Insurtech firm swoops for Leeds refund protection specialist

Cover Genius, the insurtech for embedded insurance, has acquired Booking Protect, the Leeds-based specialist in embedded ticket protection for ticket sellers, platforms and live event companies such as SeatGeek, Spectrix, AudienceView, and Night Out in the US, Zaiko in Japan, See Tickets, Festicket and TicketSource in the UK and OzTix in Australia. With the acquisition, Cover Genius expands its presence in the ticketing and Live Entertainment market by enabling ticketing platforms, small-to-mid-sized ticket sellers, events and venues and Booking Protect’s 350+ partners, the ability to offer embedded ticket protection worldwide through XCover, its end-to-end global distribution platform. “We’ve seen significant growth in attach rates and customer satisfaction metrics for ticketing partners like AXS, so we’re excited to apply those learnings and utilize our platform approach in order to supercharge the exceptional foundational work from the talented Booking Protect team,” said Angus McDonald, CEO and co-founder of Cover Genius. “It’s a natural fit for us to team up with established leaders in specialty fields like ticketing who have built a great service and end-to-end solution at the expense of traditional insurers whose legacy systems contribute to poor customer outcomes and stunted growth for partners. While Cover Genius remains focused on enterprise partners like AXS, we recognize that there’s a huge addressable market out there, so acquisitions like this set us to be able to go deep within highly attractive verticals like ticketing.” Booking Protect’s team will move to Cover Genius in order to maximize growth within a sector experiencing explosive growth. Sales have grown 74% YoY to more than 2 million policy sales in 2022. “We started Booking Protect to provide peace of mind to customers who are buying tickets via sellers and events and their upstream ticketing platforms, especially small-to-midsize players,” said Simon Mabb, CEO at Booking Protect. “With the pandemic exposing the need for comprehensive coverage, we believe that now is the time to join forces with Cover Genius to scale our technologies and expand the reach of our mission. We look forward to continuing to serve our partners and help businesses provide a seamless customer experience in their time of need.”

Masterplan agreed for Hull’s Western Docklands regeneration

Hull City Council’s cabinet has agreed ambitious and forward-looking plans to regenerate the city’s Western Docklands area. The report proposed using the existing cruise port budget to create a masterplan for the area between Hull Marina and the Daltry Street Flyover, including the Smith & Nephew site, with the potential to locate a cruise terminal there if the case stacks up. The council will now seek private sector partners and government funding for any future schemes. The Western Docklands area has enormous unfulfilled potential, with opportunities for new homes near the riverfront, as well as much-needed land for businesses to grow and invest in local jobs. Councillor Mike Ross, leader of Hull City Council, said: “We are determined to bring more quality jobs to our city, create new residential areas where people really want to live, and improve those we already have. “We have taken the decision that Sammy’s Point is the wrong location for any cruise terminal, and that investment is better spent regenerating an area that has huge untapped potential. “Working closely with Associated British Ports (ABP), who have a working port here, will be critical to any successful project in this area. “Regenerating an area this big is likely to take up to 10 years, but the council is planning for the long-term and thinking about the city’s economic future.”

