W L
BUSINESS
RISK ? SOLUTION … SORTED !
Wirral Life talk to Peter Stevenson , founder of NW Risk Solutions .
Why did you establish NW Risk Solutions ? There was a great opportunity in the Northwest to create an agile , independent , market leading specialist insurance adviser , delivering first class claims management and acting as a client ’ s Advocate to distinguish their risks with insurance markets . The client always come first , and we deliver unparalleled service . Our people do not have a 9 to 5 methodology ; we react to issues and requests immediately !
In your view , what is the most important part of your service offering ? The ability to manage clients claims and have them settled expediently . We work for you ! Liaising directly with your insurer and their appointed loss adjusters to supervise the conduct of your claim . We provide a single point of contact and update you on a regular basis . Our team is expert in handling claims and relieving you of the stress and effort of the claims process .
Why is the world of Insurance so competitive and price driven ? Price is only an issue in the absence of value ! For clients we forensically study their current schedules and wordings and highlight gaps in cover . Once the existing cover is understood , a client can then make informed decisions based on any risks that are excluded or restricted . When claims are made , the wording of the policy can come under the most intense scrutiny .
For example , we now have a valued property developer , where upon thoroughly checking his wording we discovered that they were only covered for builds up to 8 metres in height and 1 metre in footing terms . Yet the developer indeed built houses over 10 metres and footings down to 5 . They had employed the same insurance adviser for 14 years ; but this gap in cover had never been highlighted . If there had been a claim the policy would not have paid out ! We were appointed immediately and have placed cover fit for purpose .
We are not a transaction orientated adviser we encourage clients to think about insurance more broadly than simply buying cover for a cheap price !
How would you describe Insurance ? Insurance is the DNA of commerce and all things achieved personally . Without Insurance nothing gets built , nobody moves , nothing flies , nothing floats , runs on tracks and professionals cannot advise without it . We work more towards understanding a client ’ s business or personal situation . Thus , we are better able to discuss risk .
How is NW Risk Solutions structured and why should people consider your firm for advice ? We act as your focused advocate to deliver and provide consummate service . We were formed as a joint venture with James Hallam , London . A well established and highly regarded adviser entrusted with arranging insurance programmes for some of the country ’ s best-known names . This allows us to deliver solutions in a seamless process to clients in Merseyside and Wirral . London will always be the centre of world insurance and we have access to senior underwriters who work with us and our clients to deliver the best cover . This is a true differentiator of service .
Our clients benefit from our direct access into Lloyds of London and membership of three Global Networks . We have expertise across all areas of insurance and provide focused client advocacy .
What are the specific areas of insurance you advise on ? We provide advice and placement in terms of :
• High Net worth cover for houses , valuables , second homes , jewellery , prestige motors and fine art . The ability for multiple assets to be insured under one cover
• Hospitality and Leisure
• Real Estate
• Construction , including exclusive arrangements for structural warranty provision . Owner Controlled Insurance Programmes to alleviate the necessity to rely on a third- party contractors insurance .
• Exclusive wordings for Roofers and Scaffolders
• Marine and Shipping Risks
• Mergers and Acquisition Insurance
• Motor Trade
• Full management liability covers , event cancellation and Professional Indemnity .
• Medical Malpractice including aesthetic clinics .
How much does your service cost a client ? We are delighted to review and benchmark a client ’ s current covers in what we call a ‘ silent confidential review ’. This avoids a client ’ s name being banded around insurance markets in a price driven format and from an underwriter ’ s perspective it also avoids the client appearing as purely interested in a cheap solution and not robust wording and policy design . We are only remunerated once we have performed , and our client is truly happy . We receive commission for placement or indeed act on a fee basis for professional transparency .
Price is what you pay , value is what you get from NW Risk Solutions .
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