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CoverNotes Henderson Insurance Broking Group I Spring 2016 INSURANCE BROKING GROUP Henderson Suite unveiled at Hospice P.5 Harrogate office launc...
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CoverNotes Henderson Insurance Broking Group

I Spring 2016


Henderson Suite unveiled at Hospice


Harrogate office launches

Safer gaming


Charlie’s Challenge



HIBL goes above and beyond during time of crisis


Exclusive training session with Kevin Sinfield


CoverNotes Looking Back on 30 Years

We’ve come a long way in three decades! I

Knights (nee Porter), Graham Kettlewell and Michael Wright, all of whom are still involved in the business, with Michael now the CEO of the main trading company Henderson Insurance Brokers Ltd.

t goes without saying that I am very proud of our achievements over the past 30 years and with the old adage, I wish I knew then what I know now, we could have avoided a number of errors. But nevertheless, on balance we’ve got the vast majority of things right and if you can manage not to repeat your mistakes, I’ve always felt you’re going in the right direction.

I also would like to say thank you to our clients, who have been very loyal. Insurance is a very intangible topic and the proof of the pudding is when large claims occur and our record in this respect is unmatched. We now look forward to the next decade with a great infrastructure in place with complementary specialist subsidiaries, a position that I believe puts us as the most successful and largest truly private organisation in the UK.

I have to say an enormous thanks to all colleagues, past and present, in particular the original gang of 4 of Steve Preston, Jennifer



CEO of HIBL Group March 2016

Birth of the first cloned mammal ‘Dolly the Sheep’

Manchester United win the Treble

The Launch of Google

Death of Diana Princess of Wales


2003 HIBL Healthcare division established

Acquired Stamford Insurance Brokers Ltd

Optimum Risk Solutions established

The future’s looking bright...


Contractsure formed with offices in Leeds & London

HIBL hits its 30 year anniversary.

Joe Henderson

General Accident and Commercial Union merge to form CGU


Blair’s Labour party wins a second successive general election victory

Many thanks for your support, I look forward to maintaining our mutually beneficial relationship.

Fred Gibson takes position of non Exec Chairman

2001 HIBL acquires Taylor Insurance and Baile Insurance

The UK economy and the world is in a state of constant change and still fragile but we remain agile, committed and professional to provide our clients with a first class service in many areas of cover, premium cost and claims settlement .



Millennium bug fails to show



Leeds offices relocate to Morley

As always I remain very active in the business whilst senior colleagues are taking on more responsibility and remain available to all clients at any time.

1996 Take That split up Prince & Princess of Wales divorce

HIBL establishes BigTicket unit New Orleans floods



Peterborough office launched North Yorkshire office opened HIBL acquires Cecil Grice

2016 HIBL hits it’s 30 year anniversary John Reynolds Group acquired




JE Henderson established

JE Henderson Leeds office opened

Lloyd’s moved to new building

Margaret Thatcher elected for third term






Name changed to Henderson Insurance Brokers Limited (HIBL) Nelson Mandela freed

Hull office opened

The first BBC Red Nose Day raises £15 million for charity

Women allowed to study at Magdalene College Cambridge for the first time

Hello Magazine launched in the UK


Channel Tunnel opened




Brit Pop at it’s height


HIBL’s Grimsby office opened The Queen announces that Buckingham Palace will open to the public for the first time



Scunthorpe, Grimsby and Hull offices relocated to Kirmington

John Major re-elected as prime minister

Securitas robbery takes place


HIBL headlines the Lincolnshire Show


The Queen celebrates her Ruby Jubilee.

Collapse of Bairings Bank



Diana, Princess of Wales, announces her withdrawal from public life



The smoking ban came into effect

Manchester office opens

UK Credit acquired

Prince William officially opened the new Wembley Stadium

Surety Services division launched

The UK economy comes out of recession

Acquisition of Denny O Hara which became HEB


Stockton office opens


2011 2015

Tim Berners-Lee invented and launched the internet



HIBL’s Harrogate office opened

CRS acquired

Peterborough move offices

Princess Kate and Prince William celebrated the birth of Princess Charlotte

Voters in a referendum in Scotland reject independence

The Duchess of Cambridge gives birth to a son Prince George


Prince William and Kate Middleton marry in a ceremony watched by millions around the world The News of the World shuts down

Britain hosts the 2012 Summer Olympics Death of Whitney Houston



CoverNotes Looking Back on 30 Years

Our longstanding staff “It’s been a great journey with plenty of hours of hard work and challenges, but most importantly it has been very enjoyable.”

