Severn Bay Logo

Our Unique Service Proposition.

At Severn Bay Corporate Solutions, we arrange Continuity, Insurance and Risk Management solutions, for businesses and property owners, #becauseaccidentshappen to nice people all the time.

We TRUST you to disclose everything you know is important and you TRUST us to search out and find the best solution that meets your needs:

We will promise that:

  • All our communications will be clear and concise
  • We will get you the correct technical solution
  • At the lowest price available in the market
  • We will declare our fee up front so you can see that it is reasonable
  • We will save you up to 30% on your current spend

We will do this because we know it is the best way to GAIN or RETAIN clients for our business.

As wholly independent brokers, not tied to or beholden to any provider, we can search an extensive range of products, and tailor a solution to your specific needs.

We do that work for you, so you don’t have to waste precious time without the knowledge or experience to make value judgements about the suitability of what you purchase.

If you’d like a grown-up conversation about your requirements, one built on trust and a long-term relationship, just get in touch and speak to one of our professionally qualified advisers.

www.severnbay.com

Have a great day 😎

 

Insurance Review

A Full Open Market Review.

When di you last have a full, open market review of your business insurance programme?

  1. In the last 12 months
  2. Over 3 Years ago

If the answer is (2) you could be missing out on saving £1,000’s of pounds in premium.

The insurance market is dynamic and prices move all the time, some insurers come into sectors and some move out.

If you haven’t reviewed your programme for over 3 years just follow this link to book a full review:-

Save 30% on your insurance – Severn Bay

Have a great day

SB Logo

What a liability!

In business you insure STUFF you can see touch and feel!

You insure your LOSS OF PROFIT or REVENUE if the worst happens!

Lastly you insure your LIABILITIES, for everything you’ve ever done or will do.

This last category, Liabilities is by far the most important as this is where the biggest losses are likely to be and now with the advent of No Win, No Fee lawyers it is easier then ever for someone to have a go at you, often at no cost to themselves.

 

There are 4 main concerns, they are:

El = EMPLOYERS LIABILITY – Injury to employees or damage to their property

The only Liability cover required by Law, with heavy fines or even jail terms for non-compliance

Pl = PUBLIC LIABILITY – Covers damage to property or injury to people outside your business.

PD = PRODUCTS LIABILITY – Covers damage to property or injury to customers, by the product you manufacture, sell or supply.

PI = PROFESSIONAL INDEMNITY – Covers financial losses of your clients, where they allege the loss results from your negligence, errors, or omissions.

 

LIMITS of LIABILITY

EL – £10 Million as standard & £5 Million for terrorism, although only £2 Million required by law.

PL/PD – £2 Million base level, although, £5 more standard. Extra layers as required.

PI – £100,000 base level, with limits up to £5 Million not unusual

 

Obviously, there are lots of specific circumstances, for instance medical negligence PI often covers bodily injury also. If you can think of a situation where a Duty of Care arises, and that is almost any situation where you take some money off someone, to do a thing or sell a product, then an insurance contract will exist to cover the liability that arises.

If you want to know more, then jump on over to book your FREE discover session @

🔵Save 30% on your insurance – Severn Bay

Solicitors & Accountants Offer

Professional Indemnity – 30% Savings Year after Year!

🔵 Would you like to get a 30% reduction in the cost of your Professional Indemnity Insurance, this year, next year and every year thereafter?

Between now and the 15th of August I am looking for 5 Solicitors or Accountants, to get that result!

Just for your information we recently saved a client over £7,000 on the previous years spend of £25,000, that’s a 28% real saving.

If this of interest send me a direct message, email me nigel@severnbay.com or contact me on 029 20 470 375.

 

Solicitors

It’s that time of year again!

Solicitors and their friends and associates.

When the majority of Solicitors get all hot and sweaty about their PI (Professional Indemnity) renewals on the 1st October.

I hear this a lot from contacts and associates in the city of London, where premiums for the legal sector are the highest. The one thing they always rant about (apparently) is the cost of their PI Insurance.

I get this I really do.

Premiums in the legal sector have in some cases gone up by over 400% in the last 5 years.

What is also true is solicitors NEVER do what they need to do to get those premiums down!

Because of revulsion or apathy, they engage late with the existing provider, fill in a proposal form, then wait almost until the last minute, when they are told GUESS WHAT?

The premiums gone up again.

But there is an effective way to reduce premiums.

Engage early (and that means NOW) with a whole of market broker, who works on fixed fees, and has no other focus than to get you the cheapest premium available in the market.

It also means we get commitment to quote from a range of providers, before the existing insurer/broker can close them off with fake requests for quotes. It does happen!

So, if you want lower premiums just message me here to start the process, because:

If you always do what you always did, you are always going to get, what you always got!

And that means ever increasing premiums!

Act quickly

Act Now!

And let’s look forward to lower premium – Year on Year!

Have a great week 😎

 

Solicitors

Solicitors and Legal Firms beware!

Its that time of year again!

 

Professional Indemnity for Solicitors is always a hot topic at this time of year.

 

Traditionally all firms renewed on the Law Society scheme on 1st October, but since that scheme was broken up, at least 60% still renew on that date, with another chunk who chose 18 month policies, renewing on the 1st April and a smattering of new start-ups at other times.

 

This is a nightmare for firms and for the insurers.

 

Firms looking for alternative options to the existing provider are asking the limited number of underwriters not only to deal with their existing customers, but also prepare terms for the ones they don’t hold, all in the run up to 1st of October. In total there are over 600 firms.

 

The secret is to start early and I mean NOW!

