Unsurprisingly, the insurance industry has taken significant hits during the global pandemic and consequently is re-examining the way it delivers insurance cover to all policyholders. Accordingly, premiums are increasing across the board with wider exclusions for claims as well as a notable increase in excesses being applied. It has never been more important for UKWA members to provide evidence of compliance and due diligence, giving their insurers the confidence that appropriate measures are being taken to protect members’ business from claims and/or costly litigation, thereby triggering more advantageous insurance terms and saving costs.
“Our vision is to help members better identify, manage and ultimately eliminate potential issues before they become problems, with an innovative new digital tool backed by the legal, regulatory and risk management expertise of our partners, rradar”. Peter Ward, CEO UKWA
“Risk management is obligatory in a post-pandemic, post-Brexit world, where change is constant – should things go wrong the damage to reputation and the potential costs of litigation could prove disastrous. We are pleased to share UKWA’s vision and help their members ensure such risks are mitigated” Gary Gallen, CEO rradar
UKWA is working with specialist insurance broker and Associate Partner Appleton’s to deliver the best available insurance cover at the lowest possible cost for members engaged with the UKWA Risk Analysis Tool.