Jennifer Mary Knights

Steven Preston

Michael Wright




Q: When did you start working at HIBL? 

Q: When did you start working at HIBL?

Q. When did you start working at HIBL?

A: My first day was on the 1st June 1989 – 27 years ago.

A: I started working for the business in May 1984, and for HIBL from when the company was formed in 1986 – 32 years ago.

A: I started working for the business in June 1987 – not quite 30 years but nearly.

Q: What was your first position? A: Claims Manager at the Leeds office.

Q: Can you give us an insight into your journey with HIBL? A: I was initially appointed as Claims Manager dealing with a wide variety of claims for our clients, who at that time were mainly in the construction sector, this led to a specialism in construction. Thereafter, I was appointed a Director, and for a time I also acted as Company Secretary where I was involved in the implementation of a revised Health & Safety Policy, Contracts of Employment and Company Training Plan. In July 2001 I was appointed Managing Director of our subsidiary company, Contractsure, until the Northern division was transferred back into Henderson Insurance Brokers, where I continued to specialise in construction.

Q: What has been your biggest achievement or highlight within your time at HIBL? A: I have found that my highlight throughout my time here has been building up relationships with some great people. I have dealt with some of my clients, mainly construction, over many years and building a rapport with them is a great achievement.



Q: What was your first position? A: My first position was as the office manager.

Q: Can you give us an insight into your journey with HIBL? A: I started as office manager in 1986 and was made a Director a couple of years later. I have worked out of several offices and worked from the very first office in Scunthorpe and for the past 3 years I have been based in Hull. My perspective encompasses the development of the HIBL business from inception, to the current operations.

Q: What has been your biggest achievement or highlight within your time at HIBL? A: In terms of highlights, this would be my involvement in the recruitment and development of a number of colleagues who have subsequently made significant progress within HIBL. I have seen several of them develop and work their way up in the business, which has been fantastic.

Q. What was your first position? A: My first position at HIBL was in the Personal Lines department.

Q. Can you give us an insight into your journey with HIBL? A: I started working on private motor and household quotations (manually from rating guides, not on a computer). In 1989 I played a large role in the establishment of the Leeds office with Joe Henderson, and was permanently based there. Not long after I also helped establish the Hull office and after 5/6 years in Hull, the office moved to the Kirmington and I became Managing Director of HIBL for 10 years. I’m currently the CEO of HIBL with responsibility for several major clients and also insurer relationships.

Q. What has been your biggest achievement or highlight within your time at HIBL? A: There have been numerous highlights, from winning significant clients and retaining these (most of which are still clients today and have become personal friends). It’s been a great journey with plenty of hours of hard work and challenges as you would expect, but most importantly it’s been very enjoyable working for and helping to develop a company and also it’s employees, which has a can do and a ‘desire to win’ culture.


Henderson Suite unveiled at Hospice As we celebrate our 30th anniversary this year, the key milestone offers the opportunity to reflect on the many successes that have contributed to the growth and expansion of Henderson Insurance Brokers Ltd (HIBL). While there are many business and financial achievements among those, some of our proudest accolades are the ones that have provided immeasurable benefits to the communities that we operate within.


ne of our longest standing partnerships is the charitable support that HIBL has provided to Grimsby-based St Andrew’s Hospice. We are proud to have been able to help such a worthy cause and were overwhelmed when they marked their appreciation – and our anniversary – with the dedication of a room within the hospice. The room, which accommodates people facing terminal illnesses, has been named The Henderson Suite in recognition of support the charity has received from HIBL. Its build cost stands at £55,000, with a further £20,000 for furnishing, and has been covered by fundraising and commercial support from our brokerages. The partnership was acknowledged with the recent unveiling of a plaque outside the bedroom. Jane Whenham-White, Head of Income Generation at the hospice, described HIBL’s continued support as “wonderful”, saying: “The relationship between the hospice and Joe Henderson started many years ago after he was shown around the hospice and was really impressed with what we were doing. Since then he has personally

supported us by holding events at his company and at his home year on year. He has done some really good things and often surprised us with kind gestures like sending in a bouquet of flowers out of the blue. “HIBL was also a sponsor for our Polo event in the summer and he and his clients managed to raise a sufficient amount of money to fund the cost of a new bedroom.”