Manufacturing output and orders ease, but investment intentions recover

Growth in manufacturing output and orders eased in the quarter to July, slowing to more typical rates of expansion following a period of exceptionally strong growth over the previous year. Average costs and prices continued to rise sharply, although growth eased from recent highs. Optimism within the sector fell for a third consecutive quarter. However, investment intentions generally improved, and employment within the sector continued to grow at a robust pace, though less quickly than expected last quarter (for the third quarter running). Concerns over shortages of labour and shortages of components and materials remained acute, but off their recent highs. The survey, based on the responses of 237 manufacturing firms, found:
  • Business sentiment fell for a third consecutive quarter, but at a slower pace than in April (-21% from -34% in the quarter to April).
  • Output volumes in the quarter to July grew at the slowest pace since the quarter to April 2021 (balance of +6%, compared with +25% in quarter to June and a long-run average of +4%), with a similar rate of growth expected in the three months to October (+6%). Output rose in 10 out of 17 sub-sectors, with headline growth driven by food, drink & tobacco, and aerospace.
  • Average costs in the quarter to July increased at a slightly slower pace compared with the previous quarter, but growth remained well above average (+82%, compared with +87% in April and a long-run average of +31%). Cost growth is expected to slow a little further in the quarter to October (+77%).
  • Domestic price growth in the quarter to July also eased slightly (+51%, from +60% in April; the long-run average is +13%). Prices are expected to rise at a similar pace to the last quarter (+48%) in the quarter ahead.
  • Investment intentions for the year ahead picked up in comparison to April for plant & machinery (+17% from +9%), product & process innovation (+10% from +1%) and training (+10% from -3%). Investment in buildings is expected to fall slightly over the year ahead (-7% from -6%, though this remains above the long-run average of -17%).
  • Numbers employed grew at a similar rate to the previous quarter (+18% from +21%), with a similar rate of increase expected in the next three months (+19%).
Anna Leach, CBI deputy chief economist, said: “The manufacturing sector has been an economic bright spot in recent months, but output and orders have softened amid ongoing cost pressures, supply challenges and a generalised weakening in economic conditions both in the UK and globally. “It is encouraging, however, to see investment intentions firming. Stronger investment will be vital if the UK is to reinvigorate growth and keep recession at bay. The new prime minister will need act quickly to fan the flames of these ambitions by announcing a permanent successor to the Super Deduction and urgently reforming an outdated business rates system that currently acts as a tax on investment.” Maddie Walker, head of Industry X in the UK at Accenture, said: “Manufacturers are still contending with sky-high costs and uncertainty, and while order books remain above normal for now, a continued easing in demand will test their resilience. “There are strong signs that manufacturers are pursuing long-term strategies to see themselves through current volatility with investments in their people, plants and machinery. Rather than pull back on innovation, investing in technology will help to improve productivity, keep costs down, and unlock new ways to make products more effectively.”

New MD appointed to Yorkshire headquartered Caddick Construction

Caddick Construction has appointed Paul Dodsworth as the new Managing Director. Caddick Construction and its subsidiaries form the construction division of Caddick Group and Paul will be head of all construction companies. Paul, who joins from Wates Group where he was Regional Managing Director North, is tasked with continuing Caddick Construction’s vision for strategic geographical and sustainable growth across its divisions. Paul brings with him more than 40 years’ experience across the construction sector and was credited with leading and growing Wates’ Northern Division, which is now recognised as one of the strongest in the Wates Group. Andrew Murray, Executive Chairman of Caddick Construction, said: “We are delighted that that Paul is stepping into this exiting role to lead all of our construction businesses, his hands on approach will strengthen the business and we all look forward to working with him. Paul replaces Adrian Dobson who has retired after almost 23 years on the board. Adrian held the Managing Director Position from 2019, he has been a key member of our board helping to guide the strong growth of the company to become one of the leading and largest independent contractors in the north of England. He will be sadly missed but we wish him well in his retirement and thank him for his massive contribution since joining us in 1999.” Paul Caddick, Chairman of Caddick Group, comments: “Paul has the passion and character to take on the formidable challenges the market currently presents. His experience and ability will drive our aspiration for continued growth as a sustainable forward-thinking business.” Caddick Construction is planning to expand its regions of operation and increase its activity in the residential sector. It will also support the growth of Casa by Moda by delivering the construction of Moda Living’s single family home brand, alongside other key projects across Yorkshire, North East and North West. Paul Dodsworth added: “This is an amazing opportunity and I’m looking forward to being part of the Caddick team that has enjoyed so much success over recent years. I’m particularly excited by the opportunities currently being presented in both the residential and logistic markets. I was immensely proud to be asked to join Caddick Construction. A very well established, respected and financially strong business. The aspirations of the business to expand its geographical footprint, whilst further developing the existing regions, is a challenge I will embrace and drive. I am looking forward to joining on the 1st August 2022.”

