Our Monthly #QotW Summary – May 2022
Looking back at QotWs and BIBA in May, it was great to actually meet Duncan who allowed us to use his words for QotW and introduce him to members of our PI team in Manchester. Fair to say that BIBA was a roaring success, and it was great to meet up with so many brokers and partners across the three days. Relationships and communication are essential for wholesale broking, and whilst QotW maybe a bit of fun, communicating the appetite of the London Markets hopefully means we see more of what we can do and less of what we can’t.
If you’d like to know more about our appetite, then please get in touch!
Fighting off the competition for our brokers this week in QotW. Compass London Market’s fleet team were under stiff competition this week when the holding insurer declined to invite renewal on a risk. Alternatives were sought with a competing broker picking up terms we had secured from the market and netting back commission. Compass London Market’s fleet gurus had one more trick up their sleeve and negotiated an exclusive deal that was more competitive than alternatives and afforded full commission to our broker.
Client happy. Broker happy. Job done!
Another scheduled risk in QotW for Compass London Market Risk this week.
We were asked to place a large unoccupied industrial property with a Total Sum Insured in excess of £13m. The insured planned to occupy the site as their main production facility for mineral exploration and extraction but for now needed to insure the unoccupied property. Compass’s Property team explored the market to extract an excellent price for the client spread over four different insurers.
An unusual one for the Fleet team for QotW this week.
Non-standard vehicles can sometimes be tricky, but not for Compass London Markets who were asked to look at a mixed fleet made up of vans and milk floats. No skimming on the market exercise meant Compass London Markets delivered a solution that saved the client money and secured the business.
For this week’s QotW we have some words of praise from Duncan at Macbeth Scott for the Professional Indemnity team.
“I was very impressed with the most efficient manner in which Nicola Field sorted out a rather difficult P.I. risk that previous insurers had taken out important covers for client’s protection. That combined with a competitive premium was well received by us and client.”
Thanks Duncan, glad we could assist!