Joe Henderson said: “It’s a great honour to have had our support acknowledged by St Andrew’s Hospice in this way. They are a fantastic local charity, providing families with much-needed support at the most difficult time in their lives. The work that they do is humbling and hugely deserving of all of the support we have provided and more.”

From left, Danielle Roe representing HIBL, nurse Maureen Lea, hospice rep Lauren Alexander and head of income generation at the hospice Jane Whenham-White. Picture: Jon Corken



CoverNotes HIBL News

Harrogate office launches Kick-starting the New Year with further expansion and recruitment, we have opened a brand new office based in Harrogate. The expansion takes the total national network to 14 offices which stretch from Stockton in the North East to London.


he new Cardale Park office is headed up by Mark Robinson and the expansion has already created 6 new jobs within the group. Additional staff who currently work in the Group’s head office in Tingley, Leeds and live close to Harrogate have also joined the new team in Harrogate. Mark, whose previous role was also based in the spa town, joins from six-year tenure at Bluefin. Speaking of the new opportunity, Mark said: “Having worked in Harrogate, I’ve been surprised at the lack of strong insurance broking support in the region. The town has a significant amount of major businesses who, I believe would benefit from national capabilities and expertise delivered by a local office.”

“We are focused on providing the same high levels of customer service that the other Henderson Insurance Broking Group offices provide while benefiting from the opportunity to access the Group’s specialist divisions, products and services.”



HIG, which also proudly supports Harrogate Town Football Club, continues to be an independent, family-run business and is currently celebrating its 30th anniversary in business. HIG enjoyed 10% organic revenue growth in the last financial year, taking it to above £30m on an annualised basis and the management team is hoping to finalise two acquisitions in the near future, which will take the Group’s revenue to circa £35m. The Harrogate office officially launched on 26th January. The team will be attending local business networking events and looking forward to meeting new businesses that may benefit from a locally delivered insurance broking service.

HIBL are a key sponsor for the Harrogate Town Football Club for 2016. CONTACT US: T. 01423 200 000 A. 1 Greengate, Cardale Park, Harrogate, HG3 1GY


Safer gaming Online gaming comes in many forms – from placing your weekly lottery ticket to playing online poker or even betting on a horse in the Grand National. In 2012, the UK’s online gambling sector was estimated to be worth more than £2bn.


owever, when it comes to running an online gaming business, success is heavily reliant on customer confidence – before they part with their money, they want to be assured that any winnings will be paid. Insuring your online gaming business against jackpot pay outs ensures that you’re covered in the event a customer does win big. HIBL’s newest division, GamingSure, launched at the start of 2016 to help assist online businesses with this specialist insurance. Mark Robinson, who is based at the Harrogate office, explains more about why gaming insurance is so important, and how online lotteries work.

Q: What is an online lottery? A: Traditional lotteries tend to be operated by governments or state monopolies. In order to participate in a particular lottery, you have to be a citizen of, and reside in, that state. Online lottery allows players to access various lotteries around the world, playing for larger jackpots on offer in different states.

Q: How does it work? A: There are two business models in the market at present. The traditional method is the ‘messenger’ model. Under this model, the Lottery Operator employs agents in the territories to offer its games. The customer buys a ticket online, the agent receives the number and buys the physical ticket at a store. This is then scanned in and sent to the customer. In the event of a win, the agent collects the winnings and forwards it to the Lottery Operator (minus a commission) for onward transmission to the player. The sector is beginning to move away from this model as there is a risk that, in the event of a win, the agent in that particular territory may ‘disappear’ with the winning ticket that they have legally purchased. Due to this risk, operators are increasingly moving towards the ‘insurance’ model.