Part-time music teacher wins landmark case in the Supreme Court on holiday pay calculations for ‘part-year’ workers

Hopkins Solicitors on 20th of July 2022, saw a landmark judgment in favour of their music teacher client, Mrs Lesley Brazel, by the UK Supreme Court. This decision follows her case being heard before an employment tribunal (in 2017), the Employment Appeal Tribunal (in 2018) and most recently the Court of Appeal (in 2019). The UK’s highest court confirmed the rights of part-year and zero hours contract workers to the full 5.6 weeks’ statutory paid holiday provided for under the Working Time Regulations 1998. They rejected the argument from the school that the entitlement of such workers, should be reduced on a pro-rata basis. Thanks to the judgement, it will no longer be possible for employers to argue staff who don’t work all year are only entitled to pro-rata holiday based on the hours they work. Today’s decision is also good news for anyone working irregular hours or on zero-hours contracts. From now on, all workers will be due the same legal minimum of 5.6 weeks (28 days for full-time employees), even if there are months during the year when they don’t work. Example: The Supreme Court judgment ensures leave must be paid at the rate of an ordinary week’s wages (or if pay varies every week, then an average of all the weeks worked in a year). Annual leave calculations are based on weeks, as a person can work a full week or part of one. The law says that someone working a full year is entitled to at least 5.6 weeks of annual leave (28 days for anyone working full-time hours in a week and this can include the eight bank holidays). The judgment means that an employee working all year, but say, for just two days a week is entitled to 11.2 days a year (2 x 5.6 weeks, so 2.24 weeks or 11.2 days). Lesley Brazel, the part time music teacher, said: “After an eight year legal process I am pleased to have finally secured a basic employment right in accordance with the law and as stated in my employment contract. I would like to thank the Incorporated Society of Musicians, ARAG Insurance, and the legal teams at Hopkins Solicitors and 3PB Barristers, for their outstanding professional, legal and financial assistance throughout. “I am an alumna of the Harpur Trust and I have worked for them as a visiting music teacher at Bedford Girls’ School and it’s legacy schools for 20 years, pursuing a career which I am passionate about. Emotionally it has not been an easy journey. I am indebted to my family and friends for giving me the self-confidence to see this through and for their continued encouragement and support throughout this time.” 3PB Barristers were instructed in this appeal by Hopkins Solicitors LLP to act on behalf of clarinet and saxophone teacher Mrs Lesley Brazel, who teaches at the independent Bedford Girls’ School run by the Harpur Trust. She was supported over several years of legal action by the Incorporated Society of Musicians (ISM) and ARAG who provide legal expenses insurance to the ISM’s members. Mathew Gullick QC of 3PB said: “This judgment gives clarity on the method of calculating holiday pay for people in Mrs Brazel’s position working on permanent ‘zero-hours’ contracts and who are not required to work every week of the leave year. The judgment will be of particular interest to term-time workers at schools, colleges and universities, as well as many other types of workers whose working patterns do not fit the traditional ‘full-time’ model.” Partner Carl Wright at Hopkins Solicitors said: “We are obviously delighted with both the outcome of the appeal and to have been able to clarify the law for the benefit of all of those workers who, like Mrs Brazel, work on term time only contracts. As a consequence of this decision, term time only workers will be entitled to the same minimum annual holiday as those that are contracted to work all year round.”

Six banks found to have broken CMA rules about accuracy of information

Six high street banks have broken rules imposed by the Competition and Markets Authority under the Retail Banking Market Investigation Order 2017. The banks found to have broken the rules are Bank of Ireland, Barclays, HSBC, Lloyds Banking Group, Metro Bank and NatWest. Under the Order, banks and building societies must follow strict rules about informing customers of their services – from showing correct interest rates for current accounts, using accurate promotional materials online and within branches, to accurately displaying the right locations and opening times. The breaches are:
  • Barclays failing to keep information on interest rates up to date for overdrafts on two of its webpages
  • HSBC failing to publish information about the maximum amount it can charge customers for overdrafts in all the places it should have done. It also showed out of date information relating to interest rates for business account overdrafts on one of its webpages
  • Lloyds Banking Group publishing incorrect service quality rankings relating to personal and business current accounts in leaflets and branch posters, which gave potential customers a misleading impression of its performance; and failing to keep information in relation to interest rates up to date for one of its overdrafts on one of its webpages
  • NatWest not updating records following branch and ATM closures. They also listed incorrect interest rates for small business loans when sharing information with independent price comparison tools
  • Bank of Ireland listing incorrect details of branch locations through Open Banking (after some had permanently closed) as well as wrong information about some current account charges. Tablet users were also not provided with a link to information on Bank of Ireland’s service quality via the banking app
  • Metro Bank overcharging 92 customers for entering an unarranged overdraft
All six banks have confirmed they are making changes to their operations to prevent further breaches – ranging from destroying out of date promotional materials, to updating internal checklists and retraining staff. Metro Bank have also refunded the customers affected. Adam Land, Senior Director at the CMA, said: “We all have a right to expect up to date and correct information when making important decisions about our finances. It’s therefore very disappointing that these 6 major banks have failed to uphold rules that have been in place for the last five years. “Customers have been let down, some of whom will receive refunds, so these high street names must get their act together. We will remain vigilant to ensure the rules are followed.”

