Brisbane plant, equipment and accessory supplier has over fifty years and two generations, provided a valuable and specialised service to the hospitality market.
The client approached us to review their existing packet of policies as they had received a series of unexpected premium increases for their property and industrial business Insurance Policies
Our program recommended a simple strategy of combining local and Lloyd’s covers we access, to refine their existing collation of policies. This configuration facilitated maximum premium flexibility whilst correcting upwards their building and business interruption limits.
The program included a ‘technical’ review calculation for the client’s potential business interruption loss, thus eliminating the potential Under-insurance or Áverage’ clause penalty so frequently experienced by businesses everywhere.
After 14 years with the previous insurer, this finally enabled the business to reduce their premium by 32% and also correctly improve their policy limits.
Queensland automotive plant, equipment and accessory supplier had established a substantial local market base providing a valuable and specialised service to the automotive trade market.
Our client’s business was gutted by fire overnight losing the building and all plant and stock within. All business operations ceased and staff laid off. The owner wanted to walk away!!
By 10am our team of assessor and claims preparers were underway with police with a process to finalise 12 months later for a new building location, stock and fully recovered loss of business profits, working expenses and good will. Our team’s cohesion of well rated insurers, loss adjuster, claims preparer and client’s stoic attitude all added to a success solution.
This business is now managed by the next family generation, the owner happily walking away… to retirement.
Large city motor industry equipment supplier with a substantial state and local market provides a specialised service to the automotive parts and equipment market.
The client requested our review of their collection of policies even though they…”were too busy to meet and had been with the same agent for over 10 years”…
Following our second and final meeting, our solution was a complete revamp to combine local and our Lloyd’s market insurers to both upgrade the covers and limits for their new insurance program, whilst correcting their premium expenditure.
This enabled the business to review correctly upwards the building, plant, stock, and Business Interruption limits whilst reducing their premium from $17,000 odd to just over $12,000 in the new markets, and ongoing savings each year.
State franchisor and multi market retailer had established over time adjoining strip stores in a central retail location.
The stores faced liquidation following an assessing firm’s unfounded belief of our client’s arson involvement and the subsequent withholding of insurer’s policy pay out.
Following appointment by consulting investigators and with our claim preparer, the solution was negotiated with insurers to finalise in full the settlement of total values for plant and stock and full business interruption loss.
After many months of ‘hard yards’ we finalised the claim with all insurer’s policy limits settled and for the client to continue successful trading in the much improved premises and frame of mind.
Our industrial estate based client, a large truck and bus repairer had established over many years a dual mechanical and body shop repair business, providing services for local and long haul transport
During their long insurer and broker association,.. “they had been with the same broker for many years”… they were now uncertain about the extent of the various covers and premium costs, with their work now being ‘handed’ down the line to more junior staff.
Our solution was a program of combining industry specific local and Lloyd’s market covers to refine their insurance process, whilst correcting upwards their building, business interruption and low customer vehicle limits.
The program included a ‘technical’ review calculation for the client’s potential business interruption loss, thus eliminating the much too frequent Under-insurance or Áverage’ clause penalty so often experienced by businesses everywhere.
After many years with the same insurer, this finally enabled the business to reduce their premium costs from $45,000 odd to just over $36,000 and also increase correctly their policy limits.
Our new client’s iconic business and location had been established over many years to enjoy the patronage of many local, national and overseas visitors, who in turn experienced the hospitality of their innovative accommodation, catering and venue packages.
In one traumatic night the site was gutted by fire, losing the buildings and all plant, stock and beveridge supplies within. After 30 successful years and close to retirement, all business operations ceased, and staff laid off. Worse still the assets and business interruption limits were heavily under insured.
Several months later we were asked to join the solution for the long haul ahead. Independent Claims Preparers, LMI were again integrated into the solution process, drilling further into the policy cover to establish a substantial additional benefit for additional working expenses to what insurers were paying.
Now better funded, the business construction is nearing completion for opening and will be managed by the next family generation, the owners happily enjoying their working retirement.
A large warehouse group providing a unique service and supply chain to industrial clients nationally had handed around the ‘job of insurance’ to various staff for many years, as had the broker renewing their packet of policies year on year.
Insurance Brokers Australia were approached after they had received a substantial increase on their yearly premium for their property and industrial business Insurance Policy. Their broker of 12 years advised “this was expected after 10 years of flat market and stable premiums.
Our industrial brokers engaged a strategy to collate local and Lloyd’s market covers we access to refine their insurance program, whilst correcting upwards their building and neglected business interruption limits. The program included a ‘technical’ review calculation for the client’s potential business interruption loss, thus eliminating the Under-insurance or Áverage’ clause penalty so frequently experienced by businesses everywhere.
After 12 years of renewal notices with the same broker, this enabled the business to not only avoid the ‘expected increase’ but to reduce their premium by 23% and also correctly improve and increase their policy limits.