Gen2 Group

Coronavirus (COVID-19) – Insurance Guidance 

Due to an increasing number of enquiries, from both our business customers and our Private Clients, I thought it prudent to issue our thoughts and guidance from an insurance perspective for our clients. As always, we want to be practical and supportive to our clients and assist in any way we can to allow you (our clients) to focus on your day to day business.

We are very mindful not to add more noise to an ever increasing public dialogue. From an insurance perspective, there are clearly some situations which could develop, but as things stand, the likelihood of significant insurable events for our client base remains fairly low and we must keep that in context. 

Business Interruption –  One of the areas that cause concern is if for whatever reason your premises or place of work is either subject to an outbreak or is caught up in a community outbreak scenario. Fundamentally, this section of policy cover is typically to cover an interruption based on physical damage to your property or surrounding area, however it is not unreasonable to expect insurance cover in this “non-damage” scenario. Our discussions with various insurers has shown that there are different levels of cover that have been given and that not all policies will respond in the same way but to summarise the most common situations –

• Insurers could cover a specific, listed number of known communicable diseases, e.g. Legionella. There has been a move to this over the last decade (prompted in part by the H1N1 swine flu pandemic in 2009) – which essentially leaves policyholders without cover for the current COVID-19 situation.
• Insurers could still use a wide “Communicable Disease” wording which isn’t specific and therefore should trigger cover as this outbreak has this week been classified as a “Notifiable Disease” in the UK. 
• Insurers might not give cover at all for Communicable or Notifiable Disease, or that it is an “optional” coverage that should have been specifically added to your policy.

Notwithstanding which of this scenarios applies to you, there are still further nuances that need to be understood – most notably, whether or not cover applies to a specific outbreak within your specific premise only, or whether it includes an outbreak in your immediate area which impacts on your premise. 

ADVICE – If you believe your business could be subject to a financial loss due to a scenario that revolves around an outbreak in or around your business premises, then please feel free to contact us. We would be happy to work through the scenario with you, and if we agree there is a legitimate insurable interest we can investigate your specific coverage and advise you accordingly.

Travel Insurance – The other key area of impact is clearly travel, and I’m pleased to say that there is a more consistent picture in respect of cover. Our key partner insurers on this class have yet to impose any cover restrictions specifically with regards to this outbreak. That said, it has been mooted that there could be some specific endorsements that might start to be applied to all new policies and any policy that falls due for renewal – we will react accordingly should that be the case.

We are aware of some clients (not ours) who are potentially trying to make claims which are not reasonable – one insurer cited a Directors holiday plan for 6 months’ time, to an currently unaffected part of the world. Clearly in that situation it is unreasonable to expect insurance cover for a pre-meditated cancellation. Likewise, the point of booking becomes quite relevant. If a business (or leisure trip) was booked in good faith, prior to any knowledge of any issue, then cover for cancellation is more than reasonable if this destination is now subject to the FCO (Foreign and Commonwealth Office) advice not to travel. If this same trip was booked now, in the full knowledge of the FCO advice, then clearly that is not reasonable and cover wouldn’t be given. 

ADVICE – If you have travel plans that you believe are affected (please refer to the FCO advice first), then please call us to discuss the specific situation and we will clarify your cover situation. Likewise if you have a business or leisure travel requirement then please discuss that with us BEFORE you book so that you can do so with the full knowledge of how your insurance policy will respond should the situation develop and affect your trip.

RESOURCE – FCO / Gov.uk – Travel Advice – https://www.gov.uk/guidance/travel-advice-novel-coronavirus#foreign–commonwealth-office-fco-travel-advice

Summary

We do not want to cause any over-reaction to this situation, that is not in anyone’s best interest. We always want to provide hands on, practical support for our clients, so on reading this communication should you want to discuss anything with us then please do not hesitate. It’s absolutely what we are here for. 

Regardless of the situation, the likelihood, or the cover that you have or don’t have – the underlying discussion that we continue to promote, and that this situation only highlights is one of BUSINESS RESILIENCE. A fundamental practice when dealing with risk and ensuring your business is resilient against the host of known and unknown threats, is the practice of planning. Yes we place the physical insurance policies which protect you, but we feel our duty and expertise is to help you with this planning and understanding. So, if you don’t feel like you have the right plans in place to deal with any aspect of disruption (insured or not) then I’d urge you to get in touch with me, or your normal point of contact to arrange a specific discussion on Business Resilience planning.

Be diligent, but continue to be successful and let us help wherever we can.

Jon Nottingham Founder & Group CEO

Call us today on 0330 056 3665

Gen2 is excited to announce the partnership with the Tennis Industry Association as their official insurance partner.

The Tennis Industry Association UK (TIA UK) was formed in 1998 as the official not-for-profit trade body for the UK tennis industry with the main objectives of:

• To help grow the UK tennis economy and provide support to TIA UK members
• To provide a platform for networking through targeted events
• To promote innovation
• To work with key partners that aim to increase participation in British Tennis
• To provide industry news to help members be better informed

Members range from major equipment brands to independent companies working in the tennis industry. The membership reflects the wide diversity of activity within the tennis economy, from building tennis courts, supplying rackets, balls, apparel and shoes, operating clubs and venues, delivering on-court activity, providing court and training equipment, selling tennis-related gifts and books, delivering research into tennis, offering project consultancy and technical advice, website design and marketing solutions and promoting new technology and innovation to drive and improve the sport of tennis. 