Covid’s outdoor dining rules for the hospitality industry will become permanent next year

Temporary changes brought in to help pubs, cafes and restaurants take advantage of the warm weather and operate outside will be made permanent next year. Pubs, cafes and restaurants will be able take advantage of the warm weather and keep serving customers al fresco, thanks to steps the Department of Levelling Up, Housing and Communities has taken. Temporary changes brought in during COVID-19 which make it quicker, easier and cheaper for business to get a licence to serve food and drink on pavements and pedestrianised roads have been extended. The extension will continue until the changes are made permanent in the spring. The change was first introduced to help businesses keep operating during the pandemic and was widely welcomed by the public, café owners and pub landlords. The government will make these changes permanent in the Levelling Up and Regeneration Bill. Today’s announcement will make sure that businesses can keep operating outside by extending the temporary provisions that were due to expire in September, before the permanent changes become law. Secretary of State for Levelling Up, Housing and Communities Greg Clark said: “We want to see bustling town centres across the country and that’s why the changes we made to licensing rules will become permanent.

“Making al fresco dining a permanent fixture on our high streets is part of our plan to level up communities and create vibrant places people want to live and work.”

Yorkshire kitchen worktop retailer targets further growth following £150,000 funding deal

A Yorkshire-based kitchen worktop retailer is targeting further growth after agreeing an additional £150,000 funding deal with Reward Finance Group. Gemini Worktops, based near York, is one of the UK’s largest suppliers of quartz and solid surface kitchen worktops and has an existing working capital facility with Reward. Earlier this year the company opened a new showroom at its Mason’s Yard HQ to complement its online business. This is equipped with innovative workspaces that can be used by professional interior designers, architects, builders and developers as a meeting place with clients. Key to the next stage of Gemini’s growth is investment in stock to ensure it can meet growing demand, which is where the additional funding from Reward Finance Group, via its Business Finance product, is primarily set to help. In addition to boosting its work surface stocks, the funding will also support the growth plans for Gemini’s sister company Mindful Memorials. This business provides memorials of all kinds to customers via its network of eight branches across Yorkshire, with all products designed and made at its York masonry yard. Commenting on the new funding deal, Gemini Worktops’ co-owner Matt Rotherham said: “The funding facility provided by Reward Finance Group is tremendous for our business at this point, enabling us to fulfil our growth ambitions and capitalise on the opportunities we see. Being able to invest in stock is key to this, removing a potential barrier to growth, and helping us navigate the well-publicised global supply chain issues that all manufacturers are facing. “Reward’s flexible approach is refreshing in our experience of working with finance providers, giving us a facility that means we can tap into funds as and when we require. Chris Ibbetson and the team there took time to understand the seasonality and short-term challenges that a business like ours can face and quickly provided a practical solution that will benefit us in so many ways, including being able to continue creating new skilled job opportunities.” Chris Ibbetson, relationship manager at Reward Finance Group, added: “Our Business Finance solution is ideal for companies like Gemini whose long-term growth plans can be held back due to short-term issues such as stock availability. Building strong relationships with our clients allows us to get close to their business and their ambitions and we are always delighted when we are able to provide additional funding to support them with their plans. We look forward to seeing the company grow as the Gemini Worktops and Mindful Memorials brands develop.”

