Their existing Broker had provided a renewal statement which simply suggested that they renew the existing plan for an annual premium in excess of £60,000.
Russell at Mathews Comfort met with the firm and discussed the circumstances of the business. He then drew their attention to one or two specialist insurance companies that we work closely with and advised that they could offer a more bespoke and tailored proposition that would fit with their business model.
We then approached two firms and discussed what they could offer this business and after detailed discussions and negotiation by Mathews Comfort, we were able to offer the firm a more robust Insurance Program which supported not only the business with more cover but also the key Directors within it.
Furthermore, we were able to reduce the premiums by over 25% to less than £45,000.
The plan was set up on a Long Term Agreement of three years. This allowed the firm to have the security of knowing that this was not just a one off deal along with reassurance from Mathews Comfort that during the three year Program their continued knowledge of the market and insurers would still play a major factor in ensuring policies are kept to the highest standard.
Our knowledge of the Insurance market and our understanding of our client’s circumstances ensured that we found a proposition that fitted their circumstances.