New Year, New Insights

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By Georgina Bailey
Marketing Executive

 We hope you’ve had a great Christmas and New Year and are ready for a great 2017.

We have some exciting plans for the year ahead as we begin the re-vamp of our Courier Insurance product, with a wider insurance panel and greater range of cover options available; and work towards launching Cyber Liability Cover to protect our clients businesses from data theft, hacks and security breaches. Next year will see the introduction of the General Data Protection Regulation (GDPR) which will see fines increased from a maximum of £500,000 to €20,000,000 for failures related to data protection, so now is the ideal time to safeguard your data.

We have also been in talks with our current panel of insurance companies and are able to offer more competitive rates for a range of our products such as Taxi InsuranceMotor Trade InsuranceMinibus Insurance and more! Last year we introduced our Drone Insurance product which has really taken off and if you were lucky enough to get one for Christmas why not see if we can cover you to use it professionally? Also, the start of the year is always a good time to review your home contents cover to ensure any additional gifts are covered.

Over at our Derby Office we are now able to write SME insurance such as BusinessRestaurantProperty Owners Insurance and more, so if you are from the Derby area and would like a quote please contact Raj on 01332 348469 or raj.dinas@connect-insurance.co.uk

Regrettably this year we are having to roll out a £10 charge for any MID updates due to the increasing demand on our administration staff as the number of Motor Traders we insure continues to increase every year. Any policy that starts or is renewed after the 1st of February will be subject to the £10 charge and if you are an existing client you will receive formal notification from ourselves regarding this.

Also this year Insurance Premium Tax (IPT) which is dictated by the government is set to rise again by another 2% in June 2017. The tax is currently set at 10%, and this will be the 3rd time in less than 2 years that IPT has risen. In 2015 the Summer Budget saw IPT grow from 6% to 9.5% then in March 2016 it was announced IPT would increase to 10% from October; this year it will be June that see’s IPT set at 12%. This is something sadly we cannot control and as from June all our insurance policies will be upheld to the 12% IPT charge.

We would like to thank all of our clients for their continued support and all of our staff members for their ongoing dedication towards our clients and towards keeping Connect a fantastic place to work. We hope that you all have a great 2017 and we look forward to helping you for another year.

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