The Customer:
Mrs Unis Spicy Foods has been producing high-quality Indian food for over 30 years, and now operates from their 20,000 square foot factory in Edinburgh, with a total of 40 staff. Their products are sold across the country, including in major supermarkets, Asda, Morrisons and LIDL.
The Customer Need:
The customer’s existing insurer was proposing an almost 35% increase in premiums, prompting them to seek a review of their insurance covers. They were concerned about the potential impact of this price rise on their business and sought to identify any opportunities to save money while ensuring they had adequate cover in place.
The Solution:
Daniel Burns introduced the customer to Mark Lovell, Business Development Executive at Gallagher, and arranged a joint meeting to discuss their insurance requirements. Daniel’s attendance was crucial in gaining the customer’s commitment, and they agreed to engage with Gallagher.
Mark and his team reviewed the customer’s insurance needs and undertook a gap analysis, understanding the importance of robust risk management and fire safety processes for food manufacturers. Although some data was missing, it became clear that the previous cover had not been provided on the correct basis for example wages and turnover figures had been inappropriately understated. This may have affected their Public Liability and Employers’ Liability cover in the event of a claim.
The customer was able to supply the required missing information, with help from Mark and his team, who were then able to use their expertise to create a bespoke broker presentation, focusing on the provision of appropriate advice and cover to the customer.
Benefits and Delivery:
- The Employers’ Liability has been increased from £10 million to £15 million, to account for the increase in staff numbers and value of claims.
- The customer saved circa £10,000 on their premium, which, on the advice of Mark and his team, they were able to invest in improved risk management—helping to make them a more attractive risk to insurers in the future.
- Further meetings have been agreed to discuss coverage of other identified gaps in cover.