Q: What is the ‘insurance’ model and how does it work? A: The traditional method of lottery is that the jackpots offered are derived from the pot of tickets sold, e.g. for the National Lottery to offer a 10m Jackpot, it will have needed to sell circa £50m worth of tickets to fund the jackpot, various side pots and good causes. The more players a lottery has the higher the jackpot. Smaller states struggle with lottery as the jackpots are small. Replacing the actual prize pot with an insurance policy removes the need to fund the jackpot with ticket sales – thus increasing gameplay from day one. The Insurance model also allows lottery operators to set their own jackpot sizes (up to the indemnity limit provided). Therefore if the UK National Lottery Jackpot is £10m – the insurance model allows them to offer it at £50m – therefore increasing gameplay.

Q: What are the general costs of a policy? A: The client is charged a Minimum and Deposit Premium at inception, which is usually between 1.5 and 2% of the indemnity limit taken. Insurers agree a rate, which is applied to each ticket sale and a formula is created to drive a cost of insurance per ticket. A report is produced at the end of each month which shows the amount of tickets bought and premium spent. This is then eroded from the M&D until it is depleted. The Minimum and Deposit is then ‘topped up’ by additional premium, meaning the operator only pays for the tickets insured.

Who is Mark Robinson? Mark has extensive experience in the gaming insurance sector. In 2013 he developed a specialist Prize Indemnity insurance policy with various syndicates at Lloyd’s of London for a new international online lottery business based in Gibraltar. His relationships within the market enabled him to place Prize Indemnity policies with an indemnity limit of €65,000,000 in 2014, which was the largest placement of its type in Lloyd’s of London. Continued development of product then enabled renewal of the policy in 2015 at an indemnity limit of €85,000,000. Mark was a member of an expert panel developed to discuss insurance options to the lottery sector at the Global Lottery Messenger Forum 2015. He was also shortlisted for Insurance Broker of the Year at the British Insurance Awards 2015.

CONTACT US: Mark Robinson - Director T. 01423 200 001 E. [email protected]



CoverNotes HIBL News

Pensions: Secure your best future There’s been lots of good news from The Exchequer in 2015 on pensions including the flexibility around pension pots which can now pass down from spouse to children – bypassing the estate for Inheritance Tax. Those who are aged 55 or over can now draw upon their pension pots and access their money with fewer restrictions. They will also receive 25% tax free and the rest is taxed as income.


ut as always, while there is good news for some there are unpleasant tax surprises for others including Lifetime Allowance and Tapered Annual Allowance. Lifetime Allowance is a limit on how much can be withdrawn from a person’s pension scheme at retirement. On 6 April 2016 this will reduce from £1.25m to £1.0m. The excess is taxed at 55% and so for some individuals this could mean an increase to their retirement tax bill of £137,500. HMRC offer forms of Fixed and Individual Protection to mitigate the tax. HEB can prepare an analysis for you to determine the most effective protection and in some cases we have found that our clients can apply for even higher protection through the 2014 regime.

can put into a pension plan each year is less than the standard £40,000p.a. – potentially tapering down to £10,000pa. Any pension contributions in excess of the TAA are taxed as income. HEB have developed processes and expertise to help clients understand the impact of these unexpected tax bills and take steps to mitigate them – call 0113 2223311 to find out more.

Tapered Annual Allowance (TAA) may affect individuals with a total taxable income above £110,000 p.a as you may be stepping into territory in which the amount that you and your business

£1.25m to £1.0m 25% tax free

Key Facts •

If applying for Fixed Protection all pension contributions must cease before 6th April 2016

If retiring before July 2016 there is an interim application process to HMRC

For those retiring post July 2016 HMRC will launch an online version in July 2016

Individual Protection does not require contributions to stop

HEB can help the client gather the information and make the submission with competitive fees charged.