 

That way we can approach insurers when they aren’t quite so busy with renewals. We can get a commitment to quote, which means if an existing broker then approaches them to “block off” that market, with a fake request for terms they can’t, because we already have commitment.

 

Also don’t fall for the option to “ONLY” consider a short declaration to get renewal terms. These short declarations do not hold enough information for alternate terms to be obtained. You’re just going to get the terms they want to give you, secure in the knowledge you’re not looking elsewhere.

 

It also means they don’t have to give claims experience to anyone else, because you signed a declaration to them. This is particularly prevalent at times when premiums are likely to reduce, like NOW!

 

If you want to get lower premiums work with a broker who works for fixed fees, or a % of the reduction achieved, and is not commission focused, with an interest in seeing your premium rise and their earnings with it.

 

Want to know how we can save up to 20% on your total spend?

 

Just message me here and don’t wait, there isn’t much time and the weeks are passing quickly.

 

Have a great week

 

Increasing costs

Oh no, not again!

Your business or professional insurance is due for renewal.

A week before you get a pleasant email from the provider or broker with your renewal quote.

It’s gone up again, for no particular reason.

Out of apathy or resignation you pay the bill and get on with your life.

But it doesn’t have to be that way, there is a solution and its easier than you think.

Work with a broker whose interests are directly aligned with yours.

Fixed fees and no commission conflict, just the lowest price available every year.

At Severn Bay Corporate Solutions that is exactly what we do

  • The Correct Technical Solution
  • At the Lowest Price
  • Declare a fixed fee which carries no tax, before you decide.

Our guarantee – That we will do that, this year, next year and every year you stay with us.

You get a professional relationship, great advice, a fully managed claims service and the cheapest price available every year.

What’s not to like?

Head on over to www.valuefirstbusinessinsurance.com and book your discovery call now!

Remember, there is another way.

Have a great day 😎

#startups #contractors #claims

Positive feelings

It’s a new dawn and a new day and I’m feeling good!

Bet you just sung that with a southern twang?

What gets you going on a Monday morning?

For me its knowing that I can make a real difference to people who care about getting the right advice at the right time. If they are prepared to engage with me and let me find out all about their business then I can understand what they do, assess the exposures and give them the correct advice.

Now we all hope we don’t ever need to use our insurances, but in truth that’s not the real world and with no-win no-fee legal cases on the rise, sooner or later someone disgruntled individual will probably have a go at you, justified or not.

If you have valuable assets, buildings, stock, equipment and machinery, then they must be protected correctly. If they get destroyed, damaged or stolen and your insurance isn’t correct, your claim could be void and you are left holding a very expensive piece of paper.

Getting the correct advice and guidance is essential, suitability is everything and the devil is always in the detail of the wording, which to be honest most policyholders never read.

We do, so you don’t have to.

Want some good advice, free at the point of discussion. Just call 029 20 470375 or message me here.

Have a great week 😊

Professional Indemnity

The odd one out!

Most liability cover is about two things, DAMAGE to property or INJURY to people. Its really that simple, although of course the devil is always in the detail, but what about the odd one out!

PI Cover (Professional Indemnity) also known as professional liability, is very different. It is not primarily concerned with damage or injury, although there are some examples where this is relevant, but more of that later.

Professional Indemnity deals with:

The FINANCIAL LOSSES suffered by your clients, where they allege that the financial loss is a direct result of your, negligence, errors, or omissions.

That is that you did something wrong, or you failed to do something you should have done, and that “professional failure” led directly to the financial loss.

Now it’s easy to see why this cover generally relates to what are loosely termed the professional classes, such as Solicitors, Accountants, Architects, Surveyors, IFA’s, Stockbrokers, IT Consultants etc… The list goes on and on, but generally speaking anyone who offers a service or provides advice, for a fee, would require PI cover, as their primary concern.

Bodily injury can be covered. So now we are thinking about nurses, doctors, dentists, medical consultants, and other healthcare professionals, where the professional failure could lead to a medical condition or injury. In this context we call PI cover, medical negligence.

Obviously, there are lots of other covers that professionals can arrange, like anyone else, including the standard liabilities and damage to property, but PI would always be their main concern. In a lot of cases the professional bodies to which these individuals and businesses belong require PI cover to be in place before they can transact business.

If you are unsure about whether you need PI cover, or whether it would be advisable, for you or your business, feel free to give us a call 029 20 470375 or just message me here for a no obligation chat.

It could be the most valuable call you ever make.

Have a great weekend 😊

BIBA 2023

BIBA 2023 Manchester Central

As a proud member of The British Insurance Brokers Association for over 40 years, and now as a board member, I can say without any hesitation that the BIBA conference in May each year, bringing brokers and insurers together in one place for three days, is one of the best and most productive weeks of the year.

This year the theme is “Rising to the Challenge” The BIBA Conference 2023 | The British Insurance Brokers’ Association

If you have annual arrangements you wish to arrange or renew, doing it at the BIBA conference each year is probably the most effective way. The range of providers present and more importantly decision makers, all in one place make for an excellent conference.

Add to that the line up of keynote speakers and sessions each year, bring everyone up to date with what’s new and emerging as well as all the legal and regulatory matters that will affect our businesses going forward over the next 3 – 5 years. If you are an insurance professional #biba2023 is the place to be.

It’s also nice to be in the middle of something which has been in planning for the last 12 months, leading directly from the manifesto which is published in January each year. In 2023 we are #managingrisk & #deliveryingstability.

Looking forward to meeting friends old and new and securing services that will directly benefit our clients going forward.

Have a great week, I know I will.