With another week commencing in what's proven to be a tough time for many people, we are extremely proud of the Servca team for continuing to add value to our brokers.
Pat was approached by one of our brokers looking for terms for a recruitment agency, who specialise in the placement of teachers. We had a very tight timeline and premium to beat. That said, we could secure terms in less than 24 hours and bind cover within 48 hours. Not only managing to obtain & bind terms swiftly and provide coverage which we more extensive than those offered elsewhere but at a slightly keener premium.
Following the placement made by Pat for their PI insurance after carefully reviewing their current programme and providing a solution which others couldn't, Servca were then approached by the same broker looking for a solution for a global contractors all risks and works programme for an electrical and building contracting firm specialise in UK embassy's across the world. Macauley built a policy catering for all contracts, including Russia, Mauritius, and Angola. It was a dream team placement really made by Pat and Macauley; I've heard their names are being framed in Lloyd's for this one?
Josh, who is in month 2, is always showing how his past can add value to his broke; he placed a complicated new start-up misc risk which included Decision Modelling, RWE & Data Analytics, Review & Evidence Synthesis, and market access – we managed to secure very competitive terms with everything the client needed (the US, cyber, PI) – took nearly 100 emails…. This shows dedication, right?
At the start of the month, Macauley was approached by a broker of ours looking for PI terms for a 10mil line for a large steel supply and fabrication and an additional subsidiary that undertakes the group's contracting and installation. After two Lloyd's brokers could place a competitive 5mil and 10mil line, Servca secured a 5mil line for the contracting arm and a 10mil line for the supply arm, which was coinsured with 5 insurers.
Josh continued to show his worth by placing terms for a 2mil primary and a 3x2 layer for a civil and structural engineering firm; the renewal terms from the composite showed a 100% increase with a limit reduction from 5 to 2mil- Josh placed a 5mil for the same price as the 2mil renewal invite!
All-round, it's been a solid month for the team with our liability facility also flying with terms being supply within 1 hour on Friday for PL/EL/XOL and CAR for a precision engineering firm which was bound by 6 pm, terms provided for a large online retailer of household goods and several other quirky contracting risks which our brokers have been struggling with. As well as an online retailer of luxury shoe sprays, luxury household cleaning products, and PPE.
Edwin has also been kept busy as always supplying terms for care homes, life science-related product risks, and other professions in the Medical Malpractice space.
All around, it's been a great month, and we are very grateful and overwhelmed by the support we are receiving. Thank you to our frequent supporters!