CONTACT US: Steve McDermott - Director T. 0113 2223311 E. [email protected]



Charlie’s Challenge! C

ongratulations are in order for Charlie Barrett, Trainee Broker at Henderson Insurance Brokers Ltd (HIBL) who won the Insurance Age Broker Challenge of the Year 2015 late last year. Charlie, who works at our head office in Leeds, was put forward to represent the Yorkshire region. He was one of hundreds of applicants invited to the interview stages to compete for one of only six places in the final stages of the challenge. Having made it through to the final six, Charlie faced a series of different tasks and one final interview before the decision was made to award him the 2015 title. Speaking about the award, Charlie said: “It was a fantastic experience to take part in the Insurance Age Broker Challenge of the Year and I cannot believe I was the winner. My advice to anyone looking at applying for it this year would be, just go for it! It is a brilliant opportunity to learn a lot in such a short space of time.” HIBL CEO, Joe Henderson, said: “We’re really proud of Charlie’s achievement. Finding and recruiting the best young talent and providing them with industryleading training and professional development opportunities has always been a key pillar of our business growth and success. To see young members of our team beating hundreds of other broking staff to a national award is hugely satisfying and demonstrates the strength of our continual commitment to careerlong learning.”

Group News

John Reynolds acquisition Henderson Insurance Group (HIG), the holding Company of Henderson Insurance Brokers Ltd and subsidiaries, announce the acquisition of 100% of the share capital of The John Reynolds Group and subsidiaries with effect from Wednesday 10th February 2016.


he John Reynolds Group has been established for over 100 years and is one of the UK’s leading credit insurance specialists, complemented by a general/ personal insurance division. With offices based in Manchester (Head office), London and Sheffield the locations complement Henderson’s existing Credit business (UK Credit Insurance Specialists Ltd) and the intention is for the two businesses to be merged no later than 1st May 2016 into one entity which will be run on a day-to-day basis by joint Managing Directors, Peter Hodgson and Paul Martin.

The two businesses of JRG and UKC combined will create the UK’s leading independent credit insurance provider, placing premiums in excess of £50m per annum and will enable them jointly to have a more global footprint to meet the demands of both business’ clientele. All staff at both companies will be retained and as with the Henderson philosophy, investment will be made throughout the businesses.

Making the transition to ISO 14001:2015 Corporate Risk Systems have delivered two seminar workshops to delegates from all sectors including nuclear, construction, food manufacturing, aerospace, Ministry of Defence, oil and gas etc. over the past two months, giving help and advice on how the new IOS 14001 standards have changed and how they affect organisations. The two workshops were delivered at Sahara Force India F1 HQ, Silverstone on 4 September and 2 October 2015 and both events filled up very quickly.


re you in the same position as the attendees and don’t know where to begin to get your organisation to meet the new standards which include: leadership, planning, operations, performance evaluation and improvement? Also clause changes in the areas of: •

Incorporation of environmental business risk, resilience and opportunities into strategic planning

Inclusion of Life Cycle Thinking and Value Chain analyses

The Setting of Environmental Performance Indicators and more reliable reporting.

For many organisations ISO 14001:2004 has been embedded into the organisation and for others it is paper based audit trail of tracking and monitoring legal compliance and improvement against a limited number of utilities, such as energy use, waste of fuel use. IOS 14001:2015 aims to significantly raise

the bar by driving organisations to consider environment as a strategic risk and opportunity, integrating sustainability considerations into planning decisions. The new standard will require a greater level of integration between EMS and the organisation’s day to day operations and longer term planning. Why not let CRS help you and your organisation to implement the new ISO 14001 standard? We offer consultancy and support for as long as you may require, including a first visit to carry out a gap analysis, preparation of a full report on our findings and then a schedule/planner on how you can meet the new standards within your own time frames. As from September 2015 both ISO 9001 and ISO 14001 became affected by the new standards and OHSAS 18001 will become ISO 45001 from October 2016. CRS can help and support you to implement all of these new standards.

CONTACT US: Ros Stacey - CRS UK Sales Director T. 01332 527107 E. [email protected]



CoverNotes Added Value

HIBL goes above and beyond during time of crisis

While many of us were preparing to celebrate the festivities last December, many households across the country were being battered by Storm Eva, which caused severe flooding, property damage and left around 50,000 homes without electricity. While such events are upsetting at any time of the year, the Christmas period could have added additional complications in terms of accessing claims support the affected so badly needed. However, HIBL believes that clients come first, and despite being officially ‘closed’ during the festive period, it was business as usual for our claims teams. Given the poor weather and volume of emergency calls during the aftermath of Storm Eva, we re-opened our Leeds Head Office on 29 and 30 December – a team of five people were in place to answer calls and assist clients from 8:30am to 2pm. This meant that losses could be reported to insurers promptly, loss adjusters were arranged to visit premises and HIBL claims support managers could attend the sites of those clients most severely hit. And, when the office was closed, emails and phone calls were still answered remotely to ensure continuity of service.

