Insurance
Insurance is a critical consideration for the UK jewellery trade, covering everything from stock and premises protection to customer policies for high-value purchases. For retailers, manufacturers, and wholesalers, navigating insurance options and understanding risk management is essential to safeguard business operations and maintain consumer trust.
Jewellery Focus delivers comprehensive coverage on insurance matters affecting the industry, including regulatory updates, market trends in jewellery-specific policies, and insights from providers serving the trade. We also report on best practices and innovations helping businesses mitigate risk in a rapidly evolving market.
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Jan- 2021 -15 JanuaryCurrent Affairs
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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Sep- 2020 -14 SeptemberCoronavirus
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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14 SeptemberCoronavirus
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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Aug- 2020 -27 AugustCoronavirus
Majority of retail office workers feel unsafe returning to work after Covid-19
Only 28% of office workers in the retail, catering and leisure sector feel safe returning to work after the pandemic, despite new health and safety measures that have been put in place. This is according to new research from insurance provider Protectivity, which asked office workers around the UK how…
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17 AugustRetailers
F.Hinds to open Luton store
F.Hinds has announced the opening of its 115th store in Luton, which is set to open its doors on 22 August. According to the family-run jewellers, the new site, located in The Mall shopping centre, is set to create seven new jobs through its opening. The store will feature “sleek,…
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Jul- 2020 -27 JulyCurrent Affairs
Price of gold reaches ‘record’ high
The price of gold reached a “record high” of $1,943 (£1,513) per ounce this morning (27 July), amid increasing tensions in the US and China trade row. The price rise of 2.2% saw gold overtake its previous record that was recorded in the wake of Black Monday in September 2011.…
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9 JulyRetailers
Bira ‘disappointed’ mini-budget does ‘not help indie retailers’
The British Independent Retailers Association (Bira) has expressed its “disappointment” that Chancellor Rishi Sunak’s mini-budget does not “directly help retail business owners”. Sunak announced a raft of further measures to support the recovery of the economy following the coronavirus lockdown, in Parliament yesterday (8 July). Features of the budget included…
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Jun- 2020 -30 JuneCurrent Affairs
Government confirms changes to ‘flexible’ furlough scheme
The UK government has confirmed the latest set of changes to its “flexible” furlough scheme – dubbed CJRS V2 – ahead of its launch of the 1 July. HM Revenue and Customs has set out the new guidance as the current version of the Coronavirus Job retention Scheme (CJRS) ends…
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May- 2020 -5 MayCoronavirus
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
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Apr- 2020 -24 AprilBusiness Bites
Retail landlords reined in, France gets touch on tax havens, and insurers face biggest ever payouts
The government has banned landlords from using winding-up orders against their retail tenants, after aggressive rent collection tactics which threaten the future of retail businesses came to light. Tens of thousands of businesses in both retail and hospitality have found themselves unable to keep up with their rent during the…
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