2020 – What a Year!

As we approach the end of 2020, we want to take a few moments to reflect on what I am sure you will all agree has been one of the most challenging years any of us have ever experienced. We have all been impacted by the virus which has been devastating for so many.

We learned several new words, COVID-19, Pandemic, Zoom, TEAMS, Furlough, and many more, some not repeatable!

We also learned that our Business Continuity Plan was not just a prudent exercise.

We at Property Protector are very lucky. The way our business is set up has meant that we can trade seamlessly using technology from our homes and most of our team have been working from home since March. As an MGA we have no direct client contact – our brokers are, in effect, our clients and we can work with you as normal to give you a consistency of trading. As a result, we have had a successful year and are pleased to have maintained our Service Standards, in often extremely trying times
We would particularly like to thank our team who have taken in their stride all the issues we have faced and helped us build a stronger more focussed business.

2021

The decision by Canopius to withdraw from the UK Commercial market has caused us to remodel our placement strategy.
We can now advise you of the following changes for 2021

Canopius Select Renewals

These policies will be offered under the brand of Elite Select

We are delighted to announce that all renewals from January onwards for existing Canopius risks, irrespective of size, will benefit from the Zurich Real Estate policy wording. The only exceptions will be the very few (if any) where the trade is excluded from the Zurich reinsurance treaty.

New Business

Remember, we also have 3 other partner Insurers in Geo, Ageas and Ecclesiastical

We are working with all our partners to widen the risk footprint as far as we can, and this will be very much an ongoing process.

We do however have in development two new products that will accommodate some of the more specialist risks.

The policy build is at an advanced stage and we hope to be able to make them live early in the New Year. We will let you know more detail on these when we are ready to launch.

Fees

We last looked at policy fees in 2010 when it was set at £20 per policy. With the hardening of the insurers attitude to commission we have had to take the difficult decision to make a change to our charging structure

From the 1st February 2021 our fees will increase to

£30 New Business and Renewals.
£30 for Mid Term Adjustments /Cancellations

Quotation Portal

We recently canvassed opinion from several of our brokers and there was an overwhelming desire to be able to trade electronically with us.

So, we are currently in advanced testing of a new Portal for you to input quotations directly into our system. This will allow us both to deal more efficiently with enquiries.

We are also looking at how we can improve the renewal and accounting processes using the same system.

The investment has been made and we hope that we will all benefit from this going forward.

BDMs

Our BDMs roles will be extended to full account management

We hope that they will be able to get out and about to see you in the new year however we have found that remote meetings have become a very positive way to trade and will be looking to do more of these.

We have held meetings, introducing our key underwriting personnel to your key people. This has proven to be very successful and we are keen to develop this. your BDM will be in contact with you in the New Year.

Finally…

Normally at this time of year there are normally tins of chocolates and biscuits sent out.

This year we have decided that in view of the hardship that many around us are experiencing we will be donating the money we normally spend to a local food bank in Nottingham.

In closing we would like to thank you for your continued support wish you all a Happy Christmas and a peaceful and safe New Year.

If you would like any further information, please contact in the first instance your Business Development Manager:

Kevin Tellis
kevin@propertyprotector.co.uk
TEL: 07727 672503