Incorporated Insurance Group Ltd launch a new product to compete with trade insurers
Incorporated Insurance Group Ltd (IIGL) has announced the launch of a new Electrical Contractors Liability product to help regional brokers compete with trade association insurers.
Chief executive, Mike Smith said the company felt it needed to launch the product as it struggled to “win business with electrical contractors, as many are tied into their trade associations insurers.”
IIGL will offer a discounted rate to contractors who currently have a membership to trade associations, good health & safety knowledge and a proven claims free track record.
Smith continued: ”With our new policy, we’ve reviewed the Electrician’s exposures and incorporated additional covers such as Defective Workmanship, Financial Loss, Customers Goods and Efficacy Cover to our already wide policy wording which can include much-needed covers like Professional Indemnity, D&O, Debt Recovery and cover for their workshop.
”New clients will also receive a £250 voucher to access our Health & Safety services.”
Smith then said the company needs to listen to its brokers and help design products “to help our brokers grow so that we, in turn, can grow our own business.”