MX Commercial case study: Tailored Commercial Combined solution for multi-operational family business

The challenge

A family-run business, wholesaling work clothes (including embroidery), printing and manufacturing signage and vehicle graphics, and manufacturing general joinery, faced multiple challenges due to the diverse nature of their operations. Additionally, they rented out steel containers for storage of customer goods. Operating from a standard industrial unit, their premises included a joinery shop with woodworking machinery, adding a layer of complexity to their insurance needs.

The business required comprehensive coverage to protect against potential risks such as theft, property damage and business interruption, alongside liabilities associated with their operations. Their previous insurance only partly met their needs, leaving them vulnerable to significant financial loss.

The specialist solution

Understanding the intricate needs of the client, MX Commercial crafted a tailored insurance solution that encompassed the full spectrum of their operational risks. The policy included:

• Material Damage: Coverage for eight steel storage containers, tenants' improvements, stock in trade and trade contents on a declaration linked basis, ensuring all tangible assets were protected.
• Business Interruption: Insurance on an estimated annual gross profit basis, covering potential losses from business interruption due to unforeseen events.
• Liabilities: Comprehensive Public and Product Liability coverage, ensuring protection against claims of up to £2,000,000.

Additionally, MX Commercial incorporated specific endorsements to address unique risk factors such as flammable storage exclusions, minimum physical protections and portable heating exclusions, ensuring robust coverage while managing potential hazards effectively.

The outcome

The tailored solution provided by MX Commercial resulted in significant peace of mind for the client. The business now enjoys comprehensive coverage that aligns with their diverse operations, reducing the risk of financial loss from potential incidents. With a well-structured insurance policy in place, the company can focus on its core activities, confident that they are protected against a wide array of risks. The solution not only addressed the immediate insurance needs but also positioned the business for sustainable growth by mitigating unforeseen financial disruptions.

Find out more about our Commercial Combined solution, or contact the MX Commercial team.