Case Studies

Securing the future of a business

The story below is a real example based on true circumstances.

MPM were called to review the insurance programme of a surface engineering company (anodising and electroplating principally).

The company instructed MPM to act as their broker following our review which highlighted several issues in the previous Insurance cover, two of which were fundamental: –

• Business Interruption cover was wholly inadequate – the gross profit figure was substantially under declared as the calculation for insurable gross profit had not been explained to the client.
• A policy warranty excluded losses arising from any processing plant being run unattended.  This was despite the fact that the anodising and plating tanks were run “lights out” which is common place for this trade.

MPM drew attention to the serious implications of the “errors” and corrected them in our quotation which also included a significant saving in premium.

Shortly after acquiring the business the company unfortunately suffered a fire caused by an unattended process. The claim was met in full. The total cost was approximately £1.1m.

Quite frankly, that business would not have been around today without our involvement.

The customer said “It pays to use a broker who specialises”.

Testimonials

"We have contracted MPM Insurance Services Limited for our commercial insurance for many years, and in all our dealings we have found their service exceptional and they will always go the “Extra Mile”.”