Scrap metal new venture

In April 2020, a regional broker partner had a difficult risk to place for a new venture scrap metal business looking for specialist motor cover.

Placement of new ventures risks are particularly difficult due to the lack of claims history, but as a result of our excellent binder and reliable relationships, we were able to use a combination of the two to approve our offering and turn a CCQ around in a few days.

Over the next 9 months, the customer organised operating licences and established the business and last month we were advised that the customer was ready to get started.

Our delegated capability along with our unique relationship with the chosen insurer enabled us to provide this solution and keep it alive for the time it took the customer to be ready for cover, the papers of which others would have probably filed long before.

Do you have a particular risk you are struggling to place? Talk to our specialists or find out more about our Motor placement options:

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