The likes of electrical engineers, metal fabricators, plant hirers, ventilation contractors, and window cleaners are just some of the over 500 trades set to benefit from a new combined liability policy rolled out by Fiducia Underwriting.
According to the specialty managing general agent (MGA), the launch of the new product was in response to demands from regional brokers. Fiducia described them as having been “keen to look for options as existing liability underwriters look to hike rates, apply large minimum premiums, or withdraw from the liability market.”
While the offering is largely aimed at small- and medium-sized enterprises, the MGA said it is “happy” to explore larger risks. Where necessary, coverage can be provided for employers’ liability, public liability, and products liability.
“We have worked hard with our capacity providers to create a cover that ticks the boxes that our brokers and, more importantly, their clients were requesting,” explained Fiducia underwriter David Heeney (pictured). “The product is very competitively priced, which recognises the current issues the clients have in terms of the business environment.
“It comes with the reassurance of A-rated security and also Fiducia’s usual excellent market-leading service in terms of quote response time and documentation issuing.”
Fiducia is also open to scheme opportunities, said Heeney.
“Unlike some insurers we do not insist on a minimum level of support, so if the current insurers are not looking to renew or are insisting on substantial growth for the scheme to remain in force, then contact us,” he added.
“Alternatively, brokers may have a number of existing clients all in a similar trade and would like to explore a new scheme targeting such trades. We are keen to work with brokers and our message is that if you have a risk or an idea for a scheme, please get in touch and give us the chance to help you and your clients.”
