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Lockton Insurance for NEPIC Members

Lockton Insurance for NEPIC Members. Agenda. Overview and background Who is behind the scheme? Benefits – getting a better deal Case Study Gaining long term benefits Engaging with Lockton Questions. Overview and background.

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Lockton Insurance for NEPIC Members

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  1. Lockton Insurancefor NEPIC Members

  2. Agenda • Overview and background • Who is behind the scheme? • Benefits – getting a better deal • Case Study • Gaining long term benefits • Engaging with Lockton • Questions

  3. Overview and background • Initiative driven by Stan Higgins and the NEPIC team with the aim of: • providing significant benefits to the NEPIC member companies • bespoke solutions, tailored to the needs of each individual member – NOT a one size fits all solution

  4. Who is behind the scheme? Lockton • 15,000 clients across multiple industry sectors • 4,000 associates • 52 offices in 16 countries • £10m+ premiums placed • £600m in revenues • Founded 1966 – Jack Lockton, Kansas City • Largest independently owned broker in the world • 9th largest insurance broker in the world (Source: Business Insurance July 2010)

  5. Who is behind the scheme? Global Insurer Panel • Allianz A+ • Chartis A • Ace A+ • QBE A • Zurich A+ • Travelers A+ Financial Strength A.M. Best A+ Superior A Excellent Criteria for selection • Financial strength • Sector appetite, knowledge and expertise • Ability to write cover for SME to large global multi-nationals • Market leading service, risk management resource • Commitment to North East through local offices

  6. Benefits – getting a better deal • Guaranteed premium savings • At least 10% although we anticipate this will be greater in most cases • Broader cover • Higher limits of indemnity as standard • Broader policy cover • Market leading risk management support • Health & Safety • Business Continuity Planning • Motor fleet risk management • Enhanced claims support • Major loss claims specialists • Crisis management support

  7. Case Study • ABC Ltd • 180 Staff • £26m turnover • Moved to Lockton on a ‘NEPIC style’ scheme • Premium £240k prior to joining scheme - £176k through the facility • Moved to an enhanced policy wording available through the scheme • 3 months after moving to us they suffered a significant loss as a result of a fire • Loss would not have been covered on a standard policy wording • £4m claim paid

  8. Gaining long term benefits • Significant bespoke benefits available now • Insurers have bought into a simple concept • 500+ companies they would like to insure • Offer better benefits to the collective group • Long term – the more companies placing cover through the facility the better it gets • Price • Cover • Additional services

  9. Engaging with Lockton • Not a one size fits all facility • Please engage with us to discuss the benefits of a tailored solution for your business

  10. Questions

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