Risks to your business such as fire and theft are something we are all familiar with and automatically spring to mind when we think about insurance. But what about emerging risks?

Our world is fast moving and there will be trends and developments that will undoubtedly apply to your business. Here are just some of the areas to consider: -

GlobalisationPolitical change
AppsSynthetic biology
Data breachesDrones
Supply chainOnline reputation
General Data Protection Regulation (effective from May this year)  

And that’s even without mentioning climate change - have you considered how this will affect your business? Did you know there are now 60 different types of plug in electric cars? With an estimated 132,000 now in use and a further 47,000 more planned to be sold during 2018 they are certainly here to stay. Many companies now have a Carbon Footprint policy - does your company have one or are you considering one? You might like to check out some facts and figures by visiting www.nextgreencar.com

You have probably already insured your computer systems for fire and theft, but have you considered the ramifications of how these systems can leave you exposed to cyber-attacks and data breaches? This is one of the fastest growing areas of business insurance.

These are of course questions to act as food for thought. You may be riding the crest of the latest wave or you may be catching a break but have you considered the emerging risks that could apply to your business and if so have these risks been fully assessed?

If you would like more information on how we might be able to help you with the insurance risks that come from any aspect of your business please get in touch we me by either following the link below or click on my name above.

Below you will find links to some helpful information in your consideration of the emerging risks you may currently face: -

https://ico.org.uk/for-organisations/guide-to-pecr/communications-networks-and-services/security-breaches/

https://www.caa.co.uk/Consumers/Unmanned-aircraft-and-drones/

https://insider.zurich.co.uk/app/uploads/2013/04/SCIFactsheetFeb2012.pdf

https://www.insurancebusinessmag.com/uk/news/sme/online-reputation-an-emerging-risk-for-sme-clients-zurich-warns-brokers-87102.aspx

 For GDPR information from the ICO

https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/

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