I'm Phil and I'm here to highlight some examples of the kind of insurance solutions that we have helped our clients with.
When is a claim not a claim - when we are not involved!
A motorcycle dealer had a Motor Trade Policy with a reputable insurer through another broker
which was due for renewal in October. He had a couple of motorcycles stolen
from outside his premises in January but the claim was repudiated (thrown out)
by his insurers for no apparent reason.
The client contacted us and, after looking at his policy wording, we confirmed that we felt that his claim was covered and agreed to take this up with his insurers on his behalf. He transferred his existing Motor Trade Policy to us and within 24 hours got a phone call from his insurers to confirm that they were now going to deal with his claim and apologising for their previous handling of his claim.
More cover at less cost
A tubular steel stockholder with a turnover of £7,000,000 approached us concerning their insurances. As part of their business they import steel from the Far East.
We identified that their existing arrangements failed to cover them adequately against losses for stock whilst in transit and purely relied on the Transit insurance provided by the shipping companies & freight forwarders. We identified this as a significant problem should a claim arise.
We were able to provide full Marine Transit cover on the client's stock in transit anywhere in the World whilst reducing their total insurance costs from £40,000 to £28,000.
WCIB do it again!
We were invited to quote for a Poultry & Cooked Meats supplier with a turnover of over £5,000,000.
We examined the existing insurance programme in detail & found that the existing Insurers & Brokers had failed to insure the Contents in the Clients Cash & Carry premises.
As these Contents included all the Chiller Cabinets & Computerised Tills a Fire or other loss at the premises would have resulted in a large uninsured loss for the client.
Walmsleys were able to plug this hole in the client's cover & still reduce their overall Premium spend from £9,000 to £7,500.
Low limits could have been disastrous
This growing company based near Blackburn with a turnover of around £4,000,000 are one of the UK's largest suppliers of high quality wooden street furniture to local councils in England & Wales.
We closely examined their existing insurance arrangements and found that the Public Liability limit of indemnity was way below the limit required by Local Government leaving them potentially exposed and in breach of contract.
We were able to increase the Public & Products Liability limit of indemnity limit to the required level whilst still managing to reduce their premium spend from a
whopping £20,000 to £11,250.
S for Service
We received an enquiry for a 60 vehicle fleet where the client was very unhappy with the existing broker's service. The existing broker did not do a pre-renewal visit and only telephoned the client 2 days before renewal of the fleet with a sizeable premium increase. The client also had some queries regarding the broker's remuneration which had not been satisfactorily answered.
Although we were too late to carry out a re-marketing exercise on this case, we did actually believe that the client was with the right insurer; he just had the wrong broker. We discussed the details with the client and managed to obtain a £5,000 refund for them from the existing broker in relation to their fee.
The client has since transferred his policy to our agency and is very pleased with the level of service that he is now getting. He is also in process of transferring his Commercial Combined Policy to us as well which pays a premium in excess of £100,000.