Steve Matthews, TIA UK Chairman commented;

“We are extremely pleased to partner with the Gen2 Group and look forward to working with them in the future”

Paul Dudley, Chairman Gen2Group added;

“We are confident the relationship with the TIA UK will be an exciting and mutually beneficial one, our strategy of working with clubs and the organisations that manufacture, install or provide services to clubs makes the TIA UK an ideal business partner for Gen2.”

Please get in touch with any questions or if we can add value to you in anyway. 

Contact Head of Sport – Andrew Fielding

Email [email protected] or call 07864 348553

Why not take two minutes to tell us a bit more about yourself and what you do below.

Launch me

After 40 short years in the insurance industry our Offshore & Marine stalwart Mick Wood is sadly retiring. Mick has been a pivotal part of the OMIS team for the past 10 years, providing a first-class service to all our clients. 

Mick celebrated his 70^th birthday and his retirement last week with a great social send-off enjoyed by all his close friends, family, current and former work colleagues. 

Mick is now looking forward to spending afternoons watching Coventry rugby and his ever-eventful travels around the globe. His warm personality and love of food will be sadly missed in the office and across the Gen2 Group, not to mention the café next door!

We caught up with Mick to ask him about his long career, moving with the pace of a changing industry and how he has planned his well-earned retirement.

Listen to our interview with Mick below:

It’s that time of year where we reflect on what has been, and contemplate what next year has in store for us. It’s extra poignant for me, as its a year (almost to the day) since I was handed the baton of leading this fantastic independent insurance specialist into its next chapter.

It feels like so much has changed, but in lots of ways nothing has changed. The same dedicated team of real experts, the same passion for genuine care and personal service, the same business. But we have introduced new insurer relationships giving us wider access to markets, new products and capabilities to bring to you, and some new colleagues adding some extra resource and some new ideas and thinking.

I’m immensely proud of what we do, and how we help you, our clients, who we dedicate ourselves to everyday. We can’t thank you enough for trusting us to support your business, we take that trust very seriously and never for granted. Whatever life throws at your business in 2019, you have the whole OMIS team right behind you supporting you every way we can.

But for now, me and the whole team wish you a very merry Christmas, and a happy, healthy and prosperous new year.

Jon.

Jon Nottingham

Managing Director – Offshore & Marine Insurance Services

 

Christmas Bonus

We now have access to the most exciting new private medical insurance product on the market – Equipsme. For years traditional PMI policies have not evolved, and are too expensive for most businesses with less than 250 employees. Equipsme is challenging those old fashioned, costly products and by clever design and using cutting-edge new services – this is THE must have benefit to give your employees this Christmas (or in the new year). Policies cost as low as £7 per employee per month, and goes up to the Rolls Royce cover at £37 per employee per month – regardless of age, all employees pay the same. Click HERE for an overview and our very quick video which explains everything you need to know.

 

New Website

It’s a been the best part of a year in the making, but I’m delighted to say that you are reading this article in our new OMIS website in all it’s glory. We’ve tried to encapsulate the essence of what we do and make it relevant to the people we do it for. Come and have a look around – www.gen2group.co.uk/naturalresources we hope you like it – feedback welcome.

 

Christmas Opening

We are open!! But don’t worry, I’m not the Christmas scrooge and making everyone work. We just all now have super modern technology meaning whilst the office is closed, we are still very much open and available wherever we are! Every working day over the festive break will have at least 2 of us will be manning the phones and checking email, so please treat it like business as usual.

If you have an out of hours emergency, then please feel free to call me personally on 0754 551 4010.

 

All we want for Christmas ….

For those of you inclined to a spot of social media, 2019 will see OMIS take to the social channels. Nothing invasive, and nothing inappropriate, just hopefully well timed, informative and relevant “snippets” to provoke some thought, and hopefully some dialogue. Please make our Christmas, and follow us on both Twitter and on LinkedIn – it’ll be lonely without you……!!

On 15th December 2017, specialist independent broker, Offshore & Marine Insurance Services (OMIS) secured its long term future by joining forces with Gen2 Group Ltd.

Ray Allen, principal of OMIS, commented “Having started the business in 1981, the time has come for me to hand over the reins. In recent years, despite numerous opportunities to sell the company, I have been searching for an individual or company who aligns completely with the values in which I have instilled in our business.

I am pleased to say, that this search has come to a successful conclusion and as such, Offshore & Marine Insurance Services is now owned by Jon Nottingham and his Gen2 Group Ltd business. Jon is an experienced Insurance practitioner of more than 22 years, and most importantly share the values on which we’ve built the business and has the energy to take the company forward.

Under the new ownership, the business remains independent, it remains at its current location and with the existing team entirely unchanged. This is a great outcome, and I will remain a consultant in the business in order to oversee the transition.

I thank you personally for your business over the years, and can assure you that the team remains committed to continuing to provide the advice, expertise and service to which you are accustomed.”

Jon Nottingham, Founder of Gen2 Group Ltd, commented “I am very proud to be taking on such a great business, and look forward to an exciting new phase in its history. The team have great heritage and genuine specialism in an important industry sector, and I look forward to working with them to be even more relevant and add even more value to you, our valued customers.

I’m a strong believer in personal relationships, and personal service, something which the OMIS business has been built on, so I look forward to helping the team to build on those and find some new ones along the way. “

If you have any questions or concerns, please contact Jon Nottingham on 0754 551 4010 or at [email protected] at any time.