NEWS & INSIGHTS
Not Breaking The Law: Managing Cyber Risk In The Legal Profession
Over the last few decades, our personal and professional lives have been transformed by the rapid development of digital technology. Its adoption has been so universal, in fact, that many of us seem to spend most of our day talking, typing, watching or listening to a number of different devices. However, convenience can lead to complacency and, in some cases, tremendous risk. The UK Information Commissioner's Office (ICO) has recently reported that the number of data breaches in the three months to June this year was six per cent up on the same period last year. If we look a
Drive My Car? Beatles, Insurance And A Government Auto Motion
The first step towards resolving a problem, it is said, is actually knowing that a problem exists. In the run-up to July's General Election, politicians of all persuasions had their antennae switched on to identify issues which might affect their performance at the polls. One item of common concern which they would have found hard to avoid was the clamour about the affordability of motor insurance. It was considered so serious by Labour, in fact, that it featured in the party's manifesto. Given the desire to honour as many of those pledges as possible, we should not therefore be surprised
Wheels, Reels And Risk: The Continuing Hazard Of Mobile ‘Phones
The speedy march of technology in recent decades has granted us an incredible number of conveniences previously thought the preserve of science fiction. One of the most transformative has been the development of the mobile phone. In the 1980s, people were amazed at the ability to make calls while on the go, albeit from a device which was as heavy and portable as a large house brick. Over the intervening years, the capabilities of such devices have grown as they have shrunk in size to something which fits neatly into the palms of our hands. No longer simply able to
Broadway Eyes Expansion After Securing Further Ranking Success
Broadway Insurance Partners has revealed that it is focused on growth after once again being named among the UK insurance industry's leading risk management practitioners. It is one of a dozen to feature on the latest annual list of Five-Star Brokers published by Insurance Business magazine. Broadway's founder and Chief Executive, Daniel Lloyd-John, is also the only broker of a firm based outside London to be included in the latest ranking of advisors to high net worth clients compiled by Spear's magazine. The twin recognition is a repeat of its success in 2023 and underlines the rapid progress made since
Raising The Bar: Broadway And The Value Of Collective Benefits
"Success", so the saying goes, "has many fathers". Although ideas may originate with one person, it takes a group effort and mix of a range of skills and experience to be exploited in full. It is, I would suggest, quite easy to pay lip service to the notion of teamwork. That is particularly true when individuals are so wedded to their concept of how organisations should operate that they simply can't bring themselves to allow it to be diluted by others' input. When Broadway launched four years ago, it was born of my belief that there was a better way
Broadway Regional Padel Tournament A Win For Prince’s Trust
A regional padel tournament organised by Broadway Insurance Partners has raised £30,000 for The Prince's Trust. The inaugural event was held at The Padel Club in Wilmslow and saw 16 teams vying to become North West champions. Broadway Chief Executive, Daniel Lloyd-John said that he was "delighted' to have helped the tournament take place. "It was a superb day of competition involving players from right across the region and all for an incredible cause. "Even though we had winners on the day, the focus was very much securing an even greater victory by helping The Prince's Trust further its wonderful
Broadway’s Brace Of Health Insurance Nominations
Broadway Insurance Brokers's fast-growing healthcare division has been shortlisted for a second prestigious award in the space of three months. The firm is one of 12 finalists selected in the Small Intermediary of the Year category of COVER magazine's Excellence Awards. It follows the announcement of Broadway's inclusion as one of seven brokers which are in the running for the Best Small Health Insurance Advice prize in Health & Protection's advisor awards. The recognition highlights the impact made by Broadway in just over a year since Emma Wood was appointed as its Director of Healthcare. Ms Wood has described how
Open Minds, Open Ears: The FCA, Common Sense And Consumer Duty
Exactly one year ago, I wrote my first article on this 'blog. In it, I explained why I had joined this firm. I'm pleased to say that the decision has been completely justified by my experience of the intervening 12 months at a brokerage rightly regarded as one of the most dynamic and capable around. My arrival at Broadway, though, coincided with one of the significant shake-ups in the insurance industry's obligations to its customers in recent decades. New rules in relation to Consumer Duty took effect a year after they were introduced by the Financial Conduct Authority (FCA). They
Evolving Business Priorities: Putting A Premium On Risk Advice
Running a business can at times feel like trying to complete an obstacle course. There is simply no shortage of internal and external challenges with which company directors have to contend. Like business itself, the nature of risk develops over the years. Not too long ago, most threats seemed to be financial, operational, reputational or regulatory. Our increasingly connected lives, however, have added fresh dangers. The likes of cyber attacks and climate change highlighted in a report published by one of the biggest insurers, Zurich, earlier this year can be added to the importance of meeting the healthcare needs of
Broadway Shortlisted For Prestigious Health Insurance Award
When Broadway Insurance Brokers launched back in 2020, we did so with the determination to make a difference. We recognised that we could improve the service provided to private clients and to businesses, in terms of supporting how they manage the variety of risks which they face. In assembling a vastly experienced team of insurance professionals, we knew that there was a place for a boutique firm like ours to gain a better and more detailed understanding of what clients need in order to have more productive conversations with underwriters about making more tailored policies available. That was also the
