Ana Wright is Smith Greenfield’s Corporate Client Adviser. She advises and arranges commercial insurance policies for our business, trust and charitable clients. In this edition of our meet the team series, Ana discusses the work she undertakes for clients in this dynamic and often complex area of the insurance market.
You work with corporates, charities and trusts. What specialist insurance cover do they typically look for?
Many of our clients in the commercial and charitable sectors look for specialist protection that covers Professional Indemnity, Directors and Officers and cyber insurance. This makes sure they have adequate cover for most circumstances that could potentially lead to a claim on their policy.
For our charity and trust clients, we always recommend they have Public Liability and Trustees and Directors Indemnity insurance. We recently had a charity client requiring specific insurance cover for tours and excursions it organised for its beneficiaries and members of the public. Whilst most insurers would only insure the tours and excursions as part of a total insurance policy package for the charity, Smith Greenfield was able to arrange standalone Public Liability cover for this specific activity.
Is underinsurance an issue for charities and trusts? How does SG make sure they have the right level of cover?
Underinsurance is an industry wide issue, especially for those organisations wanting to insure an older or grade listed building. We work closely with our panel of insurers to make sure the appropriate surveys and rebuild valuations are carried out on buildings or collections to establish the true level of cover required. As well as finding the right, specialist insurer for the client, we are happy to discuss with clients how our insurance and risk management advice supports the strict governance rules.
Are there any particular insurance challenges you have helped resolve?
The market for Directors and Officers Insurance has been extremely difficult for the past couple of years. This is due to how insurers are now reviewing exposures and risk following a vast rise in the number of claims. In some cases, premiums have risen by as much as 200% over the last 12 months and 400% in the last 24 months. It’s a complex process to work through, so I make sure I’m readily available to speak to clients and answer any questions they have. We give clients ALL the information they need to make an informed decision whether renewing or buying cover for the first time. Terms and conditions tend to change regularly, so it’s my role to keep up to date on these.
I also provide the insurer with the data, certifications and documentation they require in order to implement these types of policies.
Should your client need advice for a particular project or event, how are you able to help them?
If a client comes to us seeking advice for a particular project such as a security upgrade or property restoration, we use the Smith Greenfield network of professional experts to find them the right support.
I am also asked by a number of our private clients for more commercial insurance advice for their business or buy-to-let property. I am available to answer their questions and more often than not, Smith Greenfield is able to arrange appropriate cover.
Has Coronavirus impacted your clients, if so, what support has Smith Greenfield provided?
Coronavirus has had a huge impact on the world and our clients have of course felt this. As we always have, Smith Greenfield has continued to make sure our customers have the best cover available at a fair price. We also take the time to get to know clients, so when they have had any concerns about the impact of Coronavirus or business interruption, we’ve been able to offer relevant guidance on how to protect their interests.
Despite unusual market conditions, our established relationships with our insurers has meant we have maintained excellent access to the best specialist policies available for all clients – Charity, Trust, business or private client.
Should your client need to make a claim, what is your role in the process?
I am usually the first point of contact for a client who wishes to discuss making a claim. Should they choose to proceed, I then transfer them to our dedicated claims manager who supports them through the claims process.
I like to take note of all claim outcomes so, when it comes to renewals, we can negotiate fair terms prior to the policy renewal date.
What do you find most satisfying about your work?
Smith Greenfield likes to offer its clients a professional and personal service. I value this approach and really enjoy the relationships I have built with my clients and our insurers. Speaking to clients is the highlight of my day and it’s very satisfying to give them the insurance they need to protect their organisation.