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Top specialist brokers who prove that being ‘masters of one’ is key to standing out from the crowd DAVID WALSH OF CFC UNDERWRITING His journey from dot-com bust to cyber insurance success


How telematics is driving the insurance industry forward


A closer look at the industry’s embrace of artificial intelligence

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Time for something special?


rice comparison websites, insurance disruptors, artificial intelligence – the list of emerging technologies threatening to put the insurance broker out of business is as long as a piece of string. Yet the broker is not only still standing but continues to thrive. So why should they take notice of the scare­mongering about robots taking their jobs or automated systems providing advice? The answer is simple: while brokers have survived, they have done so through evolution. “The small commercial insurance space is where the real fight is right now,” Seth Rachlin, executive vice president, P&C insurance leader at Capgemini, told Insurance Business in October. “There are scores of insurance companies striving to reinvent their sales experience in that area, but they’re up against a number of well-funded start-ups that are trying to create online brokerages for small commercial risks.” On this battleground, reinvention is the key – the ability to have foresight, to think ahead and anticipate new technologies and new customer experiences. There is a consensus in the sector that the customer still wants advice before making purchasing decisions, but the routes they take to capture that are changing. It’s no longer just about face-to-face meetings – it’s about texts, social media and apps. If you’re not reaching your customers in those ways, then others will. There is also a need for differentiation. It’s so easy for a customer to go online and find quotes from multiple insurers – so why should they bother with you?

Reinvention is the key – the ability to have foresight, to think ahead and anticipate new technologies and new customer experiences The answer, of course, is that you can offer a higher level of service and find a product for their needs. But how do you get that message across? One way is to become a specialist in a niche to separate yourself from the competition. Maybe there are thousands of car insurers, but how many can deal with classic SUVs? Maybe there are hundreds of home insurers, but how many can address heritage properties? How many are specialists in sports, cyber, construction or agriculture? The consumers of today want faster insurance solutions, yes – but that means more than just offering quick quotes. It means building your brand so they come to you for your specialism first. Competition has never been fiercer – it’s time to separate yourself from the pack just like the specialty brokerages in this edition of Insurance Business UK.

The team at Insurance Business UK




Disrupt or be disrupted


Importance of AI in terms of competitiveness

3.64 out of 5

Average spend per company on AI in 2016

US$63.9m (£48.8m)

The insurance industry hadn’t been known as an early adopter – but then it found artificial intelligence

ARTIFICIAL INTELLIGENCE is still in its relative infancy, but that hasn’t stopped the insurance industry from spending big bucks on it. A recent survey by Tata Consultancy Services found that, globally, insurance is significantly outspending every other industry on AI. An overwhelming number of insurance providers have already adopted the technology



Percentage of insurance providers currently using AI

Average AI spend per insurance company in 2016 (approx. £75m)

to some extent. Last year, AIG announced it was funding a start-up, Human Condition Safety, that uses AI and data modelling, along with advanced analytics and wearable devices, to correlate real-time worksite data with historical incident data to improve employee safety. Many have predicted that AI uptake across the industry will be absolute by 2020.


Proportion of industry jobs potentially eliminated by AI by 2020


Projected increase in industry jobs that support AI functions by 2020

Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day



Underlining the industry’s fervour for the technology, nearly two thirds of insurance industry professionals rated AI as important or highly important.

When asked which aspect of the insurance industry would benefit most from artificial intelligence by the end of the decade, insurance companies’ opinions were fragmented. However, nearly a third pointed to customer service as the area with the most potential for gains. 30% 25%

Highly important 22% Important 37% Moderately important 32% Slightly important 7% Not important 2%

20% 15% 10% 5% 0

Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day






Customer service






Corporate Finance and accounting

6% R&D



Manufacturing Strategic or operations planning





Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day


Importance of AI in terms of competitiveness

3.66 out of 5

Average spend per company on AI in 2016

US$80.3m (£61.3m)


Importance of AI in terms of competitiveness


3.81 out of 5

Importance of AI in terms of competitiveness

Average spend per company on AI in 2016

4.39 out of 5

US$63.9m (£48.8m)

Average spend per company on AI in 2016

US$55.8m (£42.5m)

THE GLOBAL AI OUTLOOK The importance of artificial intelligence to managers varied greatly by region – on a scale of 1 (not important) to 5 (very important), the average score in Europe and North America fell around the middle. Yet spending on artificial intelligence tells a different story: companies in those two regions invested the most in cognitive technologies in 2016. North American firms spent an average of around US$64m (£49m), while their European counterparts spent more than $80m (£61m) apiece. Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day



Despite the potential benefits insurance companies see in deploying AI for customer service, most companies are currently investing in cognitive technologies for IT. However, companies reported applying AI across a wide range of functions; customer service, accounting, marketing and sales were also high priorities.

While other industries said executive support was their biggest hurdle to AI adoption, insurance companies highlighted the need for secure systems.


1 Developing a system that makes

good, reliable and safe decisions


2 Making the systems secure


3 Developing a system that

continually learns


4 Getting managers and employees to


trust what our cognitive systems are advising them to do

10% 0

58.7% 45.7% 32.6% 30.4% 28.3% 23.9% IT

Customer Finance and Marketing service accounting


Strategic planning









Distribution Corporate Procurement Manufacturing and logistics or operations Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day

5 Changing our business processes in

ways that capitalise on automated decisions and actions

Source: TCS Global Trend Study, Part 1: Getting Smarter by the Day




Can insurance meet the sharing economy’s needs? Are traditional insurers equipped to pivot their products – or will insurtech get there first?

Andrew Boldt

Adam Jones Head of innovation Altus Consulting

Executive general manager, innovation IAG

“Insurtech start-ups entering the industry offer both consumers and the creators of peer-to-peer platforms access to customisable insurance that allows on-demand cover. Taking home-sharing as an example, traditional insurers view having paying guests as a commercial activity, and thus not covered by residential policies; accordingly, it is standard for a home insurer to remove various covers (accidental or malicious damage and theft, for example) from the policy. “What insurtechs are doing is filling gaps in coverage left by traditional insurance providers. The new insurtechs understand sharing transactions and are creating products that fit all kinds of sharing.”

“The sharing economy was definitely not anticipated by incumbent insurers, who have typically created policies that focus on an individual owning and using something exclusively. While some moves have been made towards episodic insurance by known brands, most have

“The rise of the sharing economy is creating new challenges and opportunities for insurers. Businesses must be more customer-centric and data- and digitally driven to meet changing consumer preferences – like the sharing economy. The businesses that thrive will be the ones that use these capabilities to proactively listen to and engage customers. They’ll also have the culture to move quickly to design and deliver the experiences customers want and need. “This is not a static shift. If insurers want to keep ahead of the game, they must continually look for new opportunities, partner with emerging platforms and collaborate openly.”

Co-founder Guardhog

been slow to respond to the fundamental change in the nature of use and ownership. “A number of insurtech start-ups are trying to solve this problem by designing products from the ground up, focused on providing cover for home-sharing and ridesharing, which can be tailored to fit individual needs. Airbnb itself has introduced its own Host Protection Coverage.”

James Orchard

BUILT TO SHARE The advent of the sharing economy has brought benefits for insurers, including greater use of underutilised resources, lower overheads and customisable products, but a new report from the Insurance Institute of Canada suggests that insurance providers may have been caught flat-footed by the changing nature of the paradigm. “Many sharing platforms and their providers have expressed concern about the difficulty in securing insurance products that meet their unconventional needs,” the report said, offering the example of commercial hotel coverage for users of services like Airbnb. “If the industry does not demonstrate a capacity to respond to the needs of sharing platforms and providers, it should not be a surprise if new competitors target this segment of the market.”





