For the 14th year, underwriters from our London and UK Regional offices will be attending BIBA 2018. Our stand, C30 will run together with Tokio Marine Kiln for the second year. We have been finding out from our underwriters and brokers what it is that they want to talk about at the conference, and what is on their mind when it comes to the insurance market.
The force of fake news
Fake news is an ever-growing phenomenon, and with the recent hire of Ros Breese, our new Underwriting Manager, Media, Film & TV – Professional Risks joining the team in London we have been having various conversations about what this means for insurance. The unprecedented risks around social media and the pace at which fake news can spread are not going to slow down in the foreseeable future. Firms, particularly those in the Media space need to ensure they have responsive cover in place to manage the aftermath of a breach, including reputational damage costs. We will be running a real v fake news competition at BIBA this year, so make sure you visit us on stand C30 for your chance to take part!
Professional Indemnity insurance requirements for Business Consultants
Our Regional underwriters will be attending from our Bristol and Manchester offices, talking about the regional market trends. Adam Bradford, Underwriting Manager - Professional Risks South, has been talking to us about the changes in requirements of the end clients of some Business and Management Consultants. Certain small and medium sized (SMEs) firms are now looking to make sure that Professional Indemnity insurance (PI) is in place with consultants that they work with. This development has seen more interest for PI insurance cover in the consultancy business space.
General Data Protection Regulation
General Data Protection Regulation (GDPR) is launching just after the conference, on the 25 May 2018. There is no doubt that the regulation will bring with it significant changes to the way in which personal data is used across the market. We are working closely with our Compliance team to ensure that the right policies and procedures are being put into place to meet all new data regulation requirements.
We are looking forward to hearing what issues are important to you and updating our visitors with Tokio Marine HCC – Professional Risks news.
See you at #BIBA2018!
This article does not represent personal advice or any recommendation. Please seek advice from your Insurance Broker who will be happy to look at your individual business needs and circumstances.
Tokio Marine HCC is a trading name of HCC International Insurance Company plc, which is a member of the Tokio Marine HCC Group of Companies. HCC International Insurance Company plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority. Registered in England and Wales No. 01575839 with registered office at 1 Aldgate, London EC3N 1RE.