Beech Underwriting a Market Leader in the placement of “Stand Alone Terrorism” has launched an innovative product which will save the Building Industry Thousands a year in premiums.
Up to now “Terrorism” premiums have been based on a company turnover when insured through the Government backed Scheme with Pool Re. Beech has now turned that completely upside down in that cover brought through Beech Underwriting and backed by top syndicates in Lloyd’s can be brought based on a maximum limit required for the year. For example a company with a turnover on £25,000,000 and working on risks in Zone B up to a job contract of £5,000,000 would expect to pay at least £7,500 + IPT per year under the PoolRe scheme. With the Beech Scheme the premium would be £1,000 + IPT thus making a substantial saving to the client.
Geoff Stilwell the Managing Director of Beech Underwriting said, “We have been working with our Underwriting Partners for some time, to find a way of providing Terrorism Cover for Contracts Works Policies that give the client better value and allows the client to choose the limit required. Cover can be brought up to a maximum of £50m any one contract”.
For further details please call : Geoff Stilwell or Andy Woodhams on 01622 755218 or email:-