The human firewall Cyberattacks are a matter of when, not if, writes Dan Burke, and readiness involves the first line of defence – humans IF CYBERSECURITY wasn’t already on insurance brokers’ minds, it is now – or at the very least it should be, in the wake of the 2017 WannaCry ransomware attack, one of the most virulent forms of malware ever seen. Attacking hundreds of thousands of computers worldwide, this breach was yet another reminder that any company with data, online records or even just an email account is vulnerable to cyberattacks. In addition to the large attacks that make the news, insurance brokers and business owners may be surprised by the vast number of smaller breaches that are happening every day. Even more troubling, businesses often are not even aware that they have been hacked until days, weeks or months later. The Hiscox Cyber Readiness Report 2017 found that the majority of companies worldwide had experienced a cyber incident in the last 12 months, and many had suffered two or more security breaches. In the US alone, 63% of firms reported having experienced a cyber incident in the past year, and 47% said they had experienced two or more. The report also determined companies’ readiness for an attack based on four key areas (strategy, resourcing, technology and process) and ranked them from novice to expert. Fewer than a third (30%) qualified as ‘expert’ in their overall cyber readiness. Based on this data, it’s clear that businesses have some major work to do when it comes to cyber preparedness. Cyberattacks and data breaches do not discriminate, and all companies that use technology are at risk. The time to talk to

your clients about cyber­security is now. It’s important to understand what cyber policies are available in the market, the nuances of those coverages and your client’s cyber exposures, but these should be table stakes. Where brokers can add value for their current and prospective clients is by being aware of the ever-evolving cyber threats that may impact their businesses. Being able to talk to your clients about their ability to manage a hack and to boost their resiliency to cyber threats is an opportunity to add value beyond delivering

entrenched in the company culture will help. There are key areas in which novice companies need to step up their game to become experts. Novices can better prepare themselves by taking the following actions: • Involve management in the cybersecurity discussion. Cybersecurity should be a concern not only of the IT specialists but also of board members. • Have a strategy. A formal strategy with a budget and measurement metrics goes a long way towards ensuring that a company’s cybersecurity efforts are efficient and cost-effective. • Employee training. Training is one of the most important elements of a cyber­ security strategy. • Document processes and procedures. A company’s response plan should be in writing, with responsibilities clearly defined, and its success should be easily measurable. • Tap into technology. Novices do relatively well in this area, but they could still stand to up their game in internal and external message encryption and authentication. • Transfer the risk with insurance. Twice as many experts as novices protect

Being able to talk to your clients about their ability to manage a hack and to boost their resiliency to cyber threats is an opportunity to add value product advice. Becoming a cyber expert yourself will not only help protect your own business, it will also make you an invaluable adviser to your clients. Education is key to ensuring your business avoids cyber­attacks. It’s a low-cost, high-impact way for companies to improve security. The process of educating businesses on cyber threats begins with their employees. They are the first line of cyber defence for any company – a human firewall. Unfortunately, many companies are still lagging when it comes to employee training. Implementing formal training and developing a security process that can be

themselves with cyber insurance. A truly comprehensive cybersecurity strategy includes an investment in cyber insurance. It’s no longer a matter of ‘if ’ a business will be the target of a cybercrime, but ‘when’. Cybersecurity should be a top priority in every business – and for every insurance broker who works with business owners and operators. Dan Burke is the cyber product head at Hiscox USA, responsible for underwriting and product strategy on the cyber line of business nationally.




In the driver’s seat The global pendulum is swinging towards data-led insurance solutions, and automotive telematics is leading the way

THE DEMAND for auto telematics continues to grow. Last year, an estimated 33 million light vehicles equipped with some form of telematics were produced globally, and production of telematics-enabled vehicles is expected to grow by 11% annually, topping more than 66 million automobiles by 2023. Alongside the new breed of connected vehicles, many insurers are also offering their customers telematics solutions via mobile phone apps. In addition to monitoring driver behaviour, today’s telematics platforms enable insurance companies to provide more accurate pricing, and can even provide safety and security features such as roadside assistance and stolen vehicle tracking.

liability and compensation in order to process claims quickly. It’s clear that telematics is big business: reports suggest that in the next decade nearly every vehicle on the road will be a connected one. By 2025, a whopping 88% of new cars produced globally are expected to be equipped with integrated telematics, and in the race forward key players are pumping resources into coming up with new usagebased insurance [UBI] solutions. In October, brokerage giant Willis Towers Watson announced that global telematics provider Octo Telematics was acquiring its UBI division and the two firms would be partnering on insurance-related products going forward. A number of key personnel

“Customers’ lives are becoming more convenient … [and] they’re looking for the same thing with their car insurance” Oliver Baxter, By Miles For carriers, telematics is also helping to increase the accuracy and efficiency of the claims process. Data that can be instantly transmitted to an insurer includes the date and location of a crash, the speed and direction of travel, and even weather details, allowing adjusters to more easily determine


from Willis, including global telematics leader Geoff Werner and his team, moved over to Octo as part of the deal. “With telematics, it’s very much about how quickly this is going to happen, not if it’s going to happen,” says Jonathan Hewett, chief marketing officer at Octo. “Everything

is being used now; from apps to traditional black boxes and connected car platforms, they are all helping to fuel the growth in the market. Frankly, it works because insurers get a better financial result and improve their loss ratios by pricing risk better and being more efficient with claims, and consumers get a better deal.” Telematics adoption has also surged as a response to a fundamentally unchanged auto insurance market, according to Oliver Baxter, head of brand and communications pay-permile start-up By Miles. “The car insurance industry hasn’t changed for decades, so much like any other sector, it’s ripe for disruption,” Baxter says. “People are quite embedded into the way it works. It’s a necessity – people have to pay for it, and they expect to pay for an annual policy. It’s been


11% Rate at which production of light vehicles equipped with some form of telematics is expected to grow annually

88% Percentage of new cars that will have integrated telematics by 2025

104 MILLION Number of new cars expected to have some form of connectivity by 2025

31% working for so long – for those businesses it’s working for, why change? And for customers, they don’t know anything else.”

convenient, more flexible and more tailored to them,” he says, “they’re looking for the same thing with their car insurance, and they

“Clearly the market of the future is going to be defined by dynamic data, as opposed to the old world of static data” Jonathan Hewett, Octo Telematics In contrast to traditional auto policies, By Miles offers a pay-per-mile policy that it says is much fairer to customers, the majority of whom are currently subsidising highermileage drivers, Baxter points out. “In the same way that all sorts of other areas of customers’ lives are becoming more

don’t understand why it doesn’t exist yet.” Hewett agrees that consumers are increasingly demanding a fairer deal, which has spurred new concepts in insurance. “The idea of ‘paying as we consume’ is a broader macro factor that’s driving the market,” he says. While auto telematics is already in the

Percentage of policyholders who expect to get a discount of 20% or more by using telematics Sources: IHS Markit, EY, Deloitte

mainstream, connected devices are now starting to make their way into the home for a similar purpose. Indeed, as part of their partnership, Octo and Willis Towers Watson plan to cast their net wider than just auto. “The team that we’re acquiring brings increased capability to interpret and analyse ever-increasing amounts of data in all different contexts,” Hewett says, “be it a car, be it a home, anything that can be connected. Big data is one thing, but smart insights and being able to make smart business decisions is quite another. Clearly the market of the future is going to be defined by dynamic data, as opposed to the old world of static data.”




