Working together to secure specialist cover for a construction materials supplier

Solution

After the initial meeting at the client’s business premises, Matt was convinced that the insurance programme could and should be with a composite insurer and questioned why the incumbent broker was unable to negotiate terms.

Matt assembled a detailed presentation for their risk and during weekly insurer clinics met with and explained the business in detail, highlighting the positive risk factors to underwriters. Having established that three of our insurer partners were keen to work on the project, Matt obtained a client letter authorising exclusivity to negotiate with these markets and began to tailor a business insurance programme for the client.

Outcome

Matt arranged a pre-cover survey with the underwriters and by further highlighting our understanding, he was able to secure terms that not only reduced the client’s excess, but also widened the cover and delivered a premium saving of c.30%.

Crucially, Matt was able to recommend an ‘A-rated’, stable and secure composite insurer partner, highlighting the importance of solid relationships with our insurer partners, and taking the time to understand and illustrate the business.