Case Study
Local construction company insurance program corrected with personal advice
A local construction business was recently referred to Ascend Broking by one of our clients, following a review of their insurance policies. As businesses grow, they can quickly find their insurance policies inadequate for the type of clients and work they are undertaking – that is what happened. A previous online policy had major errors in the business title, activities and estimates which would have made the policy invalid in the event of a claim.
Key Business Achievements
The Problem
The business had outgrown their previous online policy and had not received the personal advice they needed.
We discovered:
▶ Incorrect title of insured
▶ Wrong business description
▶ Activities/LOSC/contracts not covered
▶ No Directors & Officers cover
The Solution
We responded immediately to the enquiry and took considerable time to understand the business to build a robust insurance solution that included:
▶ 10-page underwriting report
▶ A quick response to the problem
▶ Taking time to explain the cover needed
▶ Provided 2 options
▶ Incepted EL/PL/CAR/D&O
▶ Providing ongoing support
We have moved quickly to solve underinsurance and put together a robust solution.
▶ Advice-driven solution
▶ Contractors combined incepted
▶ Long-term service solution
▶ Award-winning claims service