OVERCOMING ADVERSITY David Walsh may be leading CFC Underwriting, the largest independent MGA in the London market, but getting there has been a bumpy road

WE’VE ALL thought it – those at the top never have to work to get there. They are handed their success. They’ve had it easy. But speak to David Walsh, CEO of CFC Underwriting, the largest independent MGA in the London market, and you gain a new appreciation for what it takes to succeed. In founding his own company, Walsh has had anything but an easy ride, first setting up in business with vision and promise 18 years ago, only to have the rug pulled swiftly from under his feet. “I set up a business called Click For Cover to sell cyber insurance back in 1999,” he explains. “We were trying to sell it through this – at the time – brand-new distribution mechanism called ‘the internet’, via internet service providers. I talked to British Telecom and got a deal to promote cyber insurance to all their business customers through their ISP arm. However, by April 2000 the dot-com bust came along and suddenly everyone was changing their plans – and now BT weren’t remotely interested in our deal any more. So the idea for the business fell off its feet.” There was no clinging to the ropes for Walsh, however, as despite the crushing blow he noticed demand in another area: brokers were eager to learn more about the cyber product. “We realised quite a few brokers were interested in cyber,” he says. “So at that point we rebranded the business from Click For Cover to CFC, and we haven’t looked back.”


The cyber vision Many in the insurance industry are still trying to grasp the concept of cyber insurance in 2017. So how did Walsh and his firm see the potential back in 1999? “In 1999–2000 there was a feeling that cyber insurance was the next big thing. It wasn’t just us; there was AIG in America, Hiscox in the UK, and so on,” he says. “It’s had lots of false dawns.” While Walsh may make light of his ‘cyber

all seem beyond your reach,” he says. “But working with David, it opened my eyes that it’s not impossible to have success in this industry.” However, the path to success took a twist when, in 1998, Walsh headed to Israel to work as an in-house underwriter for an insurance broker. “I took a binder with me, which meant I could sit in the brokerage and write for any trade within the professional indemnity

“Like any business we spend our energy where we are successful, and in the US and Canada the business has worked particularly well. We’ve built products around what the customer wants to buy” vision’, it came to him via an unusual career path. Having broken into the insurance business as a UK professional indemnity broker at Marsh in 1992, aged 23, Walsh spent four years at the global brokerage giant before becoming “employee number 15” at Howden Insurance Brokers, an independent insurance broker where Walsh says he learned the entrepreneurial spirit from the company’s owner, David Howden. “No disrespect to Marsh or any other big company, but when you sit there it can

classes,” he explains. “It’s one thing as a young man learning your trade in the city of London, but I don’t think there’s anything better than getting close to your customers – there’s no substitute for that. If you’re in a customer’s office and you don’t know what you’re talking about, you get found out pretty quickly.” For Walsh it was the beginning of a journey of discovery as his visit coincided with the dot-com boom. “Though I went there to write any class

PROFILE Name: David Walsh Company: CFC Underwriting Title: CEO Age: 48 Years in the industry: 25 Career highlight: Completing the CFC-Vitruvian deal this year Career lowlight: British Telecom saying they weren’t interested in a partnership in 2000




of professional indemnity, suddenly the tech sector was super exciting,” he says. “In those days when those companies listed on NASDAQ, as a lot of Israeli companies do, many of them were paying over US$1m for their D&O insurance.” That tech-focused explosion led Walsh down the cyber route, and the birth of CFC soon followed.

Cyber evolution Despite only having one office in London, CFC now operates across 60 countries, enjoying particular success in the US, Canada and

confused a lot of people,” he says. “For really everywhere outside America it’s primarily just about crime; from ransomware to business interruption, nearly all the exposures link to crime.”

Continued growth Coinciding with the cyber insurance market finally taking off, CFC is enjoying a surge of its own. Back in March, it secured a third round of significant investment when Vitruvian Partners bought a 40% stake in the business for an enterprise value of approximately £230m. “We really like doing these deals every few

“It’s one thing as a young man learning your trade in the city of London, but I don’t think there’s anything better than getting close to your customers – there’s no substitute for that” Australia, as well as on its home turf in the UK. “Like any business we spend our energy where we are successful, and in the US and Canada the business has worked particularly well,” Walsh says. “We’ve built products around what the customer wants to buy, as opposed to a lot of insurers which build products they want to sell.” Operating internationally has given Walsh a clear view on why some brokers have taken so long to gain ground in the cyber insurance market – and on how they could simplify their approach. “Because the US market was penetrated first – and was often centred around US healthcare companies – that language crossed the Atlantic and was used in the UK and internationally, and perhaps that’s


years, because every time you do it you can recut the equity, and we’re really committed to wide and deep employee share ownership here – this deal has allowed us to move from 46 management and staff shareholders to 128,” he says. “The amount we own of the business has gone from 18% to 60%, so it’s a deal that we’re really excited about.” But, true to form, that deal brought its own unique bump in the road. “I thought I left university with a degree, but it turned out, as I discovered recently when I had some due diligence done on me as part of the transaction, that actually I didn’t turn up to collect it, so I didn’t officially get it,” he says. “So I have been unwittingly lying about it all my life.”


1999 Year the company was founded


Premium for the financial year ending September 2017


Number of employees worldwide


Commercial customers worldwide


Personal lines customers worldwide



High-street SMEs have to evolve Brokers need to get under the skin of their clients’ business activities to ensure they have the right cover in place THE TRADITIONAL high street is changing and the needs of SME businesses are continually evolving as a result, according to insurer Zurich. In servicing SME clients, brokers need to place greater emphasis on getting under the skin of their clients’ business activities to ensure they are placing the right cover. As a result of widespread change, many high-street small businesses are diversifying their offering in order to keep afloat – and they may not fully understand the implications this can have for their insurance needs.   “It’s really important that businesses evaluate the cover they need, and that brokers get a real understanding of what the customer is doing, because things are changing all the time,” Karen Dobinson, head of package underwriting at Zurich, told Insurance Business. For small businesses on the high street, key perils range from damage to premises from fire and escape of water, to the potential for customer ‘slips and trips’ amid a growing claims culture. The impact of a physical loss on a small business can extend well beyond the event itself, and many SMEs are unprepared for a claim, Dobinson warned. “People often forget that while it might be a flood or a fire that wipes out their premises, they’ve still got bills to pay – business

interruption is a key cover for any SME, but particularly those with a physical presence,” Dobinson said. Janette Brooks, portfolio analyst at Zurich, added: “Quite often, small businesses are just keen to insure the bricks and mortar around them and protect their belongings, but if the

as there are a large number of them and they have a high insurance penetration rate,” said the report. It’s crucial that brokers drive home the importance of SME insurance altogether, and get their sums insured correct, to ensure that in a worst-case scenario clients aren’t pushed out of business. In the hair and beauty sector, for example, the risks can be life-changing. A misapplied skin treatment, an allergic reaction, or a novel therapy that hasn’t been properly vetted can all lead to the loss of reputation and significant claims, and can ultimately destroy a business. As SMEs diversify to adapt to change, brokers need to take the lead in ensuring clients provide a full and accurate account of their business activities, Dobinson stressed. “That’s undoubtedly where a broker can make a huge difference,” she said. “A lot of SME businesses, especially when they are starting up, are not sophisticated – they’re not going to have risk managers, they are often one-man bands, or just have one or two people working for them, and that’s absolutely where a broker can add value by identifying customer needs and ensuring the cover meets

The impact of physical loss on a small business can extend well beyond the event itself worst-case scenario does happen and their premises are destroyed, there’s a risk of losing customers on a more permanent basis.” Yet despite this risk, the SME insurance market witnessed a sharp decline in 2016 following four years of growth, a recent study by Research and Markets has revealed. SMEs spent 22.7% less on insurance. GWP fell 9% from 2015 to £6.4bn and the report suggested that slower economic growth and uncertainty over Brexit may have stoked the decline as SMEs spent less on insurance, fewer businesses opened, and liquidations increased. The market suffered particularly from a drop in the number of companies with five to nine employees taking out cover. “The number of companies in this size category fell by 4.1%, which is considerable

those needs.” Zurich’s Shop & Salon product for SME customers accommodates a wide range of trades and activities. It can provide a complete package of covers ranging from property and business interruption to public liability, and will automatically increase stock cover for three months during peak periods such as Christmas. Brokers can access these products either through ZTrade or Acturis.   When brokers place clients with Zurich on ZTrade, they also have access to valueadded services such as This provides clients with an assessment to help them manage their online reputation – a useful tool in a world where many customers do research online before interacting with a company.





