We were asked to review the insurance arrangements of a chain of 40 public houses, part managed and part tenanted.
There were no particular issues surrounding claims or service but the business owners expressed some frustration with the work they had to carry out to administer their policies and keep on top of their requirements.
We agreed that there was nothing wrong with their cover, but the programme had been poorly designed from the outset and was creating a huge administrative burden. It was clear that things had been missed in the past as a result of this – particularly where pubs moved from the managed to the tenanted portfolio, and vice-versa.
We took over the insurance arrangements and put in place a redesigned insurance programme with the existing insurers. This reduced the paperwork from 40 policies to 2. The administrative efficiency of this new structure justified a reasonable reduction in cost from the insurers. In addition, the covers were standardised across the property portfolio so the client knew exactly what was covered at all their premises. We were also able to build in automatic cover for new properties added to the portfolio as well as coverage for Group level risks such as Loss of Barrelage Income.
We agreed an ongoing service programme of quarterly reviews which, coupled with the cover enhancements we had arranged, ensured the client no longer had premises which were unwittingly uninsured.
WHAT OUR CLIENTS SAY
“Our insurance arrangements for the group have been placed with John McQuaid since 2006. With such a diverse business we often require expert advice and quick decisions which Murphy’s have always been able to deliver. It is also noticeable that Murphy’s are not willing to rest on their laurels having won our account. Each year there is a pro-active approach to ensure we are doing all we can to meet the requirements of our insurance contract. The fact that we regularly recommend business to Murphy’s gives an insight into how highly we regard them as our Insurance Brokers”
Caledonian Heritable Ltd
“Our firm have been working with John McQuaid and his team for the past twenty years. In this period our firm has grown dramatically and we need to know that our business insurances are being looked after by professionals. We have no doubt that, at Murphy’s, we are receiving a first-class service and we are dealing with people who are working with our best interests at heart.”
RAD Hotel Group