Plumbing contractor faces collapse
Small plumbing contractor almost collapses
“I cannot thank Matthew and the team enough for the help, guidance and assistance they provided me.”
Sector: Construction specialist
Sub Sector: Small plumbing contractor almost collapses
A small family plumbing contractor was facing closure of their business due to unaffordable insurance quotations. This arose from their existing insurer declining to provide renewal, following an unfortunate claim in 2019, where a bungalow they were working on caught fire causing £265,000 of damage.
Ascend were contacted when the insured were not able to source any quotations below the £11,000 they were quoted. As a small family business with 2 employees, this represented 30% of their projected turnover. The business was facing closure. But Ascend were happy to help
Ascend took time to understand the business, the processes involved and the working practices used at the time of the loss.
After discussion with our preferred market, it was agreed to provide public liability cover at 20% of the quoted premium,
We concluded all the coverage over the weekend in order that the client could at last sleep easy and be able to be on site on Monday.