Is your insurance well structured?
What does the review include?
Insurance costs are a significant slice of turnover; you demand value for money. We believe we are in a better position to get it for you than many of our competitors.
We assess six key factors:
1. Structure of indemnity limit & excess layers
2. Excess/Self-insured retention levels and structure
3. Policy coverage enhancements
4. Premium rate in comparison to your risk profile
5. Alternative insurers
6. Proposed renewal strategy
What do we need from you?
1. Most recently completed proposal form
2. Any accessible claims information
3. Copy of policy wording
Why would I do that?
The stigma of ‘all brokers do the same’ is something of a misnomer.
When managed properly, utilising the services of more than one broker at renewal can be a valuable way to ensure that premiums remain competitive and that policy coverage remains sufficiently wide to cover any new exposures. Engaging a second broker will also allow you to assess the service proposition of your incumbent and at the very least, will give you the opportunity to start building a relationship with a ‘number two’ who could step in if things ever became problematic.
Been with your broker for many years?
You might be paying more than you’d like and the coverage on your policy might not be the widest. But they are the devil you know’ and whilst you may not know them that well, you are comfortable. We get that, but with the PI market hardening, there is a strong chance that switch to a broker who genuinely specialises in your industry can improve on what you have.
Please contact us and confidentially discuss their PI insurance arrangements with no obligation to pursue our services any further.
This review does not extend to us speaking with insurers unless we have strict authority to do so and is based on our professional thoughts and observations only.