We're moving!

We are moving!

From Monday 22nd October, Pace Ward Ltd & Pace Ward Financial Solutions Ltd will be located at 6 Ridge House, Ridgehouse Drive, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SJ.

Please direct all correspondence to this address, all telephone numbers and email addresses will remain unchanged.

The risks of holding data

Over the last few years we have all become very used to businesses using new and innovative ways to collect and store information about us.

They use our personal details, our buying behaviours, our purchasing history, our financial status to build a profile around us. Businesses hold, transfer and utilise vast amounts of personal data on a daily basis and to a large extent that is a positive shift, allowing us to interact quickly with trusted suppliers without constantly re-providing information. It also enables us to sift through the almost infinite amount of information in the public domain to find things that truly interest us. But as Spiderman says “With great power comes great responsibility” the more third party data that companies hold, the greater risk in the event of a cyber breach.

If your business is one which collects and stores any kind of staff, customer or prospect data then you will no doubt be aware of the introduction of the new General Data Protection Regulations (GDPR) which will apply from May 2018. The regulations have not been finalised yet, but details of what is expected can be found on the Information Commissioners Office (ICO) Website ico.org.uk


What you may not be aware of is that the first data leak class action appeared in UK courts recently. High Street giant Morrisons were found liable for the actions of a former member of staff who stole the data of thousands of employees and posted it online.

Big changes - Are you covered?

An upcoming regulatory and tax change leaves customers facing the prospect of rising insurance premiums in the coming twelve months. This combined with the challenging trading conditions faced by many businesses right now could see business owners tempted to reduce their overall insurance bill by reducing covers or not accurately assessing the risks they face. This is a worrying prospect which could leave many small and medium sized organisations dangerously under-insured.

Short term gain, longer term losses

Although short term savings can be made by taking cheaper options, underinsurance leaves many companies facing financial oblivion should the worst happen. What’s more, claims involving disputed insurance payments can take significantly longer to process and settle, lengthening the time needed to replace buildings, machinery, vehicles and stock.

The importance of conducting a full risk assessment

Recent adjustments to the Insurance Discount Rate (often referred to as the Ogden rate) have also seen insurers needing to dramatically increase the value of the reserves they set aside to pay injury claims. The potential rise in the settlement figures of such claims mean that it is vital to consider whether the limits that you have in place for your liability insurance policies are sufficient to pay out in the event of a claim.

Speak to us and we can help you to assess these limits.

Car crime on the rise powered by technology

Police data reveals there has been a 30% increase in car thefts over the past three years, as thieves bypass modern vehicle security systems* This is a worrying trend at a time when the cost of motor insurance is already looking set to rise.

Many of us enjoy the convenience of keyless entry to our cars, with some cars not requiring the key to ever leave your pocket or bag. However, the technology which is designed to make our lives easier is actually contributing to the increased problem.

Steve Launchbury, of Thatcham Research, reported recently: “As the car is more digitally connected, obviously that opens it up to new types of criminality.

“When you have keyless-type vehicles where you physically just press a button and walk away, you’ve got the risk now of the signal being captured.”

Terrorism – the rise of vehicles as weapons

As we have all witnessed in recent times, the nature of terror attacks has changed, it is impacting businesses in ways unforeseen just a few years ago.

Terror attacks using vehicles as weapons feel like the new normal and are incredibly hard to police or protect against. The tactic was used widely by militant groups in several attacks in Israel from 2008 onwards.

It has been adopted by small terror cells and lone wolf terrorists in Western Europe with devastating effect. In August, a van drove at speed down Barcelona’s La Rambla Boulevard, crashing into people and killing thirteen.

In London, a terrorist drove into people along Westminster Bridge in March, killing four. Just three months later, eight people were killed by a group of three terrorists who drove a van into people on London Bridge.

Keyless Entry vehicle theft - Top Tips

The theft of vehicles with Keyless Entry systems is becoming all the more common across the UK. Vehicles can be easily stolen by thieves exploiting So how can you protect your car from thieves?

Thatcham Research offer the following security tips for drivers with keyless entry systems:

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