Spreading The Risk

LIGHTENING THE LOAD, SPREADING THE RISK against a variety of potential risks. Insurance comes in many forms to cover the different elements in our lives – from our home and its contents, possessions, cars, health, life, pets and Safeguarding against things that might happen in life is an travel to income protection, public liability, professional indemnity and unfortunate necessity most people need to be prepared for, long-term care. Its protection or as Peter d’Aguilar explains coverage can be for a limited period or throughout a whole lifetime. Insurance works on the principle of the policy holder paying a regular,

Nothing in life is totally The dictionary definition of relatively small premium to the insurer risk free, including life insurance is an arrangement by in case they should suffer a loss or itself – so we all need a which a company or the state a claim against them. If this should degree of security and undertakes to provide a guarantee unfortunately occur, the insurer then protection from unforeseen setbacks. of compensation for specified loss, pays out a potentially much larger sum In one form or another, insurance has damage, illness, or death in return by way of compensation. The insurance always been around. Early humans for payment of a specified premium policy is the contract between the hunted dangerous prey in groups, to – providing protection against a insurer and the insured, setting out spread the risk. Valuable goods were possible eventuality. In a nutshell, everything the policy covers and any transported in several different cargo insurance is a mechanism to mitigate conditions and exemptions. In order ships, reducing the chances of losing risk by spreading it among a group of to keep premiums down and avoid everything at sea through shipwreck participants – so that no one is left to too many small claims many policies or piracy. In more modern times, carry the burden single-handed. include an excess, which is the amount the insurance risk is passed from the In an ideal world we would never of your claim you agree to cover before individual to an institution that has the need insurance. Nevertheless, it is resources to cover a substantial loss. reassuring to know we are covered

A good insurer can turn a difficult situation into a more bearable one

This is your time This is your time

When life is busy and time is precious, money can be the last thing you want to think about. But clever financial OUR SEMINARS: PENSIONS When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive Let your future take flight planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. changes in your life. It’s time to get your money working for you. 10th June 5pm – 7pmYour best life starts now

Let your future take flight Your best life starts now Let your future take flight Your best life starts now At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. INHERITANCE TAX 19th August 10am – 12pm INVESTMENTS 21st October 2.30pm – 4.30pm At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Let your future take flight Your best life starts nowThis is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. OUR SEMINARS: PENSIONS 10th June 5pm – 7pm INHERITANCE TAX 19th August This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of.

