Liability with multiple business activities

DIFFICULT. DONE WELL.

As the hard market continues and capacity tightens, Lloyd’s brokers with the right expertise can work with you to find solutions for your hard-to-place risks. Read our case study on how we secured Liability cover for a Broker Partner running out of options with a difficult risk:

The Risk

We were approached by a Broker Partner looking for Liability cover for their Marine client. The broker was struggling to find a quote due to:

• Multiple business activities – they were Trawler Owners, Marine Engineers, Oil Distributors, Fish Salesman, Fish and Ice Merchants, Fish Exporters, Auctioneers, Retail Fish Merchants, Property Owners and offered Crane Hire with Drivers
• A late appointment of the Broker
• The trade being outside the usual appetite of Insurers
• Poor claims experience
• And a previous broker already covering the Market, closing off most of the already limited options

Due to the above conditions, the initial wholesale broker had come back with no solutions for the risk, resulting in the Broker Partner having no options for the client and even less time to find a solution.

The Approach

We worked closely with the broker to understand the risk further and put a strong presentation together. Our specialist teams then worked diligently with Insurers they knew would be open to the risk.

The Result

Through our strong relationship with one of our carefully selected Insurers, we managed to secure a quote. This was the only quote in the market that would cover the wide range of business activities, allowing the Broker Partner to continue to serve their client.

Save time with your hard-to-place risks; avoid going round the houses and come directly to Miles Smith. Talk to our specialists

#DifficultDoneWell