Global Protection: Covering The Health Of A More Mobile Population
We live in a mobile age. I don't just say that in relation to the power of and our reliance on the devices in our pockets for work and pleasure. More than ever before, it's possible for people to move almost where they want to pursue their careers and experience different cultures. That is, of course, not the case for everyone or everywhere. Two years after Brexit, for instance, the UK's workforce had shrunk by one per cent as many European staff returned to their countries of origin when employment rules were reformed. Even allowing for such major events, the
20 Questions with Claire Murphy
We get to know Claire Murphy – Client Executive at Broadway Insurance Brokers We recently welcomed Claire to Broadway’s Corporate Risk team as Client Executive. Claire arrives at Broadway after several years at Bridge Insurance Brokers, and with this, brings a unique insight for Corporate Risk and Insurance. We sit down with Claire for 20 quick-fire questions… Number of years in the industry and what led you to working in the insurance industry? 24 years – I moved ‘up north’ and I fell into the industry when I took up a temp role at an insurance Mutual. What is the
A Taxing Concern: IPT And The Risks For Risk Management
Benjamin Franklin was many things: a writer, inventor, scientist and one of the so-called 'Founding Fathers' of the United States. To some individuals, however, he is best known as the man who coined the phrase that "in this world nothing can be said to be certain, except death and taxes". More than two centuries after it was first used, it is a truism which still has the capacity to frustrate. Just as we haven't found a formula for immortality, taxation continues to have considerable impact and not just in terms of claiming a share of company profits as well as
Two-Way Street: Discovery, Disclosure And Defence Against Cyber Attacks
Learning about someone else's misfortune produces a rather common but somewhat strange response. No matter what degree of connection or lack of it we may have to the individual concerned, any compassion or sympathy is tempered with a sense of relief that we have not fallen victim to whatever bad luck, loss or criminality has befallen them. There is something else too: many people express almost a confidence that a similar fate won't impact them. When it comes to risks and risk management, such a sentiment always seems like tempting providence. No matter the circumstances, we simply cannot predict who
Light In The Tunnel: The ‘Dolittle’ Dilemma
It is almost becoming impossible to avoid the sense that the lengthening days of spring are harbingers of brighter times ahead for Britain's business community. Change is very much in the air following several years of existential challenges for companies in a variety of sectors. Arguably the most significant is the prospect of a new government if the latest opinion polls are anything to go by. Even before the nation goes to the polls, though, we may be in line for a succession of interest rate cuts as inflation is finally brought under control. Yet entrepreneurs could be forgiven for
Broadway, For Today…and Tomorrow
Who are we at Broadway Insurance? Broadway Insurance is a fast-growing and agile advisory firm enabling entrepreneurs, companies, and high-net-worth individuals to make their aspirations possible. Our blueprint for Broadway is intentionally different, and we are always looking for talented individuals who share our passion for being disruptive. We actively look for ways to improve our service for our customers to bring you the best-in-class products and insight to help protect your company, your family, your assets, your employees, and your future. We’re ambitious and we offer more than just specialist insurance broking and risk management advice and brokerage. As
Healthcare Insurance Market: What To Expect In 2024
Due to rising medical inflation costs and the number of claims insurers are seeing, the healthcare market finds itself in a bit of a difficult place at the moment. Because of this, it’s important to listen to the specific needs of the client, help them understand the market, explain products available, including the promotion of relevant additional benefits effectively and regularly. With this in mind what we are increasingly seeing is many large and complex clients searching for an advisor who is almost an extension of their HR Team - someone who can provide the support and guidance required to implement and develop their health and wellbeing strategy long term. To examine this in
Off-Road: Theft, Insurance And The Evolving Car Market
It described how some insurers were so alarmed at the rate of car thefts in the UK that they had started to refuse to cover some of the country's most popular four-by-four and Sports Utility Vehicles (SUVs). Sadly, the situation has not improved since. In fact, the latest crime data issued by the Office for National Statistics (ONS) late last month illustrated that the theft of vehicles continues to accelerate. During the 12 months to the end of September, there were 132,489 cars and vans stolen across England and Wales - up eight per cent on the previous year. New
Corporate Risk And Insurance: What Matters Most In 2024?
We are often asked, what are the main differences between generic insurance broking and tailored, specialist risk management advice? Generic insurance broking offers you an off-the-shelf insurance product, with limited options to tailor to your individual needs. Although easily accessible and quick to purchase, if not reviewed appropriately, they can quickly become out of date and not be aligned with the future risk profile of your business. Specialist risk management and insurance solutions go beyond simply insurance placement – we place greater emphasis on educating and empowering our clients to recalibrate priorities and build additional resilience. At Broadway Insurance Brokers
Are We In Your Diary For 2024?
