Lorega launches specialist HSE Recovery product for SMEs
9 May 2017: Lorega Limited, the UK MGA and assistance specialist, continues the expansion of its range of assistance products, specifically designed for SMEs, with the launch of HSE Recovery. Lorega’s HSE Recovery insurance provides SMEs with dedicated support from independent, expert health and safety professionals following a covered material breach of legislation enforced by the Health and Safety Executive, together with cover for charges they may incur under the Fee for Intervention (FFI) scheme.
FFI enables the Health and Safety Executive to recover the costs of its regulatory work from those who have materially breached health and safety legislation. More than 60% of HSE inspections now result in a FFI. The Health & Safety Executive currently charges firms for all the time taken in the inspection which identified the breach and all the follow up time in subsequent correspondence and inspections. For the year 2015/2016, Health & Safety Executive figures show a total of £14.7 million in fees were charged.
Where the insured has been notified by the Health and Safety Executive in advance of a visit or they have been served an enforcement notice, Lorega’s HSE Recovery provides cover for up to £25,000 in respect of fees for a health and safety expert; this will include initial telephone advice, a review of documentation and site attendance where a FFI is imposed. Further cover of up to £25,000 to meet the costs of a FFI. If the Health and Safety Executive decide to conduct an interview under caution, then there is also cover for expert and legal fees.
Neill Johnstone, managing director of Lorega, said: “The introduction of the FFI scheme means SMEs can face significant charges and lost management time trying to deal with the impact of an accident or Health and Safety Executive intervention. Without the necessary skills in house, HSE Recovery provides dedicated support from specialist health and safety professionals that can minimise the disruption this is likely to cause and the cost of HSE fees charged.”
Johnstone continues: “The expansion of our portfolio reflects our aim to provide brokers with specialist services that directly address their clients’ needs. By providing SMEs with access to expert help, we can quickly resolve their issues and minimise the financial impact of the risks to their business.
For further information please contact:
Alex Wise, Full Circle Corporate Communications
T +44 (0)20 7265 7887
M +44 (0)7710 665615
Notes to editors
* The Health and Safety Executive Annual Report and Accounts 2015/16 http://www.hse.gov.uk/aboutus/reports/ara-2015-16.pdf
Lorega is the UK’s leading supplier of assistance insurance products to the SME market, which help both home and SME business customers when they need it most.
HSE Recovery is for SMEs with an annual turnover up to £5m. Firms must be subject to health and safety regulations, enforced by the Health and Safety Executive and, where employing five or more employees, prior to any HSE intervention have a written statement of health and safety policy and a risk assessment relating to the business. Insureds must also have a current employers’ liability insurance policy which was in force prior to any Health and Safety Executive intervention.
Lorega’s Loss Recovery Insurance product is an insurance policy which provides and pays for the cost of an independent expert loss adjuster, authorised by the FCA, to help a broker’s clients prepare, negotiate and settle their insurance claims.
Operating in a similar way, its Cyber Recovery insurance product was launched in May 2016 to help businesses survive a data breach following a cyber-attack by providing a Cyber Expert to help them recover and liaise with the Information Commissioner’s Office.
These expert services are also available on demand.
Health and safety experts
Lorega have partnered with Quadriga Health & Safety Ltd to provide the expert health and safety services provided under the policy. Quadriga has a highly experienced team of health and safety professionals, who can support policy holders making a claim under the policy. Ian Clements, Managing Director of Quadriga said: Many SMEs don’t know how to handle the complexities of an HSE investigation, and expert support is of great assistance in ensuring the right action is taken, both at the time of such an involvement and for the future.
For further information: www.lorega.com and Twitter: @LoregaLTD