Monthly Summary #QotW – July 2021
“We were asked to assist a broker in this week’s QotW with contractor’s insurance that they already held. The business was placed into London, but there were several other brokers in the chain all taking a slice of commissions and fees and ultimately making the placement not cost effective for the broker nor the client. We investigated the covers and with direct access to underwriters made savings for the client and a more direct route to market.
Who said you would never break the chain? ”
“As summer’s here and staycations are the norm who doesn’t like a road trip?
We helped out in this regard with a quotation for a new self-drive hire business specialising in Campervans. We approached a specialist underwriter in the London Market who provided competitive terms to get the client up and running and out on the road.
“We have had a lot of fun with this week’s quote of the week for an aerosol manufacturer. Markets were nervous, but our supporting broker was ahead of the game and a pre cover survey allowed underwriters to fully consider the risk and allowed us to schedule out the placement with a number of insurers. Complex property placements seem to be the norm right now and having access to markets is what we do.”
“It’s always a challenge for a growing business to step up from an NCB rated motor policy to a full Motor Fleet placement and options are few and far between.
This week our fleet team came up with the goods for a haulage risk that needed to go on to a fleet basis and include European cover. We sourced a quotation from a specialist A rated London Market underwriter who were the only ones to put forward terms and leave the client well placed to grow his business.”
“Sometimes the challenges presented to our team aren’t directly related to a client’s business activities or the insurance required.
We were approached by a utility contractor where one of the directors had a spent criminal conviction. Most insurers had declined to quote because of this, but our construction experts negotiated terms with an A rated Lloyds underwriter backed lineslip and cover was arranged. ”
Please download as a PDF by clicking here.