When our motor wording for the waste industry was first developed over 30-years ago, our specialists worked with key players in the industry to ensure the cover we provided met their unique requirements. Since then, we have continuously worked with the waste industry to ensure waste businesses’ needs are met. Combined with the expertise in our teams, we know how to handle these risks to produce the best outcome for your client.
This is particularly clear in the current market conditions, where many insurers are either backing out or increasing premiums across a range of product lines. As a Lloyd’s broker with highly specialised schemes and facilities, we have the tools to help you place these specialist risks. Find out how our waste facility helped provide a better policy for the Insured, at a lower cost:
Our broker partner was working on a renewal with a skip hire business and had previously placed the risk with a large, multinational insurer. To renew, the insurer wanted a large rate increase, even though the Insured had invested a substantial amount in cameras and telematics to try to secure a reasonable quote.
By using our waste scheme, we were able to place the risk for the broker partner with not only a saving compared to the previous insurer, but an agreement to provide a further rebate to contribute towards the technology outlay if the telematics showed safe driving.
The policy was far superior than previously offered by the composite. It met the needs of the business more closely and offered increased TPPD limits, unique convicted drivers’ clause, inclusion of working risks, and other benefits.
To top it off, we were able to offer interest-free instalments for the broker partner’s client, which was greatly appreciated in the uncertain year businesses have had.
Do you have a waste and recycling motor risk you could use a specialist product and team to help place? Find out about our waste and recycling facility or take a look at our other schemes and facilities.