Case Studies

Catastrophic Fire Loss
A paper processing plant suffered a catastrophic fire loss, caused by vandals. Our clients business was completely destroyed and faced with no business and no income, turned to Premier Insurance for guidance. As the fire brigade were damping down what was left of the premises, we were on site, meeting with our client and loss adjusters appointed by the insurance company. Swift action was needed, temporary premises were secured, machinery sourced and installed and the business was up and running within 48 hours. Overall the claim costs exceeded £3,000,000 and settlement with insurers was agreed within 31 days.

Theft of Lead
Our client had a large quantity of lead stolen from their roof and whilst many insurers excluded this cover as there was no “break in”, our policy provided full cover for the replacement lead and in addition, paid to redecorate the premises. A lead substitute was sourced which was more expensive to install than the lead, however this prevented any repeat thefts.

Fleet cover – a different approach
A client contacted us regarding cover for their specialist vehicles which were insured under a standard motor fleet insurance policy. The vehicles were registered as plant and the vehicle keys had to be left in the ignition to operate the plant on site – this was excluded under a standard motor policy. We showed our client a different approach with a first class insurer, who didn’t exclude the keys left in the ignition and reduced the cost of the insurance from £28,000 to £16,000.

Combined cover
A school had a number of individual policies covering various aspects of their cover. We obtained a “tailored” policy with a specialist school insurer covering all the various aspects of the cover they had previously and much more besides. The added bonus was that the premium was substantially less than the previous years.

Undervalues sums insured
We were asked to review and report on a manufacturer’s insurance portfolio. The company had been with the same insurer for many years. During the review the replacement cost of the plant & machinery was estimated at £650,000 in the “used” market, and this was the amount insured under the policy. Unfortunately the policy was based on a “new for old” settlement, which plainly put, means the cost to replace the plant & machinery for brand new equipment which would cost in the region of £1.4 million. The implications could have been disastrous in the event of a claim as the under insurance clause – “average” would have been applied resulting in a huge reduction in the settlement figure.

Offshore cover at short notice
When an existing client secured a lucrative contract to supply power systems to Offshore wind farms, it was a case of all hands on deck. £10,000,000 of liability cover was required, with only hours to obtain the cover. We promptly contacted our insurer partners and negotiated excellent terms that were quickly accepted by all parties and the cover was in place by the end of the day.

Some of the insurers we work with