METHODOLOGY

Unique Methodology

Consort’s unique methodology enables us to identify ‘Best of Sector’ organisations which we then take through our highly evolved information gathering process in order to extract the most relevant attributes, which we then use to evidence ‘Best of Sector’ status and clear business descriptions to insurers. This strategic and carefully considered approach gives access to our exclusive capacity, and when accompanied by our intelligently crafted placement strategy, ‘Best of Sector’ organisations are not only recognised, they are also accurately categorised and subsequently rewarded with completely appropriate and competitive premiums.

Rather than simply relying on the traditional proposal form method for collating information, Consort have created a structured methodology and work forensically with our clients to achieve robust placement. Our objective is to help to facilitate the education of the entire chain to the point where all understand and appreciate each other’s core concerns and requirements.

Premium rating will of course depend upon the makeup of each individual company, taking into consideration trading activities, claims experience, management engagement, financial health and so on however, Consort’s approach will always ensure that premiums secured are appropriate in relation to business activities and contractual obligations.

Unique Methodology/Evidencing Best of Sector

In order to access PaD (Protection and Detection), Consort’s exclusive capacity, particularly in a distressed market, evidencing a ‘Best of Sector’ position is essential. It is also important to evidence an engaged management team who are focused on best practice policies and risk mitigation. Crucially, we look to identify a management team who understand the value and importance in establishing a mutually reciprocal, long-term relationship with their insurance partners.

Consort’s unique methodology enables us to identify ‘Best of Sector’ organisations and helps them to evidence this to insurers.

Our Approach helps to:

• Evidence ‘Best of Sector’ position
• Prove financial resilience
• Highlight technical excellence
• Give insight into company legacy
• Describe clear strategic direction
• Demonstrate an engaged management team

In order to protect our exclusive capacity, our PaD insurance programme is only available to businesses who can prove their ‘Best of Sector’ status, hold relevant industry accreditations, and are members of the recognised industry bodies.

Consort appreciate that no two organisations who have an element of exposure to fire risk are the same. We also recognise that some business owners are far more engaged in actively reducing their exposures than others. Therefore, before access can be granted, our pre-qualification process enables us to assess a number of aspects including financial stability, industry accreditations (such as BAFE and LPCB), membership of relevant industry bodies (including the FIA and ASFP), as well as best practice accolades, awards and achievements.

Our selection process ensures that we only take forward ‘Best of Sector’ organisations where it is evident that the management team are fully engaged in their insurance programme and focused on risk mitigation throughout the business. Our programme is reserved only for those who appreciate that proactive behaviour helps to establish, protect, and maintain the long-term integrity an insurance programme.

Consort have the experience, capability and relationships to achieve coverage that is far from the norm and this is proving to be an extremely efficient way for companies to access coverage.

We have developed a carefully crafted placement strategy that involves all key stakeholders and focuses on ensuring that all feel well informed. As is typical with all Consort programme builds, our objective is to encourage the education of the entire chain to a point where all are able to understand and appreciate each other’s core concerns and requirements. Beyond this, rather than simply relying on the traditional proposal form method for collating information, we have created a structured methodology and work forensically with our clients to achieve robust placement.

Premium rating will of course depend upon the makeup of each individual company, taking into consideration trading activities, claims experience, management engagement, financial health and so on however, our unique methodology and carefully crafted placement strategy helps to ensure that ‘Best of Sector’ organisations are recognised, appropriately categorised and subsequently rewarded with completely appropriate and competitive premiums being secured.

Establishing and maintaining a reciprocal relationship with appropriate insurer partners is crucial however, proactive behaviour with your chosen intermediary is vital in order to protect the long-term integrity of your insurance programme. At Consort we know how to be both proactive in our preparation methods and effective in relation to our ongoing advice. Our well-established trusted insurer relationships are both proactive and reactive to ever-present market challenges.

From point of first engagement Consort work intrinsically with our clients to effectively present their business to market; this allows access to the most appropriate, comprehensive, and competitive capacity. We then continue to work with our clients to ensure their programme remains aligned and supportive of business activities and evolving contractual obligations – because as your business evolves, so should your insurances. Given the seriousness of aligning insurances with present and future contractual obligations, Consort build and evolve our clients’ insurance programmes to ensure they are perfectly aligned to business activities, and as part of Consort’s unique methodology, our clients can have access to our legal review programme, relevant to such areas as T&C’s and warranties.

We are witnessing several trends that will negatively impact the policyholder. This information is specifically included to provide warning to all that as coverage evolves, dilutes, and adapts to a new landscape, it is vital that contractual obligations are reviewed, respected and, where necessary, renegotiated. The implications of not taking this part of the ‘annual’ process seriously can be catastrophic, especially if retrospective exposures to contractual obligations are not robustly considered.

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