32 NEWS
What’s New?
HSB advises
on cold
weather
protection
Markerstudy
acquires
Zenith
HSB Engineering
The recent introduction of gas
Markerstudy Holdings has
has been advising
restrictions for some businesses
also increases the risk of
acquired Zenith Insurance
businesses on the
breakdown and, when fuel
Company, incorporating Link
increased risk of supply is switched to oil, users
Insurance Company and the UK
equipment failure and
are encouraged to test fuel
service company GHL.
breakdown during the
cut-outs to ensure that they are
operational.
With a £300 million gross written
coldest winter in over
premiums, target for 2010, to
a decade.
The insurer is also warning
include acquisitions and organic
businesses of the danger to
growth, the latest purchase
A number of schools and
electrical equipment as severe
secures for Markerstudy Group an
businesses have been affected
weather can cause power
addition £140 million in GWP.
by failed boilers and HSB
fl uctuation and interruption
has reported an increase in
as downed wires disrupt the
Kevin Spencer, Group CEO,
queries relating to equipment
power supply. When electricity
commented: “2010 will
malfunction associated with
is restored the sudden surge
undoubtedly be an exhilarating
cold weather.
of power can destroy modern,
year for us. Our intention is to
high-tech equipment that
operate both insurers separately,
To minimise the potential for
businesses rely on.
maintaining both brands.
equipment breakdown, HSB
is advising businesses that
To manage this risk, businesses
We believe in the vibrant UK retail
heating systems should be kept
should ensure that any
sector and anticipate extending as
operating at all times – running
equipment not being used is
much support to our broker clients
at low setting during off-peak
turned off and unplugged.
as we have since 2001. Zenith
times to reduce the strain on
If a power cut does occur
provides us with another powerful
boilers. As frost damage is
businesses can reduce the
weapon in our armoury and will
more likely at this time of year,
risk of surges by switching off
enable us to compete with the
frost-stats should be checked
electronic equipment until after
larger insurers in the UK”.
and outside vents should also
the power is fully restored.
be protected or cleared of ice
Formed in 2001, Markerstudy
and snow accumulation.
was the fi rst insurer established in
Gibraltar passporting into the UK.
Insurance Brokers’ Monthly February 2010
Whats New 30-33.indd 3 1/2/10 13:58:25
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