Commercial Express

The Value Added MGA

Product developments and updates

DATE: 05/07/2019


Dear Broker,
 
We would like to bring you some of the system updates and product enhancements that we have recently applied to the CE trading platform Assist.


Catering Trailer
 
We have softened our stance a little regarding the security on static and/or permanently sited units. Previously we required the wheels to be removed with the hitch lock in order to consider theft cover. Now we will look to accept these units with two of the wheels being clamped (as well as the hitch lock being removed). This is still a referral into CE but hopefully this gives a little more flexibility on these risks.


Outside Caterers
 
A number of improvements have been put through on this product following a review with insurers.
 
One of the main feedback items from brokers was that the Optional Covers were too expensive when added to the competitive standard cover. With this in mind we have significantly reduced the rates on the following items of cover by up to 50%:
 
Business Equipment, Business Interruption, Deterioration of Stock, increased Money cover and increased Stock cover.
 
We have also negotiated extra authority which should improve the response time to referrals as we can now deal in house without the need for further referral. This includes the Annual Turnover sum insured and the Business Equipment sum insured, to name a few.
 
You should also now see some new drop-down options to compliment this increased authority. For example, when selecting the Annual Turnover, the new options are:
 
Up to £625,000
Up to £750,000
Over £750,000


Contractors All Risks
 
There have been a number of changes to this product both as a stand-alone option and as an add on to the Wages and Turnover product.
 
Many of the loadings that applied have now been removed as detailed. CE have had authority in respect of contracting turnover increased to £5,000,000.
 
Section 1 – Contract Works
 
CE authority increased to £5,000,000 Turnover
Maximum Contract Period Loadings removed (up to 6 months +7.5% / up to 9 months +12.5% / up to 12 months +17.5%)
Maximum Contract Limit Loadings removed (up to £1M +5% / up to £1.5M +10%)
 
Section 3 – HIP

Any One Accident Sum Insured Loading removed (SI between £100,000 to £250,000 +15%)
 
Section 4 – Employee’s Tools

Reduced rates (up to 20%) and new rating band created (small size discount now)
Limit of Indemnity Loading removed (LOI per employee increased from £500 - £1,000 +20%)
 
£1,000 given as standard.
 
The excess for all trade groups is now £500 – previously some trades had an excess of £1,000.
 
The following trades, which all previously referred into CE, will now quote through:
 
Artexer
Audio
Visual Engineer
Computer Engineers
Domestic Appliance Repairer
Domestic Shed/Garage Erection
Dryliner
Drystone Wallers
Garage Shed Erector
Garden Equipment Engineer
Heating and Ventilation Contractor
Kerb and Paving Layers
Metal Fabricators
Office Equipment Engineers
Pebbledashing and Rending Contractor
Plumbers and Heating Contractor (Domestic and Light Commercial only)
Property Maintenance and Repair
Shed/Garage Erectors
Street Furniture Installers
Timber Decking Contractors
Woodburning Stove Installation


Industrial PO
 
Current unoccupied rates to be decreased by 10% across all types and areas
Increase of 15% on all 4 Public House trades


Touring Caravan
 
10% discount for policy holders over the age of 50 years removed
A new load of 5% to apply when the policy holder is aged 30 years and under


Residential PO – Underwritten by Channel
 
DSS Non-referrals – increase by 2.5% across all postcode areas
Students – increase by 5% across all postcode areas
Unoccupied – reduce by 5% across all postcode areas
 
Please note the rates provided by Axis remain unaltered.


Landlords Contents
 
Increased all rates on all areas by 5%
Increased minimum premium from £50 to £60 before IPT and fee


Tenants Contents
 
Increased all rates on all areas by 5%