Comprehensive Overview of Motor Trade Proposition by Marsh Commercial
Marsh Commercial offers a comprehensive Motor Trade Proposition that includes Sales and Underwriting services across the UK. They provide a wide range of covers under one policy, target specific trades, and operate with a one quote to market policy. With full underwriting authority and strategic partnership with Marsh, they cater to various sectors within the Motor Trade industry. Visit their website for more information and support material.
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Motor Trade Proposition 3rdNovember 2022
Service model: Sales & Underwriting All our regions have the capability to write Motor Trade business for Marsh Commercial across the UK. E-Trading Centre Regional Trading Branches We have full branch sales and underwriting branches across the UK: National Trading Centre Schemes Centre Birmingham Manchester Leeds Glasgow London (City) Bristol Maidstone Watford Gloucester FarmWeb Claims 2 Come and talk to us https://nig.com/contact-us/
Trading Fundamentals We operate One Quote to market policy. We are A1 Rated by Moody s We are a strategic partner of Marsh All our Regions have full underwriting authority to write across the Motor Trade risk spectrum. We have a great product 3
Motor Trade One A wide range of covers under one policy Material Damage - all risks including full theft cover Business Interruption Terrorism cover Goods in Transit Loss of Business Money and Personal Assault Personal Accident Employers Liability Public Liability Defective Workmanship/Sales Indemnity Legal Expenses Wrongful Conversion Engineering Damage, BI and Inspection Computer cover Road Risks cover Fidelity Guarantee Product Summary and support material can be found at www.nig.com/marsh-commercial 4
Target trades Service, repair, MOT of Cars, LCVs (up to 7.5T) and Motorbikes LPG conversions Car supermarkets Car, LCV and Motorbike sales Motor factors Auto electricians Motorhomes Body repair shops and SMART repair Tyre and exhaust fitters Windscreen fitters Paint spraying 5
Within appetite Agricultural dealerships Service, repair & sales CVs over 7.5T Classic cars Importer / Exporter Coachbuilders / bodybuilders under 7.5T Leasing Collection / Delivery Signwriters Campervan / EV conversion Electric & Hybrid vehicles Valeters Petrol stations with attached motor trade Service, repair & sales mechanical plant Breakdown recovery (under 25% t/o) 6
Outside of appetite Accident Management Racing / Rallying Breakdown recovery (over 25% t/o) Haulage Auctioneers Manufacturers Breakers / salvage yard Self-drive hire Coachbuilders / bodybuilders over 7.5T Fleet management Petrol stations with no motor trade 7
Policy Limits Within Motor Trade One we can offer wide limits of cover to suit the majority of motor trade risks: Property & BI Maximum 50,000,000 TIV per location Up to 30 locations Fidelity Guarantee 10,000 / 25,000 / 50,000 Employers Liability Standard - 10,000,000 Maximum - 25,000,000 Personal Accident Minimum - 10,000 / 100 Maximum - 50,000 / 500 Public Liability / Defective Workmanship Standard - 5,000,000 Minimum - 1,000,000 Maximum - 25,000,000 Road Risks Maximum vehicle value - 1m Wrongful Conversion 25,000 / 50,000 / 100,000 8
Minimum premiums MD/ Public Liability/ Road Risks Minimum Premium = 750 + IPT Including B.I. /Money/GIT/ EL/ Defective Workmanship Minimum Premium = 1000 +IPT 9
Marsh Policy Enhancements The below policy wording enhancements are available via endorsement to all Marsh MTO cases. These enhancements are available from 01/10/22 for new business and 01/01/23 for renewals Unspecified Suppliers Vehicle Components Gross profit limit 25% inc to 33% Employees Portable Hand Tools Maximum value - 2,500 inc to 5,000 Any one claim - 10,000 inc to 15,000 BI - Property in Transit Gross profit limit 5% inc to unlimited Insured s Portable Hand Tools Maximum value - 2,500 inc to 5,000 Road Risks Mis-fuelling cover included Plant, Machinery, Fixtures & Fittings Electric Vehicle chargers and cables included Claims preparation costs Not included in MTO included in Marsh enhancement up to 50,000 single claim limit & 100,000 policy period limit Exhibitions Outdoor exhibits included