MX Commercial Case Study: Liability, Property and Contract Works

The Challenge

A client needed an urgent solution for their Property and Liability cover. They were unsatisfied by the level of service they had received from their previous broker and had, therefore, approached one of our broker partners.

And it was fortunate that they did. There were several challenges to consider in this case:

• Property
  The client had had two break-ins in the past few years which could indicate that this was a bad risk to write, however, the client had documented several security improvements that had dramatically improved that risk.

• Liability
  The client carried out some activity in what could be deemed a hazardous location (replacing fencing adjacent to a railway).
• Time
  The final challenge with this risk was that the broking presentation was received on a Friday afternoon… and the client’s cover was due to expire over the weekend!

The Specialist Solution

Our team prides itself on collaboration – even on Friday afternoons! – Michael Fragnito introduced the risk and the broker to Niall Casey, and together they worked on providing an underwriting solution for the client.

They needed a good price, a quick turnaround, and the right coverage.

The job was split among the team, Dan Griffiths worked on providing the right Property cover. While Niall endeavoured to source a Liability solution that would be suitable for the clients working away from their premises (including hazardous locations).

All the time Niall and Michael stayed in regular communication with our broker so that they were fully appraised about not only how we would find a solution but when we would deliver it.

The Outcome

We received instructions from our broker partner on behalf of the client first thing on Monday morning, as the client had managed to negotiate an extension from their existing broker.

Our broker partner was absolutely delighted with the service they had received and how potential problems were viewed as a simple hurdle to overcome, rather than a stumbling block. They were appointed as a result.