Our Monthly #QotW Summary – February 2023
February QotWs seem like an age ago now, which reflects how busy March has actually been I suspect.
In the lead up to the Bravo Conference we saw a lot of success as a result of the changing Motor Fleet market, and we received some excellent feedback about our service from a number of brokers at a time when the composites were hiking rates. How long the fleet market will be like this remains to be seen.
Ultimately the first quarter of the year sets out the trends for pricing and appetite for the year, and it was great to be able to talk about this at the Bravo Conference and give Network members an overview of what to expect from Lloyd’s and the London Markets throughout 2023. Hopefully those attending the seminars found them useful, and both Steve Whetham and I are more than happy to visit any broker to run through that presentation again. Being able to communicate what the insurance market is doing to clients should hopefully assist when it comes to delivering pricing to them.
This week sees the full Lloyd’s results for 2022 published, and I’ll reflect on those next month. For now, a look
back at some of those successes from February!
Another contracting win for Compass London Markets for this week’s #QotW.
Numerous insurers can write liability coverage for Electrical Contractors, but very few can cover hazardous locations. Our Liability team was asked to look at one such contractor who specialised in offshore installations and quickly came up with a solution where others had left the insured all at sea!
A nice win for the Motor Fleet team at Compass London Markets this week.
A supporting broker had a fleet policy that had rapidly outgrown an online system and needed to replace cover urgently. The Compass Fleet team covered the London Market and came up with a price that secured the risk and bettered the local and composite markets.
Something slightly different for #QotW this week with a nice win for our Contingency team.
We were asked to look at cover for a Charity that organises sporting events to raise money. They were looking for cover for Event Cancellation, Adverse Weather, Terrorism and National Mourning and had the added challenge of previous claims.
Nothing too tough for Compass London Markets who arranged cover off of our facility with an A rated London Market underwriter.
A great win for the fleet team at Compass London Markets for #QotW.
We were asked to set up a fleet policy for a client who previously had two separate policies – one for 2 HGVs and one for their vans. The existing policy didn’t include cover for Hire and Reward so technically some of their activities weren’t insured. Compass arranged one policy to cover all the vehicles, on the correct basis, with a blue-chip insurer, leaving the client properly covered with one policy suitable to protect a growing business.