham, Owner, Spider Design Ltd
Why do people even think about talking to us? They are:
- Not sure if they are exposed to supplier errors?
- Covered already, yet not sure about their insurer's Terms & Conditions?
- Had "near misses" and don't want to risk their reputation?
Keep in mind our 1 hour review, which is complimentary for your contacts, especially those who are unsure that their insurance will do what they want it to, or have been annoyed when the terms and conditions were not explained to them. Scroll to the bottom - don't miss out!
Or give Jason a call if there is a specific risk you would like to be reassured about.
Take care,
Jason Cobine
Not Just Insurance - Reassurance!
Cobine Carmelson
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