Welcome to our June newsletter! In this edition; Five ways telematics could change insurance by 2025, why so many home-buyers may be paying too much for their home insurance, we ask if cyber insurance should be made compulsory for all UK firms and why the new national living wage increases retails' exposure to claims!
Until next time,
West Craven Insurance
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Home sensors to detect flooding, smartphones used as substitute doctors... But the full potential of telematics technology has yet to be achieved. They’re already being put to work in other fields such as GPS systems, healthcare, security and even kitchen appliances, so how might we see telematics change insurance over the next 10 years?
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Home-buyers are being warned that they could be paying over the odds for home insurance after research revealed that one in seven took out policies with their mortgage lender.
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As technology advances and UK firms become more reliant on computers, servers and networks, so do the risks become greater. For most businesses, unfortunately cyber-attacks are a case of when, not if.
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retailers will need to find up to £3bn more a year to pay staff by 2020, according to the British Retail Consortium.
In an attempt to protect margins, retailers may bypass the reputational issues the changes might create.
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