Find answers to our commonly asked questions below.
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FREQUENTLY ASKED QUESTIONS.
Our unique approach lies in how we operate, support our clients, and invest in our team. We take the time to understand the specific nuances of each client's business and leverage our specialist knowledge and extensive market relationships to develop customised insurance solutions. This personalised approach ensures that our clients receive the most effective protection for their individual needs.
During the consultation, our team will engage with you to gain a deep understanding of your business and its unique challenges. We will then utilise our specialist knowledge to identify potential risks and recommend tailored insurance solutions. This collaborative process ensures that you receive comprehensive coverage tailored to your specific needs.
Our specialist team conduct a thorough assessment of your business to understand its unique risks and requirements. By collaborating with you, we gain insights into your business operations and objectives, enabling us to craft a tailored insurance solution that provides optimal coverage and risk management.
We invest in continuous professional development for our team, fostering an environment of learning and excellence. This commitment to growth ensures that our experts remain at the forefront of industry knowledge and best practices, allowing us to deliver superior service to our clients.
We can cover your holiday homes across the world, with no limits on location. Our expert team will work with you to understand the area your holiday home is located, before crafting bespoke cover to ensure robust protection.
Yes, of course. When working with a high-net-worth individual, we will carry out a thorough appraisal of all your contents, whether that is a fine art collection or prestige cars. We will then craft a bespoke policy that is tailored to your requirements and protects all your contents.
We can work with you in a range of different ways, via the phone, email, video call or by visiting your site. We can tailor our approach to suit your individual needs and requirements.
We work with all types of trades across a multitude of industry sectors. Please call us to discuss your specific needs and our expert team will be happy to assist.
Our head office is in the City of London, the address is:
The St Botolph Building
138 Houndsditch
London
EC3A 7AW
Our specialist policies for high-net-worth individuals are provided by A+ rated insurers, ensuring robust cover, worldwide, with no restrictions.
Our specialist team conduct a thorough assessment of your business to understand its unique risks and requirements. By collaborating with you, we gain insights into your business operations and objectives, enabling us to craft a tailored insurance solution that provides optimal coverage and risk management.
We work with all types of trades across a multitude of industry sectors. Please call us to discuss your specific needs and our expert team will be happy to assist.
We can cover your holiday homes across the world, with no limits on location. Our expert team will work with you to understand the area your holiday home is located, before crafting bespoke cover to ensure robust protection.
All insurers need to know about any building works before they commence at your property. We would need to gather information surrounding any JCT contract signed, including whether the occupant has or has not moved out for the duration of the build, the total value of the work, the expected duration, and a description of what the work entails. Our team will then liaise with the insurer and advise next steps to provide options to ensure both the existing structure and the contracted works are covered.
When new jewellery is added to a collection through purchase, gifts, or inheritance during a policy year, we should be notified of the description and value of the item to ensure it is covered adequately. If the item exceeds the single article limit of the policy, we will then need proof of purchase or a recent valuation.
To ensure the values are up to date on the schedule, and to avoid disappointment in the event of a claim, most insurers require valuations every 3 years for jewellery and watches.
Yes of course. We will carry out a thorough appraisal of all your contents, whether that is a fine art collection or prestige cars, before crafting a bespoke policy that is tailored to your requirements and protects all your contents.
Our specialist policies for high-net-worth individuals are provided by A+ rated insurers, ensuring robust cover, worldwide, with no restrictions.
As a specialist broker for Private Clients, we have access to high-net-worth markets which are not available direct, or through comparison websites. We can provide a unique risk appraisal and audit your current policy documents to find a tailored policy to suit your specific needs.
We are also able to put you in touch with specialist third parties, who can assist with jewellery valuations, rebuild cost valuations, security upgrades, flood defences and more.
All our private client insurers can provide cover for your portfolio, this means that we can arrange one policy to cover your main home, second homes, holiday homes, travel, and motor policies.
We can cover your holiday homes across the world, with no limits on location. Our expert team will work with you to understand the area your holiday home is located, before crafting bespoke cover to ensure robust protection.
Our head office is in the City of London, the address is:
The St Botolph Building
138 Houndsditch
London
EC3A 7AW
Our specialist policies for high-net-worth individuals are provided by A+ rated insurers, ensuring robust cover, worldwide, with no restrictions.
There are no specific requirements for unoccupied properties in the first year of cover. Should the property remain unoccupied at renewal of the policy, we will confirm any requirements.
If you discover unauthorised persons at the property you must inform us as soon as possible. We will then confirm if any additional terms apply. You must take all reasonable measures to remove any unauthorised persons from the property and inform us of progress on a weekly basis.
Insurers have accepted that you have made a Fair Presentation, as required by the Act, by answering the questions asked by Specialist Risk Insurance Solutions.
Insurers may ask supplementary questions or make further enquiries if they need more information.
If you become aware that the property is not secure and/or weatherproof you must inform us as soon as possible. We will then confirm if any additional terms apply.
If there any changes you must inform us as soon as possible. We will then confirm if any additional terms apply.
Terrorism cover is not included.
No. However, cover can be arranged if you are acting in a professional capacity on behalf of lay executors, guardians, attorneys or deputies.
If you do not have sufficient funds to pay the premium you can defer payment until the property is sold.
You can make a payment by BACS/CHAPS.
Our minimum premium is £150 plus Insurance Premium Tax.
Insurers will note the interest of any other party in the property on request.
A refund will be available in the event of mid-term cancellation, subject to no claims having occurred and the application of the minimum premium charge of £150 plus Insurance Premium Tax.
Contents cover at £50,000 is automatically included with the Buildings cover. It cannot be removed, nor can it be insured in isolation.
Trade Credit insurance provides cover for risks going forwards and there is always the risk of a bad debt. With any insurance, the trick is to consider it before the event rather than after.
Trade Credit insurance is a highly cost-effective way to replace a bad debt reserve and to free up cash that can be put to much better use in your business.
In general terms, a Trade Credit insurance policy provides cover in circumstances where your client is unable to pay. That will most often be insolvency but may also include other financial difficulties.
The price is dependent on a variety of factors, including the nature of your business, the quality of your credit management processes, and the strength of your customers. At Specialist Risk Group, we strive to arrange the most suitable Trade Credit solution for your business, at a competitive rate.
As soon as you know your customer has become insolvent or is unable to pay, you should contact our Trade Credit team and we will see you through the claims process. You will typically receive 90% of the value of the insured debt. Claims will usually be settled within 30-60 days of the claim and supporting documents being submitted depending on the value/ complexity of the claim. We have settled claims in less than 48 hours before!
Any company can get into financial difficulty and any company can become insolvent. Some companies are better credit risks than others and the price of Trade Credit insurance reflects the risk in your debtor ledger – lower risk means lower premiums.
Insuring trade debtors is insuring a moving target – the information on every company will change during a 12-month period and insurers will continually review all information, as would uninsured companies.
Insured credit limits may decrease or increase in the light of this information and any goods or services provided with credit insurance in place remain insured until those goods or services have been paid for. Where goods and services were covered, Trade Credit cover can never be taken away, only future orders will not be covered.
Invoice finance is a funding solution, which may include Trade Credit insurance (or debtor protection). This exclusive debtor protection may well be aimed at looking after the funder’s interests and not the client’s interest. It’s always worth looking at a separate Trade Credit insurance policy.