The insurance world is changing, but these brokers are proof that being ‘masters of one’ is the key to keeping up with the UK’s changing marketplace THE FOUNDATION of a specialty insurance broker’s work is the thorough knowledge of an industry completely separate from their own. Armed with years of experience and education, insurance specialists know the ins and outs of various industry sectors. From the motor trade and contractors to military vehicles and sports leagues, specialist brokers are able to guide their clients through every risk and exposure. At the heels of a turbulent year of historic events, such as Big Ben falling silent, terrorist attacks in London and Manchester, and the beginning of the UK’s process of formally withdrawing from the European Union, what’s become clear is that the risks and exposures faced by individuals and businesses are ever-changing. The agencies profiled in this report have found their niche in providing specialised coverage for their clients’ unique set of needs. The following selection of brokers from all around the UK are edging out their competition with their wealth of expertise, earning them the title of Top Specialty Brokerage 2017.




Established in 1912, Acumen Credit Insurance Brokers is one of Europe’s and the UK’s oldest and largest independent credit insurance brokers. Family run, Acumen now has five offices, with support from 14 offices of Henderson Insurance Brokers, Acumen’s parent company. As its name suggests, Acumen possesses the keenness and ability to think clearly, with insight, shrewdness and good judgment. Specialising in credit insurance, the firm offers clients protection against bad debts caused by the insolvency or default of business customers following the sale of goods or services on credit terms in both

domestic and export markets. It also offers protection against other events caused by bad debts. With around 1,300 clients, Acumen provides credit insurance for a variety of trade sectors, including oil and gas, construction, and the food and drink industries.





Adelphi Insurance Brokers


All Med Pro


Aston Scott Insurance Brokers


Astute Insurance Solutions


Bennett Gould & Partners


Brentacre Specialist Insurance


Bridges Insurance Brokers





FUW Insurance Services


Nviro Insurance

Graham Sykes


Pavey Group


H&H Insurance Brokers


PI Expert


Hera Indemnity


Professional Insurance Agents


IMS Professional Insurance


Rees Astley Insurance Brokers


Richard Thompson Insurance Brokers


Robertson Taylor W&P Longreach


Rural Insurance


Safe Journey


Seib Insurance Brokers


Sentinel Insurance Solutions



Insurance Experts



Insurance Risk & Claims Management


Brownhill Insurance Group




CBC Insurance


JMB Insurance


Coachline Insurance Services


Johnstone Insurance Brokers


Coleman Marine Insurance


La Playa Science & Technology


Commercial & Construction Insurance Brokers




Complete Cover Group


Larsen Howie


Staysure Co UK


Courier Insurance


Magnet Insurance Services


Tasker & Partners


Doodson Broking Group


Mann Broadbent


UK Special Risks



Vet Insurance Protector (VIP)




Meadons Insurance Brokers

Everard Insurance


Moonrock Drone Insurance


Wedding Insurance Group


Five Insurance Brokers


MPW Insurance Brokers


Woodward Markwell Insurance Brokers Lmited



The automotive industry is an essential component of the UK economy, accounting for more than £77.5 billion turnover. Established in 2013, Adelphi Insurance Brokers is a general insurance broker specialising in motor trade insurance. Led by directors Phil Price and Simon Benbow, who both came from a national broker specialising in motor trade insurance, where they held senior roles, Adelphi is recognised as a leader in the sector. With over 100 years of combined experience, the firm offers a wide range of motor trade cover, including goods in transit, vehicle sales, mechanics and road risks insurance.


Aston Scott is a specialist insurance broker with many years’ experience arranging motor trade insurance for businesses, from the small independents to large dealerships

and auction houses. According to Jane Lindekam, group marketing, the three main risks faced by motor trade organizations are road risks, liability cover and premise cover. And with technology increasingly entering this space, insurance is expected to evolve with the new risks emerging. “Most new cars today will have a certain amount of ‘automation’ in the form of smart systems, which offers a window of opportunity to any would-be hacker,” she says. “With technology evolving evermore into driverless vehicles, the insurance community needs to address the question of liability in the event of a collision as there is currently no answer as to who will accept liability when driverless cars collide. It means, of course, that motor trade insurance also needs to keep abreast of any future technological developments.”









Specialists in providing commercial insurance solutions for UK businesses, Astute Insurance Solutions was established in 2009 to serve larger SME and smaller corporate clients. With a consultative advice-led approach and an expert understanding of the remedial treatment industry, Astute is able to provide cover for a variety of risks, including professional indemnity, product guarantee and financial loss.

Emma Christian, business development executive


A local, family-owned business, Bridges Insurance Brokers specialises in the charity insurance sector, including churches and Christian charities. With a percentage of management and staff regularly attending church and active


One of the many facets of Brentacre Specialist Insurance is the firm’s expertise in insuring the unique traits of high performance vehicles. This specialist knowledge will come in handy as more and more performance cars hit the road in the UK. In 2016, British ownership of super luxury vehicle brands, such as Ferrari and McLaren, jumped 15.6% year-on-year. Brentacre’s policies cover not just the performance car but also the driver — tailoring

in Christian work, Bridges has a good understanding of what it means to be part of this sector. The firm stays up to date with market trends by following other insurance and Christian media and regularly discussing the market with insurer partners. The church and charity team includes ordained pastor Greg Bridges, managing director; Nathan Friend, commercial consultant; and Emma Christian, business development executive. When working with churches and Christian groups, the team inform their clients about “the hazards involved in some of their activities”, Christian says. “Culturally, they wish to provide a warm and inclusive community as a priority, and sometimes health and safety or insurance considerations come lower down that priority list.” In terms of major risks faced, Christian says liability claims, including incidents such as trips and falls at churches or church events, are increasing, as well as other risks that are top of mind. “Theft of metal is very common, and claims can be exacerbated by church buildings being unoccupied during the week or at certain times. However, material damage to property claims are still a larger source of insurance claims,” she says.

policies to fit the complicated nature of engine swaps and modifications often associated with this class of vehicle.


Born from late director Kevin Andrew’s love of art, Brownhill Insurance Group specialises in providing insurance to art collectors and art galleries. The firm’s Love Art Insurance team offers bespoke policies and risk management to a range of collectors and art service providers to ensure the prevention of damage or loss to prized art possessions. In addition, collector clients have access to Brownhill’s VIP Art Club, through which they receive invitations to some of London’s best art fairs and events.







