Claims history can change insurer appetite

A large or repeated loss can cause an existing insurer to change terms, increase deductibles or decide not to renew. Other insurers may also want additional information before offering cover.

What helps a new insurer assess the risk

Useful information can include detailed claims runs, circumstances of each loss, corrective action, current risk controls, updated valuations, maintenance records and evidence of changes made since the incident.

Non-renewal does not always mean the risk is uninsurable

Insurer appetite changes for many reasons. A well-prepared submission can help identify whether specialist or alternative markets are willing to consider the business.

Terms may differ from the previous policy

Alternative markets may offer different deductibles, limits, sublimits, exclusions or pricing. We help clients compare the material insurance terms offered, subject to the policy wording and underwriting conditions.