Insurance Woes

tarmon

I run an outdoor recreation company. What I do is quite niche (I don't want to get into specifics). The business is successful and is growing year on year. However this year I am finding it almost impossible to get insurance. My current broker has tried numerous companies but has only managed to get an enormous quote from one insurer which is just not feasible.
My question is does anyone know of good insurance brokers who are into niche/unusual risks?
Thanks,
Tarmon.

Gloomtastic!

Try http://www.bizbroker.ie/

They seem to be able to cover most things i throw at them.

pedroeibar1

tarmon wrote: »

I run an outdoor recreation company. What I do is quite niche (I don't want to get into specifics). The business is successful and is growing year on year. However this year I am finding it almost impossible to get insurance. My current broker has tried numerous companies but has only managed to get an enormous quote from one insurer which is just not feasible.
My question is does anyone know of good insurance brokers who are into niche/unusual risks?
Thanks,
Tarmon.

Tarmon. that is more of a rant than a question. You have given no info., no claims experience.....How much is the premium amount and what was the % increase on last year?

tarmon

Thanks for the info Gloomtastic

Pedro maybe you didn't read the following bit of my post:
"My question is does anyone know of good insurance brokers who are into niche/unusual risks?"
How is that a rant and not a question?

Yes of course I'm going to put up all the details of my business, the insurance I pay and claims history on a public forum!
I asked a simple question looking for a simple answer which Gloomtastic managed to answer. If all you can't offer an answer to said simple question then just move on.

RiseToMe

I've used Burkes in Cork to cover a specialised area, it took quite a bit of paperwork and a little time for them to find a company but the quote was competitive and I was happy with it. A very small increase. Previous insurer was a UK based company who closed Irish Market on foot of Brexit.

tarmon

Thanks RiseToMe that's very helpful and much appreciated

Tarmon

pedroeibar1

tarmon wrote: »

Thanks for the info Gloomtastic

Pedro maybe you didn't read the following bit of my post:
"My question is does anyone know of good insurance brokers who are into niche/unusual risks?"
How is that a rant and not a question?

Yes of course I'm going to put up all the details of my business, the insurance I pay and claims history on a public forum!
I asked a simple question looking for a simple answer which Gloomtastic managed to answer. If all you can't offer an answer to said simple question then just move on.

Yes I did read your question and the above rant. Anyone with a knowledge of insurance would ask the questions I posed before trying to help. To suggest that somebody could identify your business from such basic innocuous information as premium amount/premium increase is naïve in the extreme.

You say you run an ‘outdoor recreation business’ – that could mean anything from bouncy castle hire to operating a fleet of sailing yachts or a hill-walking tour business. Your claims history (including claims notified) is the key factor in any renewal offer. (Simply responding that you were ‘claims free’ would have sufficed.) Premiums have increased also without reference to claims history, as costs of Solvency II compliance have been very onerous. The premium amount payable also determines the broker to approach. There is no point in me naming specialist / niche brokers without knowing the premium amount as all have minimum premium thresholds; bigger brokers, such as Aon, Marsh and Willis have the same rules.

Why bother to come here for help? Your attitude and sense of entitlement suggests you know it all already, so there is little point in me trying to help. You will get what you deserve, best of luck to you, I've moved on:)

pedroeibar1

RiseToMe wrote: »

Previous insurer was a UK based company who closed Irish Market on foot of Brexit.

Nope. You might have been told that, but it is untrue. Not one underwriter has left the Irish market following as a result of the Brexit vote result.

tarmon

Yes Pedro you are of course right, I have been naïve. Pardon me for asking a simple question. And I'm so sorry about my supposed rant! You're absolutely right (as usual) I should seek help somewhere else. Oh and while I'm apologising do please accept my apologies for my sense of entitlement. Yes you're right again I had a sense that I'd be entitled to a straightforward answer.
Tarmon:rolleyes:

Get your finger out buddy and call the insurance companies one by one instead of relying on a broker for something so crucial to your business! We will pardon you for being lazy, not giving any details of your niche but at the same time being entitled to get good advice. To quote ":rolleyes:"

tarmon

Great! Another person who can't or wont offer an answer to a simple question but who wants to have a pop at me as well. So now along with being ranting and naïve I'm just lazy as well. Gee thanks!
Just to let know the insurers in my particular sector are mainly Lloyds syndicates in the UK and they can only be accessed by a broker. You can't just pick up the phone to them as you suggest. I wish it was that easy and then I wouldn't have made the mistake of asking in this forum!:rolleyes:

tarmon

tarmon wrote: »

Great! Another person who can't or wont offer an answer to a simple question but who wants to have a pop at me as well. So now along with being ranting and naïve I'm just lazy as well. Gee thanks!
Just to let know the insurers in my particular sector are mainly Lloyds syndicates in the UK and they can only be accessed by a broker. You can't just pick up the phone to them as you suggest. I wish it was that easy and then I wouldn't have made the mistake of asking in this forum!:rolleyes:

Your posts just come across as ridiculous to me man. If you want proper help, then say what business your in and then you might get it. How do you expect help if as you say its such a niche insurance product and you won't say what the niche is. Do you think someone is going to suddenly start up a a serious business on the basis that you disclose what kind of company you run? Come off it....

None of us here are psychic, but theres plenty of smart connected business people who can give you the advice you need and maybe even tell you the particular company that could provide a solution to your problem. But your not going to get what you want posting the way you are. You should know well already how this forum doesn't have time for sham posts.

tarmon

Ok so just to recap, I'm ranting, naïve, lazy and now a sham poster who is ridiculous because I asked did anyone know of a broker that is in the outdoor recreation sector that maybe deals with non standard risks.
Fair enough I apologise for the lack of detail in my query and you know you're all probably right in that if I wasn't willing to put down all the entire details of my insurance issue then I shouldn't expect a workable response.
Lesson learnt! Thanks for the replies and I'm sure the post has been entertaining for onlookers!
Just like Pedro I'm moving on too!

pedroeibar1

You should read responses and judge them on their questions they ask before responding
Go look up 'PCF' roles
Pedro has been approved for several of them, Go figure.
P:D:D:D:D:D:D:D

mrawkward

The Irish operation of JLT Speciality may be able to help. https://www.jlt.ie/. Their UK operation arrange all the motorsport event cover for UK motorsports events. Premiums and excess amounts have been rising dramatically by whole number multiples, largely due to claims experience on Rally events. It is even worse in Ireland.