Then let me help you! Need financial advice?Then let me help you! I’m Michael Bains, your local Need financial advice? This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial OUR SEMINARS: PENSIONS 10th June 5pm – 7pm This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. OUR SEMINARS: PENSIONS 10th June 5pm – 7pm INHERITANCE TAX 19th August 10am – 12pm INVESTMENTS 21st October 2.30pm – 4.30pm This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Herbert Scott Ltd • The Left Bank • 173 High Street • Lewes • East Sussex • BN7 1YE Tel: 01273 407 500 Email: enquiries@herbertscott.uk Web: www.herbertscott.uk Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Call us on 01273 405700 to book your free place Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 OUR SEMINARS: Call us on 01273 405700 to book your free place PENSIONS 10th June 5pm – 7pm INHERITANCE TAX 19th August 10am – 12pm INVESTMENTS 21st October 2.30pm – 4.30pm This is your time When life is busy and time is precious, money can be the last thing you want to think about. But clever financial planning can bring huge benefits and positive changes in your life. It’s time to get your money working for you. At Herbert Scott we believe in helping you achieve financial freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Herbert Scott Ltd • The Left Bank • 173 High Street • Lewes • East Sussex • BN7 1YE Tel: 01273 407 500 Email: enquiries@herbertscott.uk Web: www.herbertscott.uk What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Call us on 01273 405700 to book your free place 10am – 12pm INVESTMENTS 21st October 2.30pm – 4.30pm What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Jan 21 Herbert Scott FP.indd 1 03/12/2020 14:36 Herbert Scott Ltd is authorised and regulated by the Financial Conduct Authority. I’m Michael Bains, your local Financial Adviser. Do you need advice about your pension? Would you like to review your savings or investment portfolio? Are you thinking about buying a new property or, perhaps, considering equity release? It can be difficult to know where to get good, reliable, financial advice, especially if you want a service that provides everything under one roof. I’m a qualified financial adviser and can offer you expert advice on all your financial Financial Adviser. Do you need advice about your pension? Would you like to review your savings or investment portfolio? Are you thinking about buying a new property or, perhaps, considering equity release? It can be difficult to know where to get good, reliable, financial advice, especially if you want a service that provides everything under one roof. Need financial advice? Then let me help you! I’m Michael Bains, your local Financial Adviser. Do you need advice about your pension? Would you like to review your savings or investment portfolio? Are you thinking about buying a new property or, It can be difficult to know where to get good, reliable, financial advice, especially if you want a service that provides everything under one roof. freedom and peace of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. INHERITANCE TAX 19th August 10am – 12pm INVESTMENTS 21st October 2.30pm – 4.30pm of mind, so you can get on with enjoying every day knowing your finances are taken care of. What kind of life would you like for you and your family? What does a life well-lived look like to you? How will you provide for your future? We take time to properly understand where you are now and explore your relationship with money, as well as your hopes for the years ahead. We then set about helping to make your long-term financial goals a reality. Herbert Scott Ltd • The Left Bank • 173 High Street • Lewes • East Sussex • BN7 1YE Tel: 01273 407 500 Email: enquiries@herbertscott.uk Web: www.herbertscott.uk Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Call us on 01273 405700 to book your free place Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Jan 21 Herbert Scott FP.indd 1 03/12/2020 14:36Herbert Scott Ltd • The Left Bank • 173 High Street • Lewes • East Sussex • BN7 1YE Tel: 01273 407 500 Email: enquiries@herbertscott.uk Web: www.herbertscott.uk Jan 21 Herbert Scott FP.indd 1 03/12/2020 14:36 needs, both personal and commercial. I’m also a member of the Equity Release Council and SOLLA, the Society of Later Life Advisers. Mortgages, equity release, life insurance, business protection, investments, pensions, savings, inheritance tax planning – and much more. By providing you with advice tailored to your needs along with a high level of service, I aim to win your trust and build a long-term relationship with you; a relationship that means I can help you I’m a qualified financial adviser and can offer you expert advice on all your financial needs, both personal and commercial. I’m also a member of the Equity Release Council and SOLLA, the Society of Later Life Advisers. Mortgages, equity release, life insurance, business protection, investments, perhaps, considering equity release?I’m a qualified financial adviser and can offer you expert advice on all your financial needs, both personal and commercial. I’m also a member of the Equity Release Council and SOLLA, the Society of Later Life Advisers. Mortgages, equity release, life insurance, business protection, investments, Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Call us on 01273 405700 to book your free place Invest in your best life; together we can make it happen. Lets get started, call us today on 01273 407500 Jan 21 Herbert Scott FP.indd 1 03/12/2020 14:36 both now and, as your financial circumstances and goals change, in the future.pensions, savings, inheritance tax planning – and much more. pensions, savings, inheritance tax planning – and much more. For a free initial consultation, please contact me to book an appointment. I look forward to meeting you! Michael Bains DipPFS, Certs CII (MP&ER) Financial Adviser t: 01892 664477 m: 07827 018481 e: michael@onefinancialsolutions.co.uk w: www.onefinancialsolutions.co.uk

By providing you with advice tailored to your needs along with a high level of service, I aim to win By providing you with advice tailored to your needs along with a high level of service, I aim to win your trust and build a long-term relationship with you; a relationship that means I can help you your trust and build a long-term relationship with you; a relationship that means I can help you both both now and, as your financial circumstances and goals change, in the future. now and, as your financial circumstances and goals change, in the future. Herbert Scott Ltd • The Left Bank • 173 High Street • Lewes • East Sussex • BN7 1YE For a free initial consultation, please contact me to book an appointment. For a free initial consultation, please contact me to book an appointment. Tel: 01273 407 500 Email: enquiries@herbertscott.uk Web: www.herbertscott.uk I look forward to meeting you! I look forward to meeting you!

