Business Interruption – FCA test case

For information about the outcome of the FCA’s test case into how insurance policies respond to business interruption claims as a result of Covid-19 please visit this page.

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Line of Business: Fleet                     

Trade: Contractors                                   

When the government declared the first national lockdown on March 26th 2020, it signalled the beginning of some unprecedented challenges for our UK offices. Prioritising the safety and welfare of our employees, we moved 100% of our people to home working within a matter of days.

Despite what is now almost a year of disruption and uncertainty, our teams have continued to work tirelessly to ensure our high standards of customer service remain strong.

In fact, firm in the belief that nurturing our partnerships with brokers is fundamental to securing our own success, our newly remote working risk and underwriting teams rose to the challenge of helping our broker partner to win a new fleet business amid that first challenging lockdown period.

The task was to help the broker meet a rate per vehicle target in order to win the contract. Although we had sight of the potential deal from other brokers, our strict one quote to market ethical positioning meant that we aligned ourselves 100% with our existing broker partner and moved quickly to help them get a competitive deal together.

Within 24 hours of the initial call with the broker, our team had carried out a telephone risk consultation with the prospective client, following up immediately with a call to our underwriting and risk management teams and the broker.

This information gathering process allowed us to not only put together a competitive rate, but also offer some claims management and reporting which was not available from their existing insurer. This fast response and comprehensive package ensured that the broker won a two year new business deal for themselves and for us, further strengthening our partnership.

In the brokers own words:

"You put together a blinding offer in quick time, whilst working from home! Absolutely brilliant and happy we were able to place this client with you."                

Pexels Vlada Karpovich 4050291

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