Insurance

Retail industry responds to ‘underwhelming’ Spring Statement

Both Bira and CBI have expressed disappointment in the chancellor’s Spring Statement, with Bira having declared it is “underwhelmed with the offerings for independent businesses”. In his speech yesterday, Rishi Sunak outlined a series of measures to help combat the rising cost of living in his latest spring statement, including…

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Spring Statement: Chancellor raises NI threshold to £12,570

The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring statement, including increasing the national insurance threshold by £3,000. Speaking in parliament today (23 March), Rishi Sunak began his speech by warning it is yet unclear what the impact of…

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F.Hinds launches new Chapelle store in West Midlands Designer Outlet

F.Hinds has announced the opening of its new Chapelle store in the new West Midlands Designer Outlet in Cannock, bringing Chapelle’s portfolio up to 13 stores. The store is fitted with “modern” furnishings and reportedly offers savings of at least 30% off RRP. Chapelle stocks a range of diamonds, jewellery…

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Retail sales up 1.9% in January 2022

Retail sales volumes rose by 1.9% in January 2022 following a fall of 4.0% in December 2021, according to the latest figures from the Office for National Statistics. It also revealed sales volumes were 3.6% above their pre-coronavirus (Covid-19) February 2020 levels. Non-food stores sales rose by 3.4% as home…

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Alrosa commits £155m to ESG initiatives in 2020

Alrosa, the global diamond company, has revealed its social and environmental investments totalled $216m (£155m) in 2020. The investment represents approximately 8% of the group’s total revenue for the year, and consisted mainly of social commitments. Some $141m (£101m) was contributed towards pension funds under non-state insurance programmes for employees,…

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TH March launches ‘vision, mission and values’ initiatives

TH March, a firm of specialist jewellery insurance brokers, has released its ‘vision, mission and values’ initiatives ahead of its 135th anniversary year. A part of the group’s wider ten-year strategy, the document comes amid TH March’s “public promise” to uphold the highest standards for its customers. The ‘vision, mission…

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David Berkley QC: Interruption and insurance in the age of Covid

As we emerge from one of the most tumultuous periods in living memory, it perhaps comes as little surprise that insurance has been thrust into the spotlight. The unprecedented impact of the pandemic has brought a renewed focus to the issue of business security and, more specifically, business interruption coverage. …

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Supreme Court sides with small firms in business interruption case

The Supreme Court has delivered its judgment in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, with the court’s ruling in the favour of small firms potentially forcing insurers to pay out £1.2bn in CBI claims. Following the judgement, thousands of policyholders will now have their claims for…

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700,000 jobs at risk as end of furlough scheme draws near

Over 700,000 employees are at risk of being made redundant in the second half of 2020, research from Institute for Employment Studies (IES) has revealed. IES estimates that some 650 thousand redundancies are expected in the second half of 2020, with 445 thousand redundancies in the three months between July…

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Insolvent companies cost taxpayers £250m 

Insolvent companies that were unable to pay their debts in the first six months of 2020 have cost British taxpayers almost £250m, according to Altus Group.  The software group found that the amount paid to former members of staff was up by £133.79m in the period against the prior year,…

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