Underwriting Philosophy
MORE INFORMATION:
Insurance requires the premiums of the many to pay for the losses of the unfortunate few.
Our target clients are those who do not wish to subside the avoidable losses of their less well run rivals.
We invite demonstrably well managed risks in an industry to join a pool of like-minded business owners: Clients who have a common interest in controlling the risks that they face.
It’s about helping well-managed risks find good quality insurance at affordable prices, in a stable rating environment.
The business down the road whose management cut corners, operate outdated practices and leave themselves wide open to claims are turned away.
We love an opportunity to meet a client to deepen our understanding whenever practical.
Risk Selection Approach
Our risk selection approach focuses on four key elements (S.A.M.I):
Source of Business. A broker who can and will describe the risk accurately. Who will advise on value over the cheapest price. We prefer to engage with the Broker who has visited the client and knows the risk first hand.
Adequacy of Premium (and payroll/turnover estimates). An unrealistic day one premium is a difficult renewal and an unhappy customer down the line. We don’t do it.
Management of the risk. Is the risk in suitable premises and is it well run? Help is available, after all no-ones perfect, but we do look for basic good practice to be in place.
Involvement. We like our clients to retain an interest in claims control via some level of self- insured retention.
Source of Business. A broker who can and will describe the risk accurately. Who will advise on value over the cheapest price. We prefer to engage with the Broker who has visited the client and knows the risk first hand.
Adequacy of Premium (and payroll/turnover estimates). An unrealistic day one premium is a difficult renewal and an unhappy customer down the line. We don’t do it.
Management of the risk. Is the risk in suitable premises and is it well run? Help is available, after all no-ones perfect, but we do look for basic good practice to be in place.
Involvement. We like our clients to retain an interest in claims control via some level of self- insured retention.