A new commercial insurance product has been introduced by Hiscox Insurance designed especially for top quality venue owners.
The new Hiscox policy will be sold exclusively through brokers and will target places such as art galleries, museums, theatres and so on. Protection will include buildings and contents insurance, public liability, employer liability and also risks from the internet and email. Extras can also be added as needed, for situations such as doctors surgeries where malpractice cover may be required.
A spokesman from Hiscox was pleased to be able to offer this new product and felt that the specialised nature of the policy would lead to it being adopted by the places that need it, the value of the cover being clear to see.
Two Norwich Union with profit funds are set to pay their policyholders an average of GBP1,000 each should they accept the offer.
Around a million customers hold these particular Norwich Union funds, with 700,000 of them set to receive between GBP400 and GBP1,000 and a further 220,000 looking at a minimum of GBP1,000 up to GBP3,500. The policies in question are the CGNU Life and CULAC with profit fund. The payout will be instead of any future claim on the surplus value of the funds so the options should the considered carefully.
The general opinion is that the offer is a very fair one and is likely to be accepted by most customers, especially in the current economic climate. Payouts are expected to begin in the middle of 2009 since there are a number of administrative procedures to carry out prior to Norwich Union allocating the funds.
A study carried out by Zurich Insurance has found that the people of Britain are keen volunteers and are set to be even more so in the coming year.
The study showed how around 35 percent of British adults are actively involved in voluntary projects. Overall these people spend over 52 million hours each week providing their services as unpaid volunteers. The Zurich Insurance survey also showed that, in the next 12 months the number of volunteers will rise to over 50 percent.
A Zurich Insurance commentator was delighted to see such strength of support for worthy causes across the country but added that this situation should be managed correctly by the organisers. Key factors to consider are effective training for volunteers and ensuring adequate insurance cover is in place, both for the volunteer and public liability.
Find out more about Zurich Insurance at Moneygossip.co.uk.
