H.W. Wood Limited - Member Benefit
H W Wood Ltd offers a FREE Insurance Audit for fellow MIA Members
Many insurance buyers focus, quite naturally, on the cost of their insurances when looking at their General Insurances at renewal.
But H.W. Wood always looks very closely at 'breadth of cover', ensuring that protection is there when it is really needed.
Consider these 2 real life examples of major cover flaws that H.W. Wood found when carrying out an Insurance Audit for insurance buyers:
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A Motor Vehicle manufacturer with no Products Liability cover at all
- A machinery manufacturer exporting to the USA, which had bought Worldwide Products Liability cover...except for the somewhat relevant area of North America!
Of course, these are extreme examples, but a noticeable consequence of the current rate-cutting by many Insurers is the increasing amount of 'small print' now being written into insurance contracts.
These are always designed to 'protect' insurers (rather their policyholders), and can easily be a major stumbling block to making a successful claim.
This is despite the various consumer protection initiatives, additional rules and regulations imposed by the Financial Services Authority (FSA) - under which the Insurance Industry must operate.
Whilst small routine claims might well be 'nodded through', the truth is that - in the event of a major loss - Insurers could well decide to stand by their sometimes very onerous conditions, exclusions and warranties if the broker has not negotiated out of them, or weakened their potential impact, or even understood their client’s requirements.
For further information on how to 'claim' your free General Insurance Audit why not contact H W Wood Ltd, the Automotive Specialists, and ask for Greg Mead, Mark Stevenson or John Bath on 0207 398 9000.
