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Find a trusted adviser in changing times


We live in a fast-changing world and change brings fresh risks, but too few companies regularly check if their business risks are adequately covered, warns Jerry Wilson, regional managing director (South-East) of consultants Jelf


“The pace of business change, particularly in technology, is accelerating at such a rate nowadays that it significantly raises the importance of good risk management and the need for appropriate company insurance.”


Whether it’s the risk of Internet fraud, fresh regulation, supply chain disruption, flexible workstyles, international political unrest, or computer data outage, the underlying aim of companies when faced with a claim, says Wilson, should be “to bounce back with minimum disruption".


“Even a small fire can cause enough smoke damage to write off some expensive technical equipment nowadays,” he mentions, noting research that an estimated 70% of small firms that experience a major data loss go out of business within one year.


Speed of recovery is essential to protect corporate reputation, brand-values and avoid customer-poaching by competitors. But, without adequate insurance cover or a robust recovery plan the future can be bleak.


“Business interruption insurance is one of the most under-utilised insurance policies, yet


Jelf: community involvement, local links, and international capabilities


Jelf is helping the inaugural Thames Valley Property Awards get off to a great start by sponsoring the Real Estate Executive of the Year award.


The awards initiative, taking place on May 8 at Ascot Racecourse, is a joint venture between The Business Magazine and UK Property Forums, and the first of its kind for the Thames Valley region’s commercial property sector.


Though well-known nationally through its 30-plus offices, Jelf has strong local Thames Valley connections through its offices in


www.businessmag.co.uk


cover during the post-recessionary years – cash-saving that might prove a false economy, says Wilson, when “the moment of truth” arises.


Insurance policies need to be carefully crafted to cover the ongoing operational needs of individual companies. With the businessworld getting more complex, that should be done through insurance professionals who understand the company and its objectives.


“The Internet may help people feel better informed, but understanding information is necessary too. Insurance policies, ultimately legal contracts, can be very complex, particularly if they are produced as they should be to dovetail with corporate business goals. Insurance should not be viewed as a cost. It’s an integral part of good business risk management.”


Jelf concentrates on the risks of each business scenario by considering how risks impact each other and the business’s overall corporate objectives, identifying those risks that can be overcome by operational improvements, and which risks require insurance cover.


“Our advisory work at Jelf is not about being ‘Yes men’ or simply selling policies. It’s about being part of our client’s professional support team, a trusted adviser – whether that’s for insurance, employee benefits or financial planning – and we have invested heavily in training client-focused advisers that understand and add value to a client’s business.


it helps maintain company momentum and protects your income streams,” adds Wilson.


Many companies reduced their insurance


Reading, Oxford and Guildford, writes John Burbedge.


The Reading office is by far the largest of the trio with 50 staff. Guildford has 12, Oxford six. Reading is also, in revenue terms, the second largest office within Jelf.


Now AIM-listed, Jelf serves a core market of SMEs, and, in the Thames Valley, increasingly mid-market and large corporate clients. Reading FC, for example, is a client.


Jelf’s links with Reading extend back over 90 years, when Goss & Co began its rise to one of Reading’s leading insurance brokers. Jerry Wilson was working for Goss & Co when it became part of the Jelf Group in 2006. Many former Goss insurance and financial planning staff have continued in their professional roles.


Wilson, with 35 years insurance industry experience, undertook various national projects for Jelf, but is now back in Reading as regional managing director (South-East). “Jelf has grown nationally but remains independent in its advice. It also continues


THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2014


Jelf takes pride in its independent advice and close attention to client relationships; a pride justified by its three-star Investor in Customers rating for the past five years. The coveted IIC award places Jelf as the top rated broker within the UK for customer service.


to be integral to local communities with around 80% of business being done within 30-miles of a local office.


“It’s the same here in Reading. We deal with Thames Valley-based companies but if they are trading overseas, we can service their needs through our worldwide links.


“We like to think that our business advice and insurance coverage enables our Thames Valley clients to sleep easy in their beds at night.”


Details: Jerry Wilson 0118-9839832 jeremy.wilson@jelfgroup.com


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