In 2015, agricultural employment in Wales was 4.07% greater than the national average. With a far greater impact on Welsh employment than other parts of the UK, the Welsh government must carefully consider new strategies and polices for the industry following the the UK’s decision to leave the EU. Dedicated to supporting rural people, life and businesses in Wales, FUW Insurance Services, a wholly owned subsidiary of the Farmers’ Union of Wales, possesses the specialist knowledge to properly navigate the insurance needs of the agricultural sector. By working with agricultural and commercial insurance companies, FUW provides personalised services and the cover necessary to protect individuals and their properties and businesses. Working closely with a panel of specialist agricultural and commercial insurance companies, FUW has access to a wide range of market-leading products and delivers great value for money for its policyholders. As the company is a subsidiary of the Farmers’ Union of Wales, all of FUW’s profits go directly towards funding the activities of the union, such as its work in shaping agricultural policy for the benefit of Welsh farmers.

Since its inception, Coachline Insurance Services has built its reputation exclusively in the coach, minibus and commercial vehicle sector, handling single, multi-vehicle and fleet risks. In more recent years, the increase in personal injury claims and ‘crash for cash’ incidents has had an adverse effect on policyholder premiums, with large increases being applied at renewal, says Phill Cutting, senior technician at Coachline. By closely monitoring trade and insurance press and business publications, as well as speaking to customers on a regular basis and attending industry events, the experts at Coachline have been able to stay ahead of industry trends and changes. “The bus and coach insurance



Sentinel Insurance Solutions addresses the risk needs of the self-drive hire industry. With a GWP of approximately $6m, it considers itself a market leader in this field, extending highly competitive arrangements with flexible payment options, coupled with a personal touch. Services include providing hirer qualification advice, overseas rental documents and manuals for rental staff, and claims support and assistance.


Hera Indemnity, an independent and specialist Lloyd’s broker based in London, provides the professional services sector with professional indemnity insurance. It also offers cyber risk insurance underwritten specifically for the legal profession.

Phill Cutting, senior technician sector has been hit by the increase in IPT and the effect of the Ogden rate change,” Cutting says. “Coachline has reacted to the Ogden rate increase and the change in IPT by producing help guides and videos to keep our customers updated on how these changes may affect them.”

“With very sophisticated cyber-attacks growing to unprecedented levels, most professional firms do not have cyber risk insurance that will provide financial support and protection following a cyberattack,” says John Kilmartin, head of marketing. “This is a vital new line of insurance cover that professional firms and other organisations need to protect their businesses. “Traditional professional indemnity and management liability insurance policies are not designed to cover these new and evolving cyber risks. Specialist cyber insurance is now an essential part of an organisation’s armoury against phishing emails, online fraud and extortion.” By working closely with RSA Insurance, Hera Indemnity offers the legal profession effective and market-leading cyber risk insurance and crime protection products to mitigate these risks.




Duncan Spencer, CEO


Over the last 20 years, Duncan Spencer, director of EDIA, has been working in the environmental market. He has spent the last 10 years on underwriting

Annette Baguley, scheme account executive


Recognising a clear need for an insurance product to fulfill the needs of the sign and graphics industry, Signelite was created in 2007. “The sign industry is actually substantially [diverse] and to cover everything


environmental risks around the world. Today, EDIA offers clients environmental insurance broking and consulting services providing solutions to difficult environmental issues. With experience leading some of Europe’s largest and most successful environmental underwriting teams, Spencer has worked on a full range of environmental placements. This knowledge gives him a unique outlook on the market. “The market insures two main areas: historical pollution events, liability for which attaches to the current landowner, especially as part of transaction or development; and new pollution events,” Spencer says. “Given the added pressure on our environment and the increasing age of our infrastructure, pollution events have the potential to occur more and cause more damage.” In terms of servicing clients, Spencer admits that his biggest challenge in insuring this sector is simply awareness. “These liabilities are significant when they hit, but publicity and awareness of them tends to be limited – businesses causing environmental harm do not want to let the public know,” he says.

these companies do can present a bit of a challenge,” says Annette Baguley, scheme account executive. “Whilst a commercial combined policy will pick up the majority of the cover: the manufacture, machinery, contents, tools, business interruption, public/products and employers liability … there are a number of things sign companies do which are not standard and would generally be excluded under a normal commercial combined policy,” says Baguley. Thus, specialist cover is required for this particular industry, as standard policies really do not protect most sign companies adequately. Signelite products provide the above cover, and in addition, motor trade policies are also available.


At the center of British trade, the maritime industry accounts for more than 500,000 jobs in the UK - contributing £22.2bn to UK GDP, according to Maritime UK. Everard Insurance specialises in marine and related general trade insurance, including arranging marine hull, war and P&I protection for owners and operators of workboats, tugs, supply vessels, yachts, container ships, tankers. In addition, Everard facilitates insurance on cargoes of every description. Everard is also the authorised insurance broker for the Professional Boatman Association.


Johnstone Insurance Brokers offers watercraft insurance covering hull and liability risks not just for individual owners but also for clubs and other associated commercial risks. Its program has been around for over three decades, with one of its first few schemes starting out in the 1980s, when a commercial client bought a Wetbike in the US and needed to insure it when he got back. A scheme was created on the back of the original plan, and the client has remained with the company, even though the original Wetbike is long gone, says MD Chris Harper. Johnstone positions itself as the only locally owned independent broker in Scunthorpe. Set up by Roger Johnstone in 1983, the business grew and welcomed three directors over 15 years, It joined Willis Commercial Network in 2002 and was re-established as a new company with a management buyout in 2006.




While Larsen Howie was only established as a company in 2015, the team has been working in the insurance industry, specifically the contractor, freelancer and consultant marketplace, since the early 2000s. As one of only two insurance brokers in the UK that provide both insurance and IR35 insurances/advice to contractors, Larsen Howie operates as a market leader in this niche. “The number one risk has always been and continues to be individuals making errors and/or omissions in their day-to-day role, often leading to a significant financial impact at a later date,” says Pete Willcocks, managing director. “Growing risks that are now covered include both data protection, given the impending implementation of GDPR, as well as the growing prevalence of hackers and the damage they cause without being traceable, leaving the contractor to foot the


Founded in 1962, Insurance Experts provides bespoke advice and service to a range of small to medium-sized businesses as well as individuals, including fireworks insurance to cover a full spectrum of fireworks risks. With 22 years of underwriting and practical experience in the fireworks industry, Insurance Experts can cover anything from indoor and outdoor pyrotechnics to special effects, bonfires and other events-related work.

bill for damage done via proxy.” Another major challenge Larsen Howie faces is educating contractors and freelancers on the need to maintain PI cover when they complete a contract or close their company. “Contractors often see PI as a necessary evil that they must hold as evidence to commence a role, and educating them on the available policy extensions and how they help protect them in what is an everchanging world can be extremely challenging,” says Willcocks. Recently the company added 60 new trades to its website across two new professions, reaching a total of more than 220 professions. The company also announced a policy extension for its professional indemnity and public and employers liability products for all professions excluding IT and technology. “With the Ogden changes causing mayhem to the capital requirements and solvency of insurers, especially non-UK-based insurers, customers need to now more than ever use a skilled and experienced broker who understands their requirements and ensures they are advised and insured correctly, and not just with a token off-the-shelf policy.”

Hanna Beaumont, director of science and technology division


As a specialist broker for science and technology insurance, La Playa understands the 24/7 borderless nature of tech-based businesses and the accompanying and ever-evolving risks. It strives to create the safety net these organisations need. La Playa looks after the insurance requirements of clients in various tech spaces, such as cleantech and nanotechnology as well as medical technology and life sciences, and offers special covers such as clinical trial and lab insurance. “Because of the nature of specialist knowledge required in science and tech, there aren’t as many competitors in the field – and in a high-growth sector it’s an exciting trajectory to be on. Specialisation is a great differentiator and keeps us clear of the commoditisation happening elsewhere in the industry,” says director of science and technology division Hanna Beaumont. On the challenges faced by this niche sector, she talks about the unpredictability that can mean both risk and opportunity. “Working with disruptive tech clients, there’s often no risk precedent and little data on which to base premium calculations. We have to make a significant investment of time to get under the bonnet of these clients and get a realistic picture of the risks involved.”