Opening the diary to 2024 is a wonderful opportunity for organising the year ahead. For some clients it’s business as usual, while others plan exciting new projects, adventures, or milestones. We are often privy to all aspects of our client’s lives and see ourselves as an extension of their family or business – for us it’s personal. What matters to one client is vastly different to the next. Our highly skilled team have amassed over 250 years’ experience in high net worth personal and business insurance, we make it our mission to look after client’s present whilst anticipating all future
“Pivotal” Year As Broadway Backs Up Growth With Awards Success
Broadway Insurance Brokers is celebrating the latest recognition in a remarkable continued run of success. The firm has been named the Best Specialist Insurance Brokerage in Greater Manchester in the SME Finance Awards - the fifth time in the last 12 months that Broadway has either been an award winner or featured in prestigious rankings. Chief Executive Daniel Lloyd-John has described 2023 as "pivotal", with the recruitment of several senior personnel fuelling continued growth in clients and workload. Only just weeks ago, he announced that the firm had arranged cover more than £2 billion of corporate and private assets with
Broadway Goes Global In Latest Industry Analysis
Broadway Insurance Brokers has capped another remarkable year by being named among the very best performers in the global insurance industry. Despite only launching in 2020, the boutique firm has been singled out in a list of the world's Five-Star Brokers published by Insurance Business magazine. Chief Executive Daniel Lloyd-John has described the twin recognition as a "fitting tribute" to the effort of his colleagues in establishing Broadway as one of the leading risk management consultants outside London. "We have really all been blown away by everything that's happened over the last 12 months. "Even more than being able to
Private And Personal: Health Cover The Broadway Way
As I write, we are heading into what is traditionally the busiest period of the year for the National Health Service. Only last month, the Government announced an additional £200 million to help the NHS cope with pressures on available resources from seasonal ailments, 'flu, the latest Covid-19 variant and the impact of ongoing industrial action. It is arguably not an over-reaction, given that the waiting list for treatment has risen in recent weeks to a new record high. According to the various media reports, 7.75 million people were awaiting operations or the start of a treatment programme at the
Broadway The Talk Of Manchester With Latest Awards Shortlisting
A further year of success has propelled one of the UK's most dynamic names in insurance broking in the running for yet another award. Broadway Insurance Brokers is one of six firms shortlisted for the Best Business Insurance Company prize at the Talk of Manchester Awards. It is the latest recognition for the fast-growing firm and comes after 12 months in which Broadway has claimed both collective and individual titles. Broadway was hailed as the Commercial Lines Specialist Broker of the Year at the National Insurance Awards. Chief Executive Daniel Lloyd-John said that the Manchester nomination underlined the impact which
Hard Markets, Brokers And Bare Necessities
Only a few of years ago, a decision by the Bank of England's Monetary Policy Committee not to raise interest rates would barely have generated a murmur. The economy seemed stable and whilst interest rates may have confounded the future plans of savers to a degree, they conversely meant that things like mortgage repayments were affordable. That, of course, was before the first impacts of Brexit began to be felt and in advance of the Covid-19 pandemic and the war in Ukraine. So, this week's narrow vote in favour of leaving interest rates on hold for the first time since
Teamwork: Clubs And Players Working Together To Defeat Thieves
This week has seen the resumption of the UEFA Champions League, football's most lucrative club competition. When the tournament's group fixtures were announced last month, there was intense excitement for players, pundits, press and fans alike. Yet I suspect that there will have also been a degree of apprehension too. That's because knowledge of the fixtures is more than a cue to squad rotation for managers and a scramble for tickets by supporters. It also provides criminals at home and abroad with the playing schedule for the sport's elite and best-paid performers in the months to come. After all, a
Five-Star Broadway Completes Ranking Double
Broadway Insurance Brokers has cemented its place as one of the most dynamic names in the UK's insurance industry by being named in two of the country's most prestigious professional rankings. Chief Executive Daniel Lloyd-John has become the only broker outside London to feature in the latest classification of leading advisors to high net worth clients compiled by Spear's magazine. In addition, Broadway is the sole company from the north of England included in a list of the Five-Star Brokers published by Insurance Business magazine. Mr Lloyd-John has described the rankings as a testament to the commitment made by both
Regulation And Respect: The Importance Of Compliance
The financial services industry makes up one of the key pillars of the global economy. Bearing in mind the enormous number of lives which it affects, it is only right that there are controls in place to ensure that it acts in a fit and proper manner. In the UK, overseeing the sector falls to the Financial Conduct Authority (FCA). It was created by an act of parliament a decade ago as one of the mechanisms to regulate how the industry functions. Even though the regulatory framework which it is responsible for maintaining has changed markedly in the years since,
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