MGA Fiducia expands risk appetite for combined liabilities

Fiducia, a Leeds-domiciled specialty insurance managing general agent (MGA), has expanded its combined liabilities insurance risk appetite to include a range of contractor clients for UK brokers.

The expanded coverage will include builders, groundworkers, plant hirers, skip hirers, contractors for electrics, plumbing, heating, and ventilation. These will be in addition to the currently available coverage which includes employer’s, public and products liability.

The expanded risk appetite follows a strong performance of the MGA’s combined liabilities and commercial combined cover aimed at hauliers, couriers and warehousekeepers.

Fiducia will offer the commercial combined policy for contractor trades, protecting clients against material damage, business interruption, business all risk and commercial legal protection. The policy is aimed at SMEs but can be considered for larger risks.

David Heeney, Underwriter, Fiducia, commented, “We have seen a high uptake of our Combined Liabilities product for broking partners serving clients involved in supply chain and logistics operations. So, it makes sense to broaden our horizons and to complement our core Engineering products (Contract Works and Contractors Plant).

“In addition, a significant draw is our continued ability to meet the needs of clients who are facing substantial rate increases despite having a low-risk profile by underwriting and pricing on an individual risk basis. By expanding our risk appetite to cover a wider range of activities, we can support broking partners by ensuring they are equipped to provide competitive cover with market-leading capacity and service levels.”

Gerry Sheehy, Chief Executive, Offcre, Fiducia, added, “Like many business sectors, our contractor clients are faced with changing risks. We want to ensure our broking partners have access to the right underwriting support.

“As an MGA, extending our Combined Liabilities cover this way represents a positive expansion in what we can underwrite to support our broking partners and their clients.

“It also reinforces the ‘can do’ reputation we’ve built in our specialised insurance market and gives us the ability to offer a one stop solution for Combined Liability / Commercial Combined, Contract Works and Contractors Plant. We’re looking forward to working with our broking partners who have existing clients and business due for renewal in the trades we can now support or who are exploring new market opportunities.”

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