Ex-HSBC senior leader appointed chief operating officer at rradar

rradar, the litigation and commercial law firm which specialises in digital and insurance innovation, has appointed ex-HSBC executive Richard Crabb as chief operating officer. This is the latest in a raft of high-profile hires by the Hull-based firm. Richard will be in charge of the strategic and operational delivery of the legal teams, together with corporate governance and change management functions for rradar, with a focus on delivering an integrated service model. Reporting directly to rradar’s CEO Gary Gallen, Richard will be a key member of rradar’s senior leadership team. Gary Gallen said: “I am delighted to welcome Richard to rradar in another key appointment for the business. Coming from the multinational banking and financial services organisation, HSBC, Richard brings significant legal and commercial leadership experience and expertise to rradar. “He has a clear understanding of how to drive efficiencies across an integrated service delivery model, having led the implementation of technology, best-practice legal, compliance and risk management processes. “Once again, rradar’s pioneering and proven history of growth has attracted a top global talent, which will ultimately enable us to maximise our performance, deliver growth and ensure that we achieve our short and long-term objectives.” During his 10-year tenure at HSBC Bank, Richard held several senior executive posts, including global head of commercial, tech and innovation. In this role, he was responsible for the development and implementation of HSBC Bank’s commercial and innovation strategies for its Global Legal Function – working with 1,200 lawyers and business professionals in over 34 countries. Richard is known for his transformative approach to cost management and resource allocation, driving efficiency and a high-performing culture. His experience includes directing complex technology implementations, driving legal best practice, and the management of compliance and risk. Before joining HSBC, he was partner, corporate and commercial at McCormick’s Solicitors in Harrogate, where he was ranked by Legal 500 as a leading legal advisor in both Charities and Sports Law. Richard commented: “I’m delighted to have joined rradar at such a pivotal juncture. We have an incredible journey ahead of us, expanding and growing our legal services business with a key focus on driving our private legal services capabilities and offering, including our training and consultancy services. “My priority is optimising efficiency and service quality through collaborative leadership and by implementing first-class processes. “Driving performance across our insurance legal services business for our clients and partners remains at our core, and you can expect continuous innovation and new developments.” Richard is the latest in a string of high-profile leadership appointments at rradar, alongside chief technology officer Andy Clarke and commercial director Richard Sheridan, as well as non-executive directors, Kieran Rigby, and Jeremy Cohen, who were recently elected to rradar’s expanding board.

First stage of ambitious Wakefield city centre plan underway

Ambitious plans to enhance the Cathedral Precinct area of Wakefield are getting underway. The overall plan would see the creation of a premier space for entertainment and festivals, new facades for buildings on Bread Street and opportunities for food and drink businesses to be developed over the next three years, if full funding is agreed. The first stage of the work has begun with shops and businesses with front or rear-facing façades along Bread Street being offered grants to create new façades that would complement the Wakefield Cathedral conservation area. The next stages of the plans are awaiting final confirmation of funding from the Towns Fund. If monies are granted, the second phase would see vacant buildings at the end of Bread Street removed in 2024 to recreate the early 19th-century vista of the Cathedral. The third phase will be hugely transformational with a new flexible multi-use entertainment area with seating, lighting and trees created to become the premier outdoor venue in the city for hosting open-air events, festivals and other family entertainment. Cllr Darren Byford, cabinet member for regeneration, said: “These plans will completely change the look and feel of Wakefield City Centre, the new building frontages with look amazing and will improve the look of our historic buildings. “Once Government confirms the funding, we will be able to make a start in transforming the area. Putting the Cathedral Square and surrounding streets at the heart of the City Centre will give us the space to bring entertainment and events to Wakefield, giving residents, visitors and businesses more reasons to be here in our city.” Chair of Wakefield High Street Task Force, Cormac Hamilton, said: “It is very positive to see this imaginative project is getting underway. It will bring people together and will enhance our city centre and strengthen our offer as a great place for residents, businesses and visitors to experience and to enjoy.” When completed in 2025, it would link in with the pedestrianised southern section of Wood Street and Cross Square with its wider pavements and new gardens becoming a place that prioritises the environment for people. In delivering the Wakefield Masterplan, Wakefield Council aims to grow the local economy, make the city more attractive to new businesses, inviting to visitors and create more jobs for local people.