October’s placement of the month is a structural engineer, specialising in steel substations and rail work as well as oil and gas stations. They also recently phased in a ‘one stop shop’ Geotech service to support their fabrication work. The holding insurers were unable to offer renewal terms – it was clear that we needed to place this through our specialist London markets broking team.
Another broker became involved and approached a market from whom they received a declinature – Brunel’s London broking team decided to re-approach this market.
Thanks to the team’s strong relationship with the underwriters, the client and sub-broker went from sitting with a distressed risk with no terms, to reversing the underwriters stance and retaining the client for a further year.
The client and sub-broker are both very pleased to have been able to source cover for a further year, particularly considering the broking exercise was complicated by another broker blocking the limited markets available for heavy structural engineers.