Filiz Umit, Zoe Lockwood, Turul Brown



Many might not perceive farming to be a dangerous industry, but the reality is quite the contrary. “Farming is the UK’s most dangerous industry, with more work-related injuries than any other sector, including construction,” says John Noone, sales director at H&H Insurance Brokers. “Rural crime is another factor, with a theft cost estimated at £42.5m in 2015.” For over 140 years, H&H has been servicing agricultural communities across the North of England and Scotland. It offers a range of coverage, including farm vehicle and in-livestock insurance, as well as the firm’s combined farm insurance that allows clients to tailor policies to meet their requirements. Noone says the top challenge in insuring this sector is the specialist knowledge needed to properly provide professional and personal service while placing the right coverage. This year, H&H has continued its expansion with the purchase of Armitage Smallholder Agency and the opening of a new office in Newtown St Boswells.


Since 2005, IMS Film Insurance has insured over 10,000 productions in the UK. As a specialist insurance broker it offers leading-edge of innovative insurance solutions for the film, entertainment and multimedia industries. With the emergence of the digital era, media has become easier and less expensive to produce, says Turul Brown, IMS managing director. As a result,

production budgets and equipment values have gone down, and in turn insurance premiums have been driven down to record lows. “The media industry has never been so fast-paced. Producers and agencies are more time poor than ever and always working to a deadline,” says Brown. “As a broker, we have to meet their expectations with swift turnaround times coupled with high-quality professional advice. The challenge for the industry is that agencies and filmmakers are under increasing pressure to make original, engaging content, and consequently as their broker we have to make sure that their ideas and briefs are insurable.”


Formula One sportsman Lewis Hamilton ranked as UK’s richest sportsman on the 2017 Sunday Times Rich list — increasing his wealth by £25m in the past year. Of the top 10 sportsmen on the list, eight reported earnings increases upwards of £7m. Such high sums being associated with these stars means the insurance services of brokerages like Doodson are much in demand. The group serves a range of clients, including high-net-worth individuals from motorsports, football, rugby etc as well as teams and clubs from these and other sports. It also services associations, governing bodies and venues.


Founded by international football referee Bob Mann and first-class cricket umpire Bob Broadbent, Mann Broadbent has been recognised by brokers and clients across the UK as specialists in sports and leisure insurance for over 50 years. It continues to provide scheme and non-scheme products for athletes, sports clubs and associations, as well as coaches and trainers. The company also specialises in coverage for ultra and extreme events.



Dennis Ryan, founder and chairman; Barry Brown, COO and John Hatfield, CEO


Thanks to the e-commerce boom, the value of the UK’s parcel market in 2017 is approaching £10bn, according to the UK Parcels Market Insight Report 2017 published by Apex Insight. As one of the UK’s leading insurance brokers in the courier sector, Courier Insurance offers the insurance products needed in this growing industry, such as van insurance, goods-in-transit cover, breakdown cover and courier liability.


Established in 2005, Dayinsure is one of the UK’s leading short-term car insurance firms. Backed by Aviva, Dayinsure has achieved significant growth year-over-year, and this year the firm is expecting turnover to hit £28m – a 30% increase over 2016. As specialists in short-term insurance, Dayinsure offers cover for clients driving UK-registered cars or goods-carrying vehicles on UK roads, with optional cover for driving in Europe. “The temporary motor insurance market can certainly be challenging,” says COO Barry Brown. “As with any online purchase, there’s a high propensity for fraud, and the fact that we provide cover







With over 85 years of combined insurance broking experience, the founding team at All Med Pro set up the firm in collaboration with BMA Commercial Insurance Consultants to offer a range of niche professional medical indemnity insurance. Providing cover against negligence or allegations, All Med Pro works with a variety of professions, including surgeons, doctors, dentists and medical examiners.

VIP was set up in the late 1990s in response to the growing need of pet owners for affordable insurance. The company offers accident and third party liability as well as other covers with periods ranging from 12 months to lifetime, and also works closely with veterinary practices. VIP is headed by Neil Flint, recognised as an expert in the pet insurance market, and is regularly featured in Dogs Today magazine, advising readers on pet insurance issues.

for short periods – with no impact on annual NCD – leads to increased risk of pre-existing damage.” Having invented the sector back when the business was formed, Dayinsure has succeeded through its strong partnership with Aviva and the innovations they have introduced. “Temporary online car insurance didn’t exist before Dayinsure, and since then we’ve [developed] a track record of blazing a trail with cutting-edge features, such as two-hourly policies for learner drivers for under £10, and not only were we one of the first adopters of MyLicence DVLA checks, we were the first in our sector to use it as a rating factor rewarding drivers with good records,” Brown says. Outside of its insurance achievements, Dayinsure is also the headline sponsor of the UK leg of the Wales Rally GB.


Nearly two decades ago, Pavey Group created Cottagesure, a bespoke solution for owners of holiday homes and cottage complexes throughout the UK. The scheme was designed to protect holiday let property and includes cover for buildings and contents, theft (full cover), loss of rental income, legionellosis liability, and the usual public and employers liability as well as legal expenses. The scheme falls under the company’s Leisuresure division, which specialises in solutions catering to the leisure and tourism industry.




Magnet Insurance Services team


“Gone are the days when high-street retail brokers were the dominant force in the personal lines sector,” says Tony Bound, managing director of Magnet Insurance Services. “With the interesting developments within insurtech … plus the lucrative distribution potential personal lines offers to global trusted online brands, such as Amazon and Facebook, the personal lines distribution landscape is once again on the brink of major change.” To compete in the increasingly challenging personal lines market,


Wedding Insurance Group prides itself as being the only insurer in the UK dedicated to providing the widest cover for the wedding industry. Recently, it has taken a new turn in its marketing strategy – currently, the team is travelling the UK to interview wedding car businesses to


Magnet Insurance offers a range of specialist insurance products, such as model railway insurance, which insures more than 70% of the model railway clubs and exhibits in the UK, and includes covers for risks related to event contents and cancellation, transit, stock, as well as public liability. Magnet recognises that customers in niche sectors look for insurance experts to solve their insurance and risk management needs, as they understand the value of receiving expert advice delivered by a specialist. “Such as in our case for mid- to high-networth, non-standard residential property or model railway insurance, implementing highly focused on- and off-line niche marketing, demonstrating sector expertise within our chosen specialist areas, is where we as small independent brokers can outmanoeuvre the big guns,” says Bound.

Barry Fehler, founder


find out more about the challenges they face and discuss tricks and tips. The information gathered from this research trip will be used to prepare a first-ofits-kind document detailing the latest collection of wedding car trade secrets to help industry players and clients align expectations. Wedding Insurance Group also extends cover for wedding photographers, venues, florists, caterers, retailers, and planners, serving as a one-stop shop for the insurance needs of all wedding trade businesses.


Seib started out in the equestrian niche more than 50 years ago, when company founder Barry Fehler purchased an expensive horse and found that there was only limited insurance cover available. Fehler then began to put together new policy wording to include loss of use, loss by theft or straying, and higher vet fees, and later expanded the offering to include motor horseboxes, trailers and riding schools. Seib is today a specialist in all types of equestrian insurance.




