Comprehensive Liability cover for clients operating in high-risk industries

DIFFICULT. DONE WELL.

Could we help you win new clients?

We understand the hurdles of winning a new client as a retail broker, particularly with challenging classes and industries. Read our case study to find out how our New Business team recently helped place cover for two roofer clients.

The risk

Following the launch of our new High-risk Liability facility, Miles Smith was able to support broker partners with risks in this challenging and often complex area. Among these was a significant risk posed by a pair of sister companies with a combined turnover exceeding £15 million.

Upon being approached by their holding broker, it became evident that there was an opportunity to engage with these clients. With no year-end declaration at renewal and a client motivated to economise in the prevailing financial climate, it was an opportune moment to add them to our portfolio.

The approach

Leveraging our strong rapport with all four A-rated insurers on our facility, we embarked on negotiations to deliver substantial cost savings on the clients’ current insurance expenses. Our approach involved both direct reductions in premiums and indirect savings. By offering comprehensive £10 million Employers' Liability and Public Liability cover, we eliminated the necessity for the client to seek additional excess layers, thereby reducing their overall expenditure.

Furthermore, our strategy focused on the strength of our policy wording. Our standard terms featured no height limit and excluded no hazardous locations, setting us apart from competitors. This not only strengthened our competitiveness but also provided the client with a superior level of coverage.

The result

Ultimately, our efforts proved successful in securing the business against formidable offerings from other market players. Despite facing strong competition, our ability to deliver competitive terms, coupled with the robustness of our policy wording, positioned us as the preferred choice for the client.

By establishing a relationship with these sister companies, we demonstrated our capacity to adapt and deliver tailored solutions in a dynamic market environment. This case exemplifies Miles Smith’s commitment to providing comprehensive coverage, cost-effective solutions and outstanding service to our clients.

Difficult. Done well.

Do you have a new client you are trying to win in one of our specialist areas? Contact a member of our Broker Relationship Management team.

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