20th June 2022
As part of our recent newsletters and updates to our clients I have advised of our intended business group restructuring. As the date of the actual change is getting closer I thought I would give you more information of what this means and when things will start to happen.
Firstly you can CLICK HERE to a copy of our formal Statement of Change document which notes current company and regulated authority number and our new ones. Please CLICK HERE for our terms of business agreement (TOBA) and privacy notice for the new company. We advise in the statement of change that your details will be passed from WM Brokers Limited to WM Brokers Limited. This is purely an inter-company data transfer and we are not sending your personal data outside of our group of companies.
As advised previously the intention is to split our General Insurance Division out from of Financial Services division. This would, eventually, enable ourselves to have both sides of the business Chartered Status and clearly define the two distinct separate business for our clients.
We have purchased a company called WM Brokers Limited and on 27th June 2022 all General Insurance clients, policies and staff will move over and begin trading from this new business. As far as you are concerned there will be no changes to who deals with you or how you deal with us. The only changes you will see are changes to our logo’s, email addresses and bank accounts. In respect of the bank accounts we will be moving to HSBC from Nat West and the new sort codes and bank details will be detailed on our invoices.
We have sought and obtained all the correct regulatory approvals and we are now in the final stages of getting the last bits in place so that our transformation is as seamless as possible.
As ever if you have any questions about this please do not hesitate to contact myself on the numbers or email address below or get in touch with your normal WM Brokers contact.
As I have mentioned before we do have many Insurance Products which will assist you if you are unfortunate to be involved in a Cyber incident. The insurance products can offer assistance by:-
• Public Relations assistance
• Informing the Information Commission Office (ICO) of your incident.
• Resolving the issue with professional cyber technicians who deal with these incidents day in and day out.
• Payment for credit monitoring of any of your data subjects that have had their information potentially breached.
• Payment of ransomware demands (subject to applicable law)
• Insurance cover for loss of cash from either phishing or deception
• Getting you back on your feet as soon as possible to maintain your income.
However as in respect of a lot of things in life mitigation of risk is better than just taking out an insurance policy. By mitigating your risk you could reduce your premiums initially but also over the years as you would be less likely to have a claim.
WM Brokers have the Cyber Essentials accreditation which means that we have certain protections in place in respect of our data and website etc. Cyber Essentials is a government backed initiative and costs around £400 plus VAT (plus your IT costs) to obtain, subject to you passing their stringent protocols.
We have talked before about our association with Bewica and Aviva which is going really well and helping our clients. We have however come together again to offer our clients a great way of reducing your Cyber exposure and being able to get a UK Police Digitally Aware certificate. If you were to decide to go ahead this would be a great way of showing your customers that you take their data seriously and have mitigated your exposure.
You will need to sign up before 31st July and you will get 3 months access to Bewica’s platform which offers many tools to reduce your cyber exposure, including sending trial phishing emails to your employees to see who is vulnerable to clicking without thinking. If you see the attached flyer this will give you more information. The only cost is £60 inclusive of VAT for the actual certificate if you wanted to have this.
To join, or for more information CLICK HERE