According to recent news reports, the UK government is looking to help travel companies manage the abuse of holiday sickness claims that are driving up costs for tour operators and consequently contributing to price increases for summer holidays. Established in 1999, Tasker & Partners is one of four main providers in the UK travel risks sector, and work with both local and multinational agencies. The company specialises mainly in coverage for tour operators and crisis response, while also looking after risk needs related to cybersecurity and terrorism. The team is also regularly involved in sector events, conferences and trade associations.



The cricket club scheme started in 1997 when Meadons Insurance Brokers noticed a gap in the market while trying to source insurance for local clubs. As most of the Upon qualifying to be a registered UAV pilot, CEO Simon Ritterband sought to obtain insurance. It was immediately apparent that the insurance market for drones was wholly underdeveloped, with very few offerings. This led Ritterband and his team to establish Moonrock Insurance. The company offers the first ‘instant purchase’ policies for qualified drone pilots, saving them the laborious process of providing extensive information without having a clear understanding of the requirements and changing regulations. Moonrock is also the first to offer privacy cover, which addresses the public’s primary concern about the widespread use of drones. To ensure that the brokerage is able to anticipate the evolving risks in this area, Ritterband also sits on the government’s advisory committee for drones and regulation, helping to facilitate a rapidly expanding industry.

team members had a passion for cricket, they utilised their knowledge of clubs’ operations to set up a bespoke scheme tailored to an individual club’s needs. Marketed under the trading name Owzat-Insure since 2014, the company offers combined covers for cricket clubs, from the smallest village teams all the way through to first-class county clubs. The brokerage currently insures over 500 cricket clubs nationwide.


Staysure Group offers a range of insurance products and services tailored to people over the age of 50. Its awardwinning travel insurance products cover a wide range of pre-existing medical conditions, including cancer and heart disease, with a medical screening service that can be conducted both online and over the phone. Between its three brands, the brokerage is able to cover 98% of all medical conditions for various forms of travel, including cruise, car, and holiday home policies. Staysure has been a finalist at a number of industry and consumer awards events in 2016 and 2017, including the UK Broker Awards and British Insurance Awards.





UK Special Risks has a series of specialist schemes for medical malpractice, dental laboratories, domiciliary care providers, and health food retailers and suppliers. The award-winning malpractice scheme is designed to cover risks faced by general practitioners, doctors, dentists and surgeons, such as failure to diagnose; prescriptive and procedural errors; lost or stolen client documents; clinic contents; and infringement of intellectual property rights. In terms of domiciliary care providers, the company arranges covers for a variety of services, such as assisted care/supported living, nursing and childcare services, and catering to patients with physical and/or mental health concerns.

Ross Lewis, Kelly Fyfe, Kelly Ewing and Conor Edwards


Professional Insurance Agents (PIA), trading as Business Insurance 247 (BI247), has been providing commercial insurance since 1995, specialising in professional indemnity, directors and officers, medical malpractice and cyber insurance. Led by Kelly Fyfe, Ross Lewis, Ellie Hearsey, Kelly Ewing and Conor Edwards, PIA/BI247 has more professional indemnity and directors

and officers suppliers available online than any other broker in the UK. The firm focuses on providing insurance online through its multi-quote-and-buy platforms, allowing clients to purchase a large range of SME insurance 24/7, from their phones, tablets, laptops or computers at a convenient time to them. CEO Kelly Fyfe says, “In addition to our direct-to-consumer business, we white-label our quote and buy platform so other brokers can benefit from using our technology. PIA Ltd/BI247 has a genuine understanding of the modern broker’s needs and can also assist not just UK brokers but international brokers by automating their schemes, which reduces administration costs for them and increases profitability.”


With 20 years’ experience in providing specialist cover, Rural Insurance is intent on staying ahead of the game by going beyond helping clients to protect their property to empowering them to keep up with the diversifying agricultural sector. Recently, the company announced a new capacity deal for its specialist farm, rural business, livestock and hailstorm products. It also provides renewable energy insurance for farmers and landowners who have ventured into electricity generation.



From TV, film and media to music, theatre, events and sports, entertainment is the name of the game

for Robertson Taylor. Now a part of global brokerage and specialty risk management firm Integro, Robertson Taylor offers specialist advice and cover for businesses engaged in different fields of entertainment, as well as for high-net-worth private clients. The company has nearly four decades worth of experience and caters to clients across the globe, with offices located both in the UK and the US.





This past summer, the UK renewable energy sector set a new record by producing nearly a third of UK electricity, according to the government. Bioenergy, hydro power, solar renewable, wind farms, and remanufacture and reuse – these are the key market sectors Nviro has been serving and for which it aims to be the first-choice insurance provider. By working closely with these sectors, the company hopes to help

minimise the consumption of energy and consumables, as well as assist in reducing waste and in promoting green issues and behaviours that contribute positively to sustainability. When it comes to insurance broking proper, Nviro ensures thoroughness at every step of the way, and conducts mid-term and renewal reviews to ensure that the programs in place continue to reflect the updated trading position of its clients. In terms of emerging risks, Nviro employs a project risk model for key areas such as cell technology, PV technology, tidal and wave energy, carbon capture and storage, kinetic energy, geothermal and air refineries.


Complete Cover Group has 45 years of experience in the auto insurance industry, specialising in taxi insurance. As one of the UK’s largest independent insurance brokers, Complete Cover has 200 highly trained staff members in its UK-based call centre who are all hands on deck to help make insurance simple. Complete Cover has a group customer base of 90,000 policyholders and an excess turnover of £100m.


For the first time since the Brexit vote, Britain’s construction industry has reported negative growth as rising political uncertainty impacts on new work opportunities. Commercial and Construction Insurance Brokers specialises in construction insurance, dealing primarily with contractors. Offering expert advice on contractual issues, the company has a strong focus on customer service and welcomes direct communication with its directors, who have over 30 years of experience and can be reached at any time of the day to answer questions. Commercial and Construction Insurance Brokers was established in 1997 and has continued to serve the best interests of its clients around the country.

Established in 1986, MPW Insurance Brokers started out arranging insurance for the construction industry, including cover for housebuilders and contractors involved in different processes, from design to building. The company also has strong affinities with various trade bodies in the industry, such as the Association of Specialist Underpinning Contractors, the Electrical Contractors Association, and the National Federation of Roofing Contractors. Its specialist team of brokers has been involved in some of the largest construction projects in the UK, and continues to arrange annual covers for the industry, including annual and single-project contractors all-risks covers.





A specialist Lloyd’s of London insurance broker, Bennett Gould & Partners is part of a multinational reinsurance and risk solutions group, and offers businesses of all sizes bespoke solutions for their insurance requirements. With a wide portfolio of commercial insurance and scheme insurance products, one of the firm’s areas of expertise is the pharmacy and medical sector, which offers a unique and challenging set of risks to mitigate. “When it comes to pharmacies, it’s always prescriptions,” says Mike Gyde, marketing manager. “Mistakes are human nature, especially when we’re under pressure. Supplying the incorrect dosage, strength or even a wrong drug can have serious consequences for the patient, pharmacist and insurer and can result in legal action, loss of licence and reputation.” With new schemes launched yearly, few survive as pricing remains a challenge across all sectors, according to Gyde. But perhaps the biggest challenge in the industry is the evolution of community pharmacies. “With the extra services they are providing, such as clinics and diagnostic centres, flexible underwriting and advanced risks assessment are key.” In addition to coverage for pharmacies, Bennett Gould specialises in providing insurance solutions for GPs, podiatrists and the pharmaceutical industry through MPUA, the firm’s in-house medical underwriting agency.


