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Lockton Insurance for NEPIC Members. Agenda. Overview and background Who is behind the scheme? Benefits – getting a better deal Case Study Gaining long term benefits Engaging with Lockton Questions. Overview and background.

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Lockton insurance for nepic members

Lockton Insurancefor NEPIC Members


Agenda
Agenda

  • Overview and background

  • Who is behind the scheme?

  • Benefits – getting a better deal

  • Case Study

  • Gaining long term benefits

  • Engaging with Lockton

  • Questions


Overview and background
Overview and background

  • Initiative driven by Stan Higgins and the NEPIC team with the aim of:

    • providing significant benefits to the NEPIC member companies

    • bespoke solutions, tailored to the needs of each individual member – NOT a one size fits all solution


Who is behind the scheme
Who is behind the scheme?

Lockton

  • 15,000 clients across multiple industry sectors

  • 4,000 associates

  • 52 offices in 16 countries

  • £10m+ premiums placed

  • £600m in revenues

  • Founded 1966 – Jack Lockton, Kansas City

  • Largest independently owned broker in the world

  • 9th largest insurance broker in the world (Source: Business Insurance July 2010)


Who is behind the scheme1
Who is behind the scheme?

Global Insurer Panel

  • Allianz A+

  • Chartis A

  • Ace A+

  • QBE A

  • Zurich A+

  • Travelers A+

    Financial Strength A.M. Best

    A+ Superior

    A Excellent

Criteria for selection

  • Financial strength

  • Sector appetite, knowledge and expertise

  • Ability to write cover for SME to large global multi-nationals

  • Market leading service, risk management resource

  • Commitment to North East through local offices


Benefits getting a better deal
Benefits – getting a better deal

  • Guaranteed premium savings

    • At least 10% although we anticipate this will be greater in most cases

  • Broader cover

    • Higher limits of indemnity as standard

    • Broader policy cover

  • Market leading risk management support

    • Health & Safety

    • Business Continuity Planning

    • Motor fleet risk management

  • Enhanced claims support

    • Major loss claims specialists

    • Crisis management support


Case study
Case Study

  • ABC Ltd

  • 180 Staff

  • £26m turnover

  • Moved to Lockton on a ‘NEPIC style’ scheme

  • Premium £240k prior to joining scheme - £176k through the facility

  • Moved to an enhanced policy wording available through the scheme

  • 3 months after moving to us they suffered a significant loss as a result of a fire

  • Loss would not have been covered on a standard policy wording

  • £4m claim paid


Gaining long term benefits
Gaining long term benefits

  • Significant bespoke benefits available now

  • Insurers have bought into a simple concept

    • 500+ companies they would like to insure

    • Offer better benefits to the collective group

  • Long term – the more companies placing cover through the facility the better it gets

    • Price

    • Cover

    • Additional services


Engaging with lockton
Engaging with Lockton

  • Not a one size fits all facility

  • Please engage with us to discuss the benefits of a tailored solution for your business