Take away tailored cover
10 October 2008
Take-away restaurant owners now have access to a new product providing competitively priced cover tailored to their needs.
Commercial insurance underwriting agency APC has created the new policy and the underwriting capacity is provided by Catlin and Kiln at Lloyd’s.
The provisions can cover a wide range of business. That’s not to say it’s a one-size-fits-all solution. It can be adapted to suit the full range of businesses, from single premises operations to multiple shops and fast-food franchises.
APC says the product was developed to meet the unique needs of the take-away market.
Premises are often open into the small hours and can have a high throughput of customers which can potentially present added public liability and safety risks.
The policy provides a comprehensive level of standard cover including accidental damage and legal expenses. It also offers a broad range of optional extensions such as theft by employees, specified all risks and terrorism.
The agency is using its online broker trading platform QuoteMac, which allows over 1,000 brokers across the UK to place the risks quickly and electronically.
The company has enhanced QuoteMac to provide faster quotes and administration of the policy.
Clients introduced to the new product can also benefit from a larger no-claims bonus and lower minimum premiums, which is part of APC’s offering to certain trades.
“The development of this product is the direct result of extensive consultation with our brokers,” says APC director Ian Russell. “This market is still fiercely competitive and brokers are looking for an edge.”
Last updated on 10 Oct 2008
