31 August 2020
Insurers are continuing to reduce their participation on larger and heavier property and business interruption risks. As a result, you may find that it's becoming increasingly difficult to complete certain property placements.
How NBJ Can help
NBJLM specialise in placing larger commercial and industrial risks, and using our extensive knowledge of the Lloyd’s and London market we can either look to replace the risk from the ground up or, where you have a respected lead insurer, we can help you find the additional capacity needed to complete the placement.
Examples of cases recently placed:
- Papers Mill Sum Insured £60M plus Profits. Lead Insurer cut their line from 60% to 40% and NBJLM placed the final 20% line to complete.
- Convertors of adhesive tape – Sum Insured £9M. Premises backed onto a recycling risk and there was very little market interest and existing Insurer had declined to renew. We were able to replace this risk 100% with a good quality London Market Insurer.
- Sale and Wholesale of catering equipment. Large property portfolio requiring additional capacity as Composite Insurer reduced their lead line. NBJLM placed a 35% follow line in the London market to complete.
- Hotel £15M Sum Insured and unoccupied. Composite Insurer declined to offer cover. NBJLM were able to place 100%
- Unoccupied care home currently awaiting sale. 40% Follow Line placed.
To further assist our Client Brokers we have developed exclusive and flexible Commercial Combined facilities that can cater for a vast number of trades and occupations with a total Sum Insured of up to £10,000,000. Employers and Public Liability can be included or written in isolation.
Make an enquiry
We have a dedicated team with a wealth of experience on hand to answer any questions, and provide you with additional support with property placements. Please don’t hesitate to contact us through the link below.