Liverpool-based broker cuts premium costs through risk management.
Liverpool-based insurance broker, Powell Insurance, has been appointed by Widnes chemicals manufacturer, Pentagon, to provide insurance and risk management services.
The deal followed a competitive tender process.
Pentagon is an independent UK manufacturer of speciality chemicals for the pharmaceuticals, agrochemical and industrial sectors.
Andy Dutton, director, Powell Insurance said: “Our approach to brokerage is to gain a comprehensive understanding of a client’s business and demonstrate where a proactive approach to the ongoing assessment and management of risk can reduce its insurance exposure. Pentagon provides an excellent example of how such an approach can be employed successfully to reduce insurance premiums without impacting the level of cover. As an organisation committed to health and safety and risk management best practice, our view was that Pentagon’s investment should be rewarded by reduced insurance premiums and we are delighted to have secured this on their behalf.”
Gill Jacks, Pentagon’s finance director, said “We have been impressed by Powell’s proactive approach to reducing our insurance costs. Insurance premiums represent a significant overhead for our business so it is critical we understand insurers’ requirements in order to minimise costs without compromising our cover. Powells’ team willingly immersed themselves in our business and used this thorough understanding to build a case to present to the insurers. Their comprehensive understanding of both parties’ requirements has resulted in savings way beyond our initial hopes.”
Pentagon employs approximately 200 people at its manufacturing sites in Widnes, Cheshire and Workington, Cumbria.
