Complex multi-company group policy for large motor fleet
Century have underwritten a large motor fleet providing comprehensive cover for a complex linked group of businesses in the logistics, transport and freight management industry.
With a multitude of motor fleet policies in place, with widely different renewal dates and terms, the organisation was looking to combine its motor fleet insurance requirements under a simplified policy and single provider. With the complications of managing several policies across their entire fleet of 224 vehicles, Century were approached by the broker to step in and help the client streamline their policies and combine their requirements.
Combining multiple policies
With the insured looking to transition to a single policy from the outset, both Century and the broker had to work hard to work out the most logical, cost-efficient and appropriate approach. However, with renewal dates split across a 12 month period due to the length and complexity of existing policies in place, it was quickly established that incorporating all risks under a single policy would not be advisable from the start.
After meeting with the client prior to inception and outlining the approach, Century secured the first risk, underwriting the policy in July 2019. The client immediately experienced Century’s high quality customer service and claims management, providing the reassurance that they had chosen wisely. Appointing the broker for the additional risks, Century worked with them to extend the existing policies and achieve a common renewal date.
Upon review of the other risks and to meet the insureds wishes, Century then developed an offering which combined the Private Cars on 1 policy and all the Haulage Commercial Vehicles on a separate policy. Providing competitive terms and having experienced Century’s service over the previous 12 months on the first risk, the insured was very happy to place the rest of their vehicles with Century and the combined policies were underwritten in July 2020.
With the final resolution providing the insured with precisely what they required, it showcases Century’s ability to be flexible in our underwriting approach and commitment to working with our broker agencies and their clients to secure competitive insurance from the motor fleet specialists.
To find out how Century can help you with your clients large or small motor fleet insurance requirements, please get in touch today. Contact Ian White – 01245 905 104 / firstname.lastname@example.org