May 17, 2012

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Hiscox Comment on Cyber Crime

May 6, 2011 By Joe Leave a Comment

Following the recent online data hack where millions of names and email addresses were stolen, Matthew Norris, e-risk and privacy expert at specialist insurer Hiscox, comments:

“The early signs are that Sony has suffered a breach of security which necessitates a redesign of their security, an unusual response and major undertaking likely to indicate a significant security vulnerability.

“It seems no fraud monitoring services are currently being offered: this may be a sign that Sony is not yet confident what accounts the hacker gained access to, and so is not willing to offer such a service to 70 million + users until they know who has been affected, when such a service could cost over $100 million.

“It all points to a sophisticated hack, rather than a college prank: sophisticated hacks are an accepted part of the threat landscape now, and often involve criminal networks to sell and use the data stolen.

“And the cost?  Too early to tell, but the week’s delay, the outages, and lack of certainty in the communications will undoubtedly unnerve customers.”

Hiscox are leading providers of business insurance for SMEs including professional indemnity insurance and employers liability insurance cover.

Filed Under: Uncategorized

Helping SMEs Navigate the Business Insurance Minefield

March 23, 2011 By Joe

Whilst making sure the right insurance is in place is important for SMEs, as a specialist small business insurer, Hiscox understands that business owners want to focus on what they do best – running their business.

So they have created a Business Insurance Decision Tree in the form of an infographic to help steer small business owners through the different types of insurance available to them. The Decision Tree looks at variables such as whether you work from home or in an office, how many employees you have and what type of property you own, suggesting applicable cover which best suits an SME’s needs.

So whether it is office contents insurance for damage to property, employers’ liability for those with employees, professional indemnity insurance when offering advice, or public liability insurance, the Business Insurance Decision Tree can help clarify which insurance is suitable.

Hiscox SME Underwriting Manager, Deepak Soni, comments: “SMEs are experts in their area, but we don’t expect them to be experts in insurance, that’s what we are here for. No two businesses are the same, so the Business Insurance Decision Tree is a useful tool to help SMEs understand the risks they face and get the right cover in place.”

The Decision Tree is available on the Hiscox website at http://www.hiscox.co.uk/business-insurance/tips-and-information/which-business-insurance-is-right/

Hiscox insures more than 100,000 small businesses in the UK, offering a range of business products, visit now for further information.

Filed Under: Business Insurance Tagged With: , , ,

Selecting the Correct Business Insurance Cover

January 18, 2011 By Joe Leave a Comment

When it comes to running a  business, one of the first things to act on is ensuring you are insured adequately for every instance of your day-to-day business activities. Due to the vast range of business sectors, there are a variety insurance policies available for every field.

Specific insurance coverage for your line of work can help you find the protection you need, without paying for any unnecessary excess. Many of the most crucial policies will protect the integrity and finances of your business, in the case of any legal action that may be taken against you. Legal fees can disable even the most successful of businesses, which is why having the right type of insurance in place can help soften the impact should any claim have to be made.

When it comes to those who specialise in offering advice for example, particularly finance related, Professional Indemnity Insurance is essential. This coverage protects your business from any legal action that might arise from to disgruntled clients, who might claim professional negligence. A client may claim there was a breach in confidentiality, or that they were given poor investing advice, or feel they do not owe payment for your services. These are all scenarios where your insurance policy can help protect your business from potential legal costs. Depending on the nature of your business, you may find that a combination of policies offer you the coverage you need. Consider that a singular policy may not offer all you need, and that you may need supplementary coverage such as employers liability insurance and public liability insurance.

Filed Under: Uncategorized

Hiscox: Safeguard your home during the festive season

December 16, 2010 By Joe Leave a Comment

Practical security measures can go a long way in deterring thieves when away on holidays.

With new research revealing almost one in 10* respondents have been burgled at Christmas, specialist home insurer Hiscox is urging homeowners to implement some basic security measures to help keep belongings safe.

Official records show that for the last two years burglaries have increased around the festive period** making home security all the more important. The research found that the most popular security measures carried out by homeowners were window locks (45%) and burglar alarms (28%).

Austyn Tusler, home insurance expert at Hiscox, comments: “Having some basic measures in place creates a security system that can go a long way in deterring would-be thieves. It is unfortunate that you are at greater risk during holidays when your home is more likely to be unattended, but the good news is that some additional steps will go a long way to help protect your home. It is reassuring to see from our research that only 6% of those surveyed said they would not implement any additional security measures when going away.”

When going on holidays, the top precautions taken by homeowners are to speak to their neighbours to tell them they are away (31%), or use timers to turn their lights on at certain times (30%).

