- Client: Entrepreneur and owner of a group of trading businesses
- Requirement: Review and restructure existing corporate insurance cover
Enness was introduced to an entrepreneur who operated through a holding company with a group of trading subsidiaries, each specialising in a different sector. The client was already working with our corporate finance team to arrange a funding facility, which led to an introduction to our insurance desk.
As part of the wider relationship, Enness carried out a complimentary review of the client’s existing corporate insurance portfolio. By taking the time to understand how the different businesses operated, including their individual specialisms and the way they generated revenue, we identified several areas where the existing cover could be strengthened.
The objective was not simply to add more insurance, but to make sure the overall portfolio provided appropriate protection while remaining cost-effective. Following the review, we identified two areas where the businesses did not have sufficient cover and introduced new insurance lines to address those gaps.
We also reviewed the client’s existing policies and were able to improve elements of the cover and terms. This resulted in broader protection across the group without increasing the overall cost of the existing insurance arrangements.
The review also highlighted a further area of risk surrounding several key individuals who made a significant contribution to the group’s performance and turnover. We were able to arrange comprehensive cover for these individuals, structured around their respective circumstances and the needs of the businesses they were instrumental in operating.
The exercise demonstrated the value of reviewing corporate insurance as a whole rather than assessing each policy in isolation. By understanding the structure of the group and the people behind its performance, Enness was able to identify gaps in protection, strengthen existing arrangements and improve the overall level of cover while keeping costs under control.
If you own or operate a group of businesses and would like to review whether your existing corporate insurance adequately reflects your current operations, speak to a mortgage specialist to discuss your requirements.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal, tax or insurance advice. Insurance cover is subject to insurer assessment, policy terms, conditions and exclusions. The suitability and availability of cover will depend on individual circumstances, business activities and the risks being insured.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
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