Flood prevention

In the past, Bangkok has been notorious for regular destructive floods. Of course, for a city which has been called the Venice of the East and which is said to be sinking at a rate of several centimetres per year the possibility of flooding is widely accepted by both insurer and insured.

But floods can be highly destructive as demonstrated by the 1986 and 1995 Bangkok floods, and in 2011 when almost the whole of Thailand suffered its worst ever flood, with damage, insured and uninsured, estimated to have cost several billions of US dollars.

Even if you are insured, the damage suffered in a serious flood can have disastrous consequences for […]

The real cost of a cyber security breach

In an earlier post, we advised that the average loss for a large company resulting from a cyber security breach cost around $5.9 million, or roughly Baht 185 million.

On average, a Poneman Institute study found that, in the US, a data breach resulted in around 29,000 compromised data records with an approximate cost of about Baht 6,400 (US 201) per record.

The study also found that the most costly and damaging element of a data breach was the loss of a company’s reputation and the loss of customer loyalty. The costs of being hacked often surpassed the actual cost of remedying the cause/s of the cyber security breach itself and is illustrated with this table showing […]

Cyber Security Insurance

According to a PricewaterhouseCoopers survey, in 2013 the number of cyber security incidents globally soared to 42.8 million, up 48 percent from 2012, while the average loss for a large company rose from $3.9 million to $5.9 million. Companies that have seen recent, major cyber breaches include Target, Home Depot Inc., Neiman Marcus and JP Morgan Chase & Co.

To help understand the scale of these breaches, the Target incident saw the debit and credit cards of 40 million customers stolen as well as the PIN numbers, e-mails, and addresses of 70 million people.  A number of class action lawsuits have been brought against Target with some analysts anticipating the Target […]

Trafalgar International

About ourselves
For 25 years Trafalgar International has helped clients manage risk and on their behalf has placed insurance programmes for property, business interruption, liability, construction, engineering and employee benefits.

Although we are Thailand based, as a partner firm in Assurex Global, the world’s largest independent broking group, we are able to provide our clients with the same high standard of insurance service across the globe, through our network of 600 offices in almost 100 countries, while handing premium volume of around 29 billion dollars.

This brief video outlines a little more about about ourselves.

As insurance brokers, our responsibility is to you, our client. Essentially we act as your insurance department, identifying and transferring […]

Business Interruption Insurance

Owners and shareholders invest in a business hoping for a return on their investment by way of profit and dividend. It is only natural, therefore, to expect to see this investment protected by way of insurance.

Typically this has meant that the business purchases property insurance on buildings and contents, machinery and stock. Should an unforeseen event occur, such as a fire, storm or earthquake damaging the property insured, then the insurance would meet the cost of making good the insured damage such that the business can continue in operation.

However, what many businesses, even today, have failed to protect is the loss or reduction of income that will have occurred in […]

WHAT TO DO in a motor accident in Thailand – part 2

What to do in the event of a motor accident in Thailand – Part 2.

In Part 1 we explained how the Knock for Knock agreement can potentially save you time if you are involved in a motor accident. In this second part of our report we examine the situation where the Knock for Knock agreement is not applicable or cannot be used.

In the event of an accident, please try not to panic, remain calm and keep safe.  Make sure nobody is injured and try to move everyone to a safe location.  If there are injured parties, call the emergency services.  If you suspect that there are injuries to someone’s back […]