After a busy week here at Servca, we really have proven how we can add value to our clients and brokers.
With our three core areas being and companies' focus areas being Medical Malpractice & Healthcare, Professional Indemnity, and Financial Institutions, due to our expertise and specialism, we can place those risks that others can't.
Our team carries a wealth of experience and some excellent market relationships. A few of the team also have worked in prior roles for specialist and corporate brokers; this allows us to assist with Commercial Combined's, Contractors Combined's, General Liability, Right of Light, Restrictive Covenant, and Property Insurance.
A professional indemnity proposal for a large D&C risk was received to Servca at 2 pm Monday; the insured was unhappy with the incumbent insurer's fire safety exclusion.
Servca were able to provide terms within 24 hours with an improved fire safety condition, whilst also improving the cover basis from aggregate to anyone claim and making savings on the premium, the cover was bound, and the risk was secure by Wednesday morning."
Servca was approached early in the week by one of our partners in Canada by a new start Nutraceuticals startup; after months of research and work, they are soon launching products to the market that have been produced to light up the sector. The products' key components to differentiate them from their competitors with the health benefits are Scorpion Venom and Hemp oil. Servca provided terms for Liability terms within 36 hours and provided various options of Limits ranging from CAD $ 5Mil to CAD $ 20Mil with full worldwide coverage.
A Medical Indemnity proposal came in this week for a Distressed Gynaecologist. The risk was received at 3 pm on Tuesday with a renewal date of the next day.
Servca managed to secure terms within 2 hours of receiving the proposal forms, which were more competitive with better coverage than his previous terms. We were able to mitigate further risk for both the Doctor and the Insurers by implementing risk managing strategies robust patient disclaimer forms. The cover was bound and the risk was secured by close of business on Tuesday, in time for the renewal date, so the client was not left without cover.
Servca was approached by one of our Canadian brokers, struggling to place a heavily distressed engineer, which they were unable to obtain terms for several weeks. The reasons were that the insured had suffered multiple declines due to their claims history; however, we were able to quickly and efficiently place the insured (also with minimal exclusions). This was achieved within 36 hours. Given the current hard market, we can still provide an efficient service for our clients globally.
A client approached Servca with Contractors combined for a lift engineer, which suffered heavy losses and was refused renewal. Within 3 hours, we provided terms that provided greater coverage than their previous provider and to help our broker, who was stuck with nothing on the table.
Great week so far from the team, and we are all hungry to assist our clients and brokers more when needed.