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In 2009, major changes to legislation came into force for environmental impairment. These changes mean every business is now at risk of prosecution if they cause damage to the environment.

Damage to the environment encompasses a wide range of environmental impairments, including pollution of land, water, air and biodiversity damage (i.e. damage to protected species and habitats).

Damage can be the result of an obvious sudden incident such as an explosion or from a gradual cause such as a leaking underground pipe.

Environmental damage can lead to other problems such as illness from drinking contaminated water or breathing contaminated air; property damage to cars showered with corrosive chemicals; or “amenity” issues for those that have to live in the changes environment.

Businesses are responsible for ensuring they undertake practices to minimise the likelihood of causing such damage whilst carrying out their operations and can be held responsible for all clean-up costs if their measures fail.

A standalone environmental liability policy is designed to cover the widest possible range of environmental liabilities.


The hidden costs of Environmental Pollution

In the majority of cases, only the court fine is made public. In almost every case there are additional “hidden costs” involved  in returning the polluted area back to pre-incident levels.

For example;

A UK water company was fined £15,000 for polluting a river. However they also had to pay the bill for:

Fine £15,000
Tankering away the chemical £32,600
Plugging the leak £8,300
An initial fish survey £6,000
Installing new equipment to detect a leak £60,000
EA attendance charges £2,271
Further fish surveys reserve £20,000
Restocking the stretch of river £63,500
Prosecution Costs £3,493
Total £211,164

It is important to remember environmental liability risks can be costly to handle and time consuming to deal with in the short, medium and long term. Preventive measures and financial protection policies are an essential part of any organisations’ management plans.

Contact us now on 01782 286311 for a quote tailored to your needs.

Evaluating price and performance for different Motorsport Motor Trade Insurance policies can be a time consuming process - one which we'll gladly relieve you of at Pace Ward. 

Motorsport Motor Trade cover arranged by Pace Ward can include:

  • Road Risks
  • Service & Sale Indemnity
  • Employers & Public Liability
  • Business Interruption
  • Engineering & Plant Inspection
  • Legal Expenses
  • MOT Loss of Licence cover
  • Personal Accident
  • Property & Contents
  • Wrongful conversion 
  • Engine & Chassis Dyno cover

With an existing client base which ranges from small sole traders to large prestige and performance dealers, our experience and knowledge of the motorsport motor trade industry allows us to arrange comprehensive affordable insurance to meet your needs as a business.

The range of insurance products available to us is designed to cover you for most eventualities associated with your business and the motor trade sectors as a whole. 

We regularly provide insurance for traders tuning engines, track day & motorsport preparation and we can even provide on track cover

Contact us now on 01782 286311 for a quote tailored to your needs. 

The broad range of Farming Insurance products we have available to us at Pace Ward are intended too cater for the ever changing landscape of the farming industry.

Some of the cover you can benefit from with a specialist Farming Insurance policy includes:

  • Farm buildings and contents 
  • Livestock
  • Loss of revenue
  • Employers', Public and Product Liability
  • Farm "all risks" insurance
  • Milk in tanks
  • Computer equipment

  • Hail (crops) 
  • Personal Accident and sickness insurance 
  • Legal Expenses insurance 

From traditional arable or livestock farming to equine use, garden centres and holiday lets, we can create a relevant policy by combining products for a variety of farming activity. Driven by our farming industry knowledge we endevour to make light work of your insurance inssues, with a dedicated service that begins the moment one of our Executives pays a visit to your site.

Contact us now on 01782 286311 for a quote tailored to your needs.

Not all of your valuable assets are tangible - you can protect against a data breach or malicious cyber hack  with a Cyber Liability policy arranged by Pace Ward.

If your business is targeted by a hacker or suffers a GDPR personal data breach, it can take time and money to fix. This can disrupt your business, leading to lost revenue, damaged reputation and regulatory fines.

Statistics show that the average annual cost for businesses that lost data or assets after a breach was £4,180, and 32% identified cyber breaches or attacks in the last 12 months. It was also found that 95% of security incidents were a result of human error.*

You can prepare for this with a Cyber Liability policy which can include the following covers:

  • Cyber Crime (Data Breach, Extortion, Phishing, Fraud)
  • Data theft
  • Material damage
  • Reinstatement of data
  • Business interruption
  • GDPR investigations

*Sources - UK Gov Cyber Security Breaches Survey 2019 and  IBM Security Services Report 2014.

Pace Ward can help your business fend off the financial costs and penalties associated with Cyber Liability, if your business has been the victim of a cyber crime.

Case Study - Payment Card Breach
A retailer suffered a payment card data breach after hackers placed malware on the payment systems at 15 of its stores, which came to light after card brands notified the company of a series of fraudulent transactions. In all, over 30,000 payment cards were compromised, which lead the retailer to incur card brand assessments totalling £345,000.

Immediately following the breach the insured carried out a PCI forensic investigation. Due to the number of retail locations affected, the cost of this reached £95,000. In addition, £31,900 in legal fees were also incurred. The total costs of the incident was £476,900.

For all the effort and hours involved in opening and running a shop or business successfully, you need a Shop and Office Insurance policy that works just as hard.

It’s no secret that running a shop or business is hard work. Sadly, many businesses that suffer a large claims loss struggle to recover due lost to business and the sheer financial outlay needed to pick up again. 

It doesn’t have to be this way. With a Shop and Office Insurance policy, this form of dedicated protection takes into account the impact of a lost trading day and other insurable assets unique to a shop or office environment, such as stock and business equipment.  


Our team at Pace Ward are not only keen to ensure you can be back in business as soon as possible, but help you avoid losses in the first place, with an additional risk management service.Pace Ward can support your business with a Shop and Office Insurance policy that aims to include all the cover you might need to take your business to success, such as:

  • Fixtures and fittings
  • Business Interruption
  • Increased stock
  • Glass cover
  • Money

Contact us now on 01782 286311 for a quote tailored to your needs.

 

Business Insurance

We’ll get to know your business and create exactly the right insurance solution for you. 

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Household policies from standard scheme rated home insurance to tailored High Net Worth portfolios.

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Our specialist prestige & performance insurance policies are specially tailored to meet the needs of the performance car enthusiast. 

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 If you would like a quote for your Business or Personal Insurances, or have any questions click below to get in touch

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" The friendly, knowledgeable, professional yet personal service that you receive is faultless, and of a standard you'd expect to pay a premium for, yet I pay less! " Mr King

Pace Ward Limited & Pace Ward Financial Solutions Ltd

6 Ridge House, Ridgehouse Drive, Festival Park, Stoke on Trent, ST1 5SJ

Tel: 01782 286311

Pace Ward Limited are Independent Insurance Brokers who are authorised and regulated by the Financial Conduct Authority. A member of the Compass Network. Pace Ward Ltd Registered Office - 6 Ridge House, Ridgehouse Drive, Stoke on Trent, ST1 5SJ - Registered in England & Wales Number 4812481

Pace Ward Financial Solutions Ltd is authorised and regulated by the Financial Conduct Authority. Pace Ward Financial Solutions Ltd Registered Office - 6 Ridge House, Ridgehouse Drive, Stoke on Trent, ST1 5SJ - Registered in England & Wales Number 4812481