Pointon York, aware of the high costs and old-fashioned attitudes towards commercial fire insurance cover, has a number of attractive options available in this area of insurance. The usual form of policy covering fire and special perils leaves some firms short of cover, particularly businesses operating fragile machinery which can be severely damaged by a person quite literally “dropping a spanner in the works”. To give this type of client complete protection, Pointon York can offer insurance on an all risks basis.

“High fire risks” is not a term which endears itself to companies because it has too often been used as an excuse to charge “high fire rates”. Competitive terms are available for any business where management is under the control of caring proprietors, irrespective of the trade process involved. For example, the plastics industry is one which is usually regarded in the high hazard class. However, a more realistic approach is now being made and premium terms are fixed on the basis of the trade processes actually involved. As a further service Pointon York has access to a fire testing laboratory which will check out the materials in use for their fire resistance properties. By these means, Pointon York can achieve a more equitable fire insurance rating. In other words, Pointon York believes in treating individual businesses on their merits rather than applying one set of rules to a complete industry.

Represented by Goddard & Smith, the Scottish Provident Institution have purchased a freehold office investment in Cardiff. The recently refurbished premises in Park Place were purchased for £475,000. The total area of 6,700 square feet has been let to an established firm of local solicitors. The lease runs for 25 years, with rent reviews every five years. The investment will show an initial net yield of 6.2%. “Investors are tending to spread their assets over a wider range of properties today”, says Mr Tony Smith, one of the investment partners at Goddard & Smith. “Prime shop and office premises in the £500,000 price bracket are commanding greater interest”.

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