Michael Bains

DipPFS, Certs CII (MP&ER)

Financial Adviser t: 01892 664477 m: 07827 018481 e: michael@onefinancialsolutions.co.uk w: www.onefinancialsolutions.co.uk

Michael Bains  DipPFS, Certs CII (MP&ER) Jan 21 Herbert Scott FP.indd 1  Financial Adviser t: 01892 664477  m: 07827 018481  e: michael@onefinancialsolutions.co.uk  w: www.onefinancialsolutions.co.uk One Financial Solutions Ltd is an Appointed Representative of 2plan wealth management Ltd. It is authorised and regulated by the Financial Conduct Authority and entered on the Financial Services Register (www.fca.org.uk) under reference 607130. Registered address: Dorset House, Regent Park, Kingston Road, Leatherhead, Surrey KT22 7PL. Registered in England No: 08141263. Tax planning is not regulated by the Financial Conduct Authority. Your home may be repossesed if you do not One Financial Solutions Ltd is an Appointed Representative of 2plan wealth management Ltd. It is authorised and regulated by the Financial Conduct Authority and entered on the keep up repayments on your mortgage. Most Buy to Let mortgages are not regulated by the Financial Conduct Authority. Financial Services Register (www.fca.org.uk) under reference 607130. Registered address: Dorset House, Regent Park, Kingston Road, Leatherhead, Surrey KT22 7PL. Registered in ID: OFS MB Ad (v.1b) 0321 England No: 08141263. Tax planning is not regulated by the Financial Conduct Authority. Your home may be repossesed if you do not keep up repayments on your mortgage. Most © Copyright One Financial Solutions 2021 Buy to Let mortgages are not regulated by the Financial Conduct Authority. ID: OFS MB Ad (v.1b) 0321 © Copyright One Financial Solutions 2021 TOP RATED FIRM 2020

TOP RATED FIRM 2020

03/12/2020 14:36

the insurer pays the rest. In the event of a claim, the case is assessed by a claims or loss adjuster.

Insurers sometimes dilute their exposure to larger claims by taking out reinsurance, spreading the risk across other insurance companies. Insurance underwriters are professionals who evaluate and analyse the risks involved in insuring people and assets. Insurance underwriters establish the pricing for accepted insurable risks. The term underwriting means receiving remuneration for the willingness to pay a potential risk.

Perhaps the world’s best-known insurance institution is Lloyds of London, which was founded in the seventeenth century and operates as a marketplace within which multiple financial backers, grouped into syndicates, come together to pool and spread risk.

As with any product purchase, it is advisable to shop around for the best and most cost-effective insurance cover. A good insurer can turn a difficult situation into a more bearable one, providing helpful advice and prompt payment.

While it’s worth asking for independent recommendations from friends and family, the internet is It is reassuring to know we are covered against a variety of potential risks

another place to search. Comparison sites advertise widely and memorably (ranging from meerkats to opera singers) and provide access to a range of insurers. Many people still prefer the customer service, personal touch and face to face experience that comes from using an insurance broker. Ultimately, the aim is the same; to find the best product and negotiate the most favourable rates.

Inevitably, insurance premiums tend to go up after a claim has been made. Conversely, especially in the case of car insurance, a no-claims discount can bring the premium down.

While we hope that our most substantial claims, if any, will be for nothing more drastic than a dented car or a lost handbag, natural disasters can result in massive compensation payments. Earthquakes such as Los Angeles 1994, China 2008 and Japan 2011 resulted in multi-billion-dollar pay-outs; as did several recent hurricanes and tsunamis. However, the biggest hit insurers have ever taken was the 2008 financial crisis, which cost institutions and governments over 20 trillion dollars. l

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