How we helped To ensure our clients got the support they desperately needed during this difficult time, we ensured the following was possible from Boxing Day: 1) physical presence in office to handle calls 2) s  election of the most appropriate loss adjuster for the client, taking into consideration the location and availability of loss adjuster 3) liaison with surveyors to assist with building repairs 4) liaison with insurers to ensure prompt visits 5) arrangement of prompt interim payments and acceptance of policy liability 6) loss adjuster visits where required.

Between 6 December 2015 and 4 January 2016, HIBL recorded 91 weather-affected claims, 53 of which were flood-related and 38 were storm-related. This equated to a significant claims value of £16,640,940, of which £1.6 million has already been paid out by insurers. CONTACT US: Peter Wilkinson – head of claims E. [email protected]



Images: Phil MacD Photography / Shutterstock.com


Exclusive training session with Kevin Sinfield To be the best you have to train with the best! We’re offering you and your family an exciting opportunity to join former England and Leeds Rhinos Captain and current Yorkshire Carnegie player, Kevin Sinfield, in an exclusive training session.


evin and several of his Yorkshire Carnegie team-mates will demonstrate some of the core skills required to be a professional rugby player, focussing on tackling, passing and high kick catching. After a tough morning on the pitch and a hearty lunch, the group will then see what it’s like to be a sports journalist as they quiz Kevin on his long and successful rugby career. Over the past 12 months, we’ve held a number of successful training sessions with Kevin – more than 60 children from across the country took part in the first two training sessions at his former Leeds Rhinos training ground in May and August 2015.

Kevin said:

“It’s been great fun to train with the kids – I hope I’ve seen many young rugby stars in the making!” There will be 2 sessions held in Leeds & Grimsby during the summer holidays. Places are limited. To book on the next training session or to register your interest please contact Sam Pryor.

TO REGISTER YOUR INTEREST, PLEASE CONTACT: Sam Pryor T. 0113 393 6300 E. [email protected]




Contact Leeds



Trueman House, Capitol Park,

Redcliff Court, Redcliff Road,

Lowry House, 17 Marble Street,

Leeds, LS27 0TS

Hessle, Hull, HU13 0EY

Manchester, M2 3AW

Telephone: 0113 393 6300

Telephone: 01482 579 800

Telephone: 0161 830 1888

Leeds – Riverside


Contractsure, London

No 1 Whitehall Riverside,

6 Commerce Road, Lynchwood,

8th Floor, Fountain House

Leeds, LS1 4BN

Peterborough, PE2 6LR

130 Fenchurch Street,

Telephone: 0113 261 5088

Telephone: 01733 404 488

London, EC3M 5DJ



Henderson Employee

Map House, 3 George Stephenson Court,

UK Credit Insurance

Benefits Limited

Westland Way, Preston Farm,

Specialists Ltd

Victoria House, Redvers Close,

Stockton on Tees, TS18 3FB

Credit Insurance House,

Lawnswood Business Park,

Telephone: 01642 659 300

39 Southview Road,

Telephone: 0207 469 8880

Marlow, Buckinghamshire, SL7 3JR

Leeds, LS16 6QY Newcastle

Telephone: 0113 222 3311

Telephone: 01628 482 400

7 Park Road, Gosforth Business Park, Harrogate

Newcastle-upon-Tyne, NE12 8DG

Corporate Risk Systems

1 Greengate, Cardale Park,

Telephone: 0191 229 7788

Clay House, 5 Horninglow Street, Burton-on-Trent, Staffordshire, DE14 1NG

Harrogate, HG3 1GY London

Telephone: 01423 200 000

Telephone: 01283 509175

8th Floor, Fountain House Kirmington

130 Fenchurch Street,

Schiphol Way,

London, EC3M 5DJ

Humberside International Airport,

Telephone: 0207 280 0910

Kirmington, DN39 6HB Telephone: 01652 680 888

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