This is a high quality electrical contracting business specialising in design and build works for Network Rail and Network Principle Contractor License holders.
They have been working on Crossrail and many major rail projects across the country.
We examined their insurance programme and identified that they were paying a premium based on them being a high hazard contractor with heavy manual risks which was completely the wrong risk profile for them.
We visited one of their contract sites (Crossrail) and wrote our own site report which explained that most of their work was in fact light manual/technical and the associated non electrical work that they did in the cess was managed well.
We successfully reduced their EL PL premium by 50% resulting in an annual premium saving of £27,000 which added straight to their net profit bottom line.
We increased their professional indemnity cover from £500,000 to £1,000,000. We increased the cover from aggregated to any one claim and we still reduce their PI premium by 75%, saving £6,000.