This is a specialist rail consultancy practice with nationwide coverage providing a range of health safety services such as rail access and possession planning, drafting and auditing of safety management services along with the provision of safety labour personnel.
We found that their Employers and Public Liability and Professional Indemnity had key exclusions related to their work and that their broker did not understand what they did. Jobson James Rail investigated the gaps in cover and gave advice on changing their terms and conditions to reduce/mitigate their liability to protect their insurance claims experience.
We met with and their head office management team to understand the company’s future and how their insurance was going to need to evolve to insure their changing business. We compiled a 10 page risk analysis that our client signed off and obtained competing quotations from specialist rail insurers.
The present basis of cover was badly written by the previous broker that a direct comparison was not appropriate but we secured very competitive terms on the correct basis such that the management were relieved that the insurance had now been corrected and was on the right basis for the company going forward.
They have been so pleased with us that they have started to recommend us to their customers.
This is a specialist rail contractor with six different revenue streams – labour supply, railway training school, safety package contractor providing products and staff to operate rail safety systems, rail civils packages contracting and general rail consultancy.
We found that their Liability and Works insurances did not match their business activities and the company was exposed for key areas of activity. Jobson James Rail analysed the cover they had, carried out a critique of their terms and conditions recommending alterations to reduce/mitigate their liability to protect their insurance claims experience and interviewed their head office management team to understand how risk was managed in the business and their investment in accreditations and training.
We compiled a 20 page risk analysis that our client was happy with and secured competing quotations from specialist rail insurers. We secured a £40,000 premium reduction across of their insurances which equated to 37% of the expiring premium of last year’s rates used on this year’s estimates.
We meet the client quarterly and we are helping them by ensuring that the insurance keeps pace with their face growing and evolving business.
This client is a specialist rail civils contractor working on signalling upgrade projects with 90% of their business in the rail industry.
Their Liability and Works insurances had key exclusions which were very onerous for their business.
Jobson James Rail did a cover gap analysis of their insurance, carried out a site survey of one of their rail signalling sites and spoke with their site management. In addition we interviewed their head office management team to understand how risk was managed in the business and the quality of their accreditations and training.
We then went to market to secure insurers quotations with a 30 page detailed risk presentation that the client has signed off as presenting them professionally to market.
Jobson James Rail secured a £44,000 premium reduction across their insurances which equated to 52% of the expiring premium of last year’s rates used on this year’s estimates. Our contract of service includes contract checking and we have advised them on approximately 20 contracts, specifically on the contractual liability clauses and the onerous terms therein being passed down from Tier 1 contractors and the state railway institutions so they know what liability they have accepted which is backed by insurance and which is not.
This client is a £50m turnover concrete and civils contracting business with 25 per cent of its operations concentrated in rail.
Before working with Jobson James Rail, the business was tied into a three-year deal with an insurer who increased its premium by 30 per cent because of the perceived high-risk of rail work.
Jobson James Rail conducted a site audit and interviewed its senior management team to put together an in-depth 25-page summary of the business, highlighting its safety and training investment and systems. The end result was a premium saving on employee liability and public liability of £178,000 per annum, which represented a 42 per cent saving.
Jobson James Rail also analysed every RIDDOR in last five years and described carefully to insurers how health and safety systems had been improved to mitigate repeat incidents.
