Challenge
The client had raised significant private equity backing and moved into a major facility with capacity to process over 1,000 electric vans a year, on top of their existing vintage car facility. Assembly of batteries is a very high risk process and the client was struggling to find an insurer who understood their needs and had the capacity to insure such a large operation.
Solution
Upon instruction, we immediately visited the client and undertook a full risk management survey of both locations. We were able to provide the client specific advice to improve their operation to ensure it would comply with insurer requirements. We selected just 3 insurers in the market who would have the specialist capability to insure an electric vehicle manufacturing plant. In addition there were a number of key risk areas that the client had not previously considered that we were able to provide solutions for.
Outcome
We were able to place 100% of the risk with a global A-rated insurer at a premium level significantly below the client’s initial expectation.
Highest Value Classic Car Insured
Total Value Insured
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