Given that homes without security measures in place are 10 times more likely to be burgled than those with even simple security measures installed***, it is beneficial to safeguard the home. To help people secure their home properly, Hiscox recommends implementing some security measures:

Safeguarding the home:

- Physical barriers around the outside of the grounds of your property or garden define the boundaries of your home and provide a deterrent to criminals. These barriers may occur naturally, with trees or bushes, and can be supplemented with ditches, fences, gates, walls or railings
- Gravel drives and paths are known to deter thieves as the arrival of pedestrians and vehicles create noise
- Lighting is effective with low energy/high efficiency lighting, which activates automatically between dusk and dawn, and passive infrared sensing security lights, which are activated by movement, are among the best options
- Good locks are essential. Keypad locks are a good way of securing back doors while allowing easy access to the garden – just remember to change the combination every so often
- Any ground floor or easily accessible upper floor windows or skylights, including those next to drainpipes, fire exits or flat roofs, should be fitted with key operated window locks
- It may sound obvious but if you have locks and bolts on your home it is important to get into the habit of using them
- Install an approved alarm system, you can tailor systems to meet the specifics of your home security needs

Additional steps to take when going away:

- It is important that your home appears to be occupied when you are on holidays. Timer-operated lights, window blinds or curtains are a good way of giving the impression that your home is occupied when you’re not there
- Cancel milk and papers or any other daily deliveries
- If you’re away for a longer period, it’s a good idea to arrange for a family member or friend to housesit or visit your home regularly to open and close curtains and pick up any post. At the least let your neighbours and friends know your holiday plans and when you will be away
- Professional house sitting services look after your home while you are away and can be particularly useful for pet or livestock owners or those with isolated properties
- You should never leave keys under doormats, dustbins or in flowerpots – burglars know exactly where to look. It’s best to agree among your family on a secure location to keep spare keys in the event of an emergency

Austyn continues “Keeping would-be thieves at bay is a combination of a fixed security system supplemented by some practical measures. Telling your family and friends, home based staff or neighbours you are away is a simple but effective precaution to alert them to watch out for any strange activities. Turning on the timers on your lighting systems and making sure your windows are locked can be enough to deter potential burglars.”

For further insurance advice, visit Hiscox, specialists in a variety of insurance packages, including both Home & Personal and Business, such as Professional Indemnity Insurance.

* This survey has been conducted using an online interview administered to members of the YouGov Plc ‘Platinum panel’. These individuals are screened from 300,000+ respondents on the YouGov online panel who have £100,000 or more in investable assets.
** National statistics show that statistics for break-ins are at their highest in the last and first quarter of the year. Source Home Office British Crime Survey: Police recorded crime quarterly data to December 2009,

*** Source: Home Office 2010.

Filed Under: Business Insurance, Home Insurance Tagged With: , ,

Don’t let a water leak dampen your spirits during the thaw urges Hiscox

December 14, 2010 By Joe

Hiscox urges homeowners to be vigilant to leaks when snow and ice begin to thaw –

When the weather starts to warm up, home and contents insurer Hiscox is encouraging homeowners to be on the lookout for leaks caused by burst pipes. The sub zero temperatures can result in pipes freezing and homeowners could be unaware their pipes have burst until the thaw when water begins to leak into their property.

Austyn Tusler, home insurance expert at Hiscox, comments: “The early onset of snow and ice may have caught people under prepared with their winter proofing measures. However taking some simple steps and generally being vigilant for burst pipes can prevent major damage. There is still a long winter ahead, however as the cold snap ends and there are slightly higher temperatures, frozen pipes will begin to thaw.

“Unchecked, a leak can quickly turn into large amounts of water gushing into attics or lofts, damaging the structure, electrical wiring and belongings. Catching leaks early can prevent water damage and save homeowners time and money as well as the emotional stress of experiencing loss or damage to personal belongings.”

To spot a burst pipe:
- Look for damp patches on ceilings and walls
- Inspect the loft and any isolated areas that may not be as adequately insulated to check for leaks
- If you turn on the tap and no water comes out – don’t take any chances – call a plumber immediately and turn off the water supply
- Check exposed pipes for signs of damage – a leak will not occur until the water has thawed
- If you are going away for an extended period leaving your property unattended, make sure you have someone who can check on your home regularly

If you discover a burst or damaged pipe:
- Turn off the water supply at the main water tap (or valve), and turn off the stopcock in your cold water tank if you have one
- If water has leaked near electrics or electrical appliances, switch off the mains immediately and don’t touch any areas that are damp
- Protect everything around any pipe that appears to be frozen to avoid damage
- Contact your insurer to let them know about the damage within the time specified in your insurance policy
- Ring a tradesperson – again check with your insurer on whether they have a panel of approved tradespeople

For further insurance advice, visit Hiscox, specialists in a variety of insurance packages, including both Home & Personal and Business, such as Professional Indemnity Insurance.

Filed Under: Home Insurance Tagged With: , ,