With a history rich in art, literature and music, it is no surprise that the UK is home to some of the world’s most visited museums and galleries. Recently, Liverpool’s World Museum began selling tickets for its display of the famous Terracotta Warriors, which


Five Insurance Brokers’ focus is on commercial contracting insurance.


Continuing changes in the tax system and employment regulation have meant that professional indemnity insurance is increasingly becoming a must for all sorts of professionals, self-employed

is expected to draw hundreds of thousands of visitors. Richard Thompson Insurance Brokers is a specialist broker with over 35 years’ experience in the art and antiques market, tailoring solutions to both private and commercial art groups. The firm arranges insurance coverage for museums and galleries, local and international, covering everything from archives to transport of collections. The team also works closely with specialists in related fields and is able to advise clients on valuations, legal issues, as well as conservation and restoration work and collections management.

Its insight into commercial contractor insurance stems from five company pillars: service, security, buying power, trade specialism, and price. Construction, manufacturing and process, and haulage motor trade and warehousing are three of Five Insurance Brokers’ specialties.

or otherwise. From accountants to fitness instructors to solicitors, PI Expert is able to arrange cover for a wide variety of professions, including insurance brokers themselves. Through this specialty, the company easily demonstrates how insurance is really a people business, whether it’s looking after individuals working independently or those with small companies or large businesses.




Rees Astley Insurance Brokers extends a specialist insurance scheme for the performing and creative arts throughout the UK, covering over 260 different activities and groups, including brass, jazz, folk and rock bands, orchestras, choirs, and entertainment and promotion agents. The brokerage focuses on the self-employed, and small businesses that operate within defined markets and that are in need of cost-effective solutions. A private business run by directors, Rees Astley has nearly 50 years of experience in providing a wide range of business insurance to SMEs, corporates and company groups. With offices in Aberystwyth, Newtown and Shrewsbury, the company is recognised as one of the leading insurance brokers in Mid and West Wales, Shropshire and the West Midlands.


Founded by Joe Manning and John Bryant in 2013, JMB is an independent broker offering insurance products to SMEs. It offers a comprehensive specialist scheme for cycle retailers, including cover for demonstrations, test rides, cycles on hire or loan, servicing indemnity, and cover for buildings, contents, business interruption and public liability.

Richard Ward, managing director


The specialist risk division of the KGJ Group of Companies, Insurance Risk & Claims Management (IRCM) offers high-deductible insurance solutions for large companies, as well as specialism in all things nautical, from large boat manufacturers to rowing boats. In fact, founding director Pat Ward recently competed at the 2017 World Rowing Masters Regatta in Bled, Slovenia, where he won three gold medals. As with many insurance sectors, the marine industry has become blighted

by claims liability problems with litigated claims. “These have a major impact on claims and associated risk management auditing costs for the leisure industry, which increase the cost of leisure sports which were affordable fun,” says Richard Ward, managing director. “Working on and making boats has always been a challenging work environment. IRCM directors actively participate in boating and watersports and understand the difficult balance that needs to be maintained to get cost-effective insurance cover and run a marine club or business safely.” Another big challenge in the industry is the looming danger of global warming and its side effects, such as less predictable weather patterns and increased storm activity. To combat that challenge, IRCM uses the latest flood mapping and geotechnology tools to get the best possible cover for clients, Ward says. IRCM is constantly working with insurer partners to develop and improve policy wording for the marine trade sector, and works with insurers and marine trade engineers to control claims costs with a proactive and pragmatic approach to incidents. “Knowing how boats are made, and having suffered a few incidents ourselves or seen them happen, helps anyone deal with such incidents and learn from them,” says Ward.


In September 2017, German company Rheinmetall unveiled a new armoured military vehicle – the ‘Boxer’ – touted as “the answer to the British Army’s need”, with the potential to replace Britain’s ageing military vehicle fleet. In business since in 1983, Graham Sykes offers a variety of insurance coverage, and one of its specialities is military vehicle insurance. Whatever

the model of military vehicle, Graham Sykes says, it can guarantee to provide an insurance quotation.










The perennial widespread use of plastics has been a long-standing issue, though there have been developments in the regulatory space to establish a ‘circular’ economy that ensures plastics and other materials previously considered waste are now converted into resources and reintegrated into the system. This hopefully suggests an improvement in the position of plastics companies, while also possibly changing the types of risks they now face. Since 1982, Woodward Markwell has grown steadily within the marketplace, amassing a wealth of experience in insurance and financial advising. The company works with the different players in the plastics industry chain, from manufacturers to distributors and recyclers. Typical covers include public and product liability, as well as goods in transit, motor fleet, stock, business interruption, and even cyber liability. Woodward Markwell is also accredited with Trading for Good, a not-for-profit organisation that encourages support for local charities and communities that help with youth employment and environmental issues.


Coleman Marine Insurance covers a vast array of marine transportation, including yachts, motorboats, superyachts, marine trade, yacht transportation, cargo and goods in transit, commercial craft, and Sunseeker shields. Coleman Marine Insurance is the only insurance product endorsed by Sunseeker International, and currently insures some of the top 100 superyachts around the world. Highly specialised experts at Coleman Marine Insurance aid individuals and companies alike, providing thoughtful and personal advice, as well as a 24-hours-a-day, 365-days-a-year claims management service, working closely with the UK’s leading specialist providers as Lloyd’s tribunalised broker.

As of March 2017, London has maintained its place as the world’s top financial centre, just ahead of New York City and Singapore, according to the Global Financial Centres index. Financial institutions have long been challenged by the practice of properly mitigating credit risks, further increasing the need for high-quality insurance consultancy. CBC Insurance was established in 1985 but its origins date back to the 60s. With nearly 30 years of experience, CBC covers a wide range of personal, commercial and intermediary services, specialising in credit insurance and political risk insurance. Four hundred brokers across the UK are assisted by CBC, which has enabled the company to build a premium account of £80m.


With the series of attacks that have happened in London and other parts of the UK and Europe, it’s needless to say that travel insurance must now cover terrorism. Yet traditional schemes that do include this cover are usually limited to medical care provision for injuries resulting directly from the incident, and fail to take into account indirect impact and resulting financial consequences. After the numerous attacks in 2014 and early 2015, the founders of Safe Journey decided to change the usual expectations of travel insurance by providing the first comprehensive cover for terrorism to include provision for indirect costs, and Safe Journey was finally launched in May 2016. The specialist travel scheme covers

up to £2,000 per person for alternative travel arrangements in the aftermath of an incident, as well as protection against damage or loss of personal possessions. The company also provides access to 24-hour emergency assistance within the UK.





Helping SMEs grow their businesses is a great way to grow yours. The right insurance package gives SMEs the stability and peace-of-mind they need to focus on growth. That’s why Zurich’s proposition has a comprehensive product range covering a wide range of trades. When combined with the valueadded services, risk-management tools and efficient claims service that SME customers need, it gives you the perfect package to attract more business. Find out more at:



Zurich Insurance Plc is a public limited company incorporated in Ireland. Registration No. 13460. Registered Office: Zurich House, Ballsbridge Park, Dublin 4, Ireland. UK Branch registered in England and Wales Registration No. BR7985. UK Branch Head Office: The Zurich Centre, 3000 Parkway, Whiteley, Fareham, Hampshire PO15 7JZ. Zurich Insurance plc is authorised by the Central Bank of Ireland and authorised and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our authorisation by the Financial Conduct Authority are available from us on request. Our FCA Firm Reference Number is 203093.

Insurance Business UK 2.04  

Specialty Brokerages 2017

Insurance Business UK 2.04  

Specialty Brokerages 2017