So here we are again, we find ourselves in the same predicament we were in back in Lockdown 1, Office workers behind our screens in the comfort of our homes and our construction workers and key workers out in the open, building our economy and fighting the virus.
It's been a busy few weeks and months, and we are grateful to our team for there hard work and grateful for the support from our underwriters and brokers; the combined effort really is helping us grow and show the market how we can add value, even in these tough times.
Last week we really did prove again how we can make the difficult easy, and here are a few case studies for risks we were able to secure terms on:
- Terms secured and placed for a GBP 5,000,000 over GBP 5,000,000 layer for a Civil Engineering and Groundworks who were struggling to secure terms due to the works being deemed 'High risk' and also due to a handful of small claims.
- PI/D&O/Cyber/PL/Excess PL and EL coverage for a new start Cable laying and groundworks firm who are leading the development of their own Broadband site.
- A Cosmetic clinic that specialises in fat dissolving procedures that have had claims about circa GBP 500,000 over a 4 year period, we were able to secure terms as well as introducing a risk management strategy that ensures that all patient consenting is optimised to ensure the premium can be reduced as well as the risk over the coming years.
- Terms provided within 2 hours of receiving the market submission for a Façade consultant.
- Cover secured and bound for an Architect who had been left in the dark by the holding broker and received a 10 fold premium increase a day before renewal, regardless of the claims history which held some large quantum's paid, thanks to the combined work of our sub-broker and the placing broker at Servca, we were able to provide competitive terms to allow the practice to continue trading.
- Liability terms for a Waste and Recycling Contractor.
- Our Medical Malpractice brokers were able to secure terms for a COVID testing service for a corporate film production and global organisation to allow the business to continue its operation and movies and TV services.
- Terms provided for various Mechanical and Electrical firms, one of which with a large turnover, Servca were able to continue to provide GBP 5,000,000 limits, and some of the risks were bound on an Any one Claim basis.
We are delighted with our producers' support and thrive off the good feedback we receive on our placements and service.
Get in touch to discuss how we can work with you and show you how to add value to your business in these tough and uncertain times!