Transforming High-Risk Challenges into Specialist Opportunity

The challenge

The scaffolding firm's insurance renewal was non-renewed by the incumbent insurer, who cited the ‘High Risk’ classification of the firm's operations as the reason. This put the firm in a difficult position, needing comprehensive coverage to continue their operations.

Client consultation

Upon reviewing the details, Servca identified that the so-called ‘High Risk’ nature of the firm's operations could actually be reframed as ‘Specialist Works’. This subtle but crucial reclassification would change the market's view of the risk associated with the firm's activities.

Approaching the Market

Servca took the initiative to broker the risk to the market. During this process, it was uncovered that the scaffolding firm specialised in working inside lift shafts. This specific area of work requires additional training, stringent risk management, and a robust adherence to health and safety protocols. Such specialisation demonstrated the insured’s high level of skill and professionalism, transforming what was initially perceived as a high risk into a highly attractive proposition for insurers.

24 hour turn around

Leveraging this newfound insight, Servca was able to deliver competitive terms within 24 hours. The cover provided was not only comprehensive but also tailored to meet the precise needs of the scaffolding firm. The client was able to bind the policy the following day, ensuring uninterrupted operations and peace of mind.

Outcome

By effectively identifying the nature of the scaffolding firm's operations, Servca turned a challenging insurance renewal into a success story. This case study underscores the importance of understanding the nuances of specialised work and the value of a proactive and insightful broking approach.

Our promise to you

We're an independent specialist broker with an in-depth understanding of Casualty Insurance and the ability to move quickly on risks. We’ll review your clients' submissions in detail and utilise our experience and market relationships to achieve the best outcome for your client.

If you’d like to understand more about our approach, please get in touch.