Welcome to our January newsletter! In this edition; insurers are handling more and more online breach claims every day, five things to remember when it's time to make a claim, household energy and insurance costs jump by £200 and finally, protecting the contents of your vehicle from theft.  

Until next time,

West Craven Insurance

Insurance providers are currently facing an influx of claims for online breaches, according to figures from CFC Underwriting. The firm claims that it handled more than 400 claims regarding cyber breach in 2016. That’s more than one claim every day!

The main types of cyber-attack being reported include privacy breaches, the theft of cash and stolen data. Claims for cyber breaches were up by 78% on 2015, with 90% of the claims coming from businesses with less than &50m in revenue. CFC also reported that the majority of their claims came from UK businesses due to their poor level of cyber security when compared to the UK.

Whilst traditional attacks like ransomware and malware were all part of the cause, privacy breaches came out on top as the most common cause for a claim. It is believed that this style of attack is on the rise thanks to high profile attacks in the news.

Privacy Breach	31%
Financial Loss	22%
Ransomware	16%
Malware/Viruses	7%
Website Attacks	5%
Unauthorised Access	5%
Business Interruptions	4%
Other	10%

Source: CFC Underwriting

Graeme Newman head of innovation at the underwriter has said that cyber-insurance is a vital addition to all businesses.

"It's now become more of an incident response service that pays all the costs associated with that," he said. "You ring up the insurer and they get people in to help."

Many insurance firms now have security, data forensics, incident response and PR firms on call to help respond when a claim is filed, he said.
More often than not however, there is very little that can be done to recover finances and repair damage done by the attack. Whilst policies do tend to be pricey, they’re well worth the cost should your business be subjected to an attack.

We all take out insurance policies while crossing our fingers that we never actually have to make a claim. Unfortunately, sometimes the worst does happen and things may seem pretty hectic at the time, which is why it’s important to establish a clear plan of action so that even if your head isn’t completely clear after an incident, you know exactly what steps to take to ensure your claim is successful. Here are our 5 things to remember if you need to make a claim.

1) Remember the process outlined by your insurer
It’s best to check if your insurer requires you to follow any processes after an incident. This is vital in the case of any emergency repairs as not getting in touch with your insurer first could make your claim invalid. Some insurers may even require you to use specific companies or tradesmen when in need of any repairs.

2) Try and gather as much evidence as possible
One of the best ways to ensure your claim is successful is by providing as much information and evidence as possible. This is especially true in cases such as road accidents, theft, fire or flood damage. Taking photos of the condition of your car before an incident can go a long way in helping your claim, but collecting evidence such as photos of the scene can also help greatly. Whether its photos of road signs or the details of an eyewitness the more information you have the better.

3) Don’t waste any time
If you need to make a claim, do it quickly, the sooner the better. Making a claim on your policy can be a long process, so it’s best to start the ball rolling as soon as possible and try and get everything resolved. It’s also important to remember that some policies will include deadlines, some as short as 24 hours, so don’t waste any time and get in touch with your insurer.

4) Be 100% honest at all times
When it comes to making a claim, honesty is the best policy. It can be very easy in traumatic situations to tell an exaggerated version of the truth in order to help your claim. However, if all the pieces don’t quite fit once the insurer has all the information from all parties, it could not only delay your claim, but also hurt you in the long run if it’s discovered that you were not 100% honest.

5) Stay on top of it
Once your claim has been made, it’s important to remember to not put your feet up and wait for everything to be resolved. When you first make the claim, it’s worth asking the insurer about average timescales for your type of claim, this way you’re not constantly waiting by the phone for the first few days, but you’ll also know exactly when to begin chasing things up. If you do need to chase, try and keep a record of phone calls, emails and contacts, making any follow up communications easier.

Preparation before a potential incident can go a long way in helping your claim, but keeping calm and following the steps above in a timely manner are just as important and can save you a lot of stress in the long run.

According to a recent report, households’' annual energy, home and motor insurance costs have jumped by nearly &200 over the last year.

The combined cost of dual fuel energy, home insurance and car insurance bills came to &2,216 on average in 2016, around &196 more than in 2015, at just under &2,020

Motor insurance saw the highest price hike, with average premiums reaching &691 in 2016 compared to &595 in 2015 - a rise of &96. The rise can be attributed, in part, to the three hikes in insurance premium tax announced over the past two years.

Energy costs have jumped by just over &94, with the average annual bill now coming in at &1,383.

Home and contents insurance now stands at around &140, up by about &5 compared to 2015.

The huge rise in bills has undone what was an extremely positive year for consumers in 2015. Average household bills tumbled by &186 in 2015 compared to 2016 but have now risen back above their 2014 peak.

Could you benefit from switching insurer? Speak to us today and let us help you find a deal to suit you!

Whether it’s the car itself or the valuables within it, your car is as much a target for thieves as it ever was. According to the Office for National Statistics, there were almost 358,000 reported instances of thefts from or of a motor vehicle in 2014, with at least 30,000 going uninvestigated.

Most vehicle crime is preventable. It can take as little as 10 seconds for a thief to steal something from your car.

If you use a van for work, one of your biggest concerns is likely to be theft, or of someone breaking in to steal goods or equipment. The humble van is the lifeblood of many small businesses, providing essential transport for workers and tools, products and equipment. In fact, it is this rich range of uses that make vans such a common target for thieves.

“But my vehicle has an alarm and an immobiliser,” you say. “That’s me covered.” Well, no. It’s true that modern security systems are great deterrents, but there’s much more you can do to keep your car safer than just pressing the button on your car’s remote and walking away.

So how do you go about protecting your vehicle, to keep the contents safe and your insurance premiums down? Here are our top tips:

1. Upgrade the security of your van with additional measures
• Deadlocks: the simplest extra security measure is to add extra locks. Deadlocks are a popular choice, with a solid steel bolt that secures the door or hatch to a reinforced socket in the frame of the vehicle. These need to be operated manually, using a key, but are among the safest solutions you can buy.
• Slamlocks: an alternative to the deadlock is the slamlock, which engages automatically when the door or hatch is closed, much like a Yale lock on a front door. These are not as strong, but have the advantage that you do not need to remember to lock them.
• Window security: having secured your doors, the next thing to consider is your windows. These can be either blanked out or covered with a grille to prevent thieves from gaining access by smashing the glass. Bespoke parts are available for most popular van makes.
• Van alarms: these can also be fitted to protect your vehicle, deter thieves and limit the length of time they have to steal from your van before they are disturbed.
• Trackers: these can help to locate your vehicle following a theft, but chances are your tools and other contents will be long gone before the vehicle is found.

2. Park your van wisely
Try to park in a well-lit busy area when possible. Thieves will be deterred if they feel there is a higher chance of them being seen or exposed.

3. Remove temptation entirely and empty your van at night
Of course it may take a little extra time at the end of the day to remove your tools from your van but it’s not half as much hassle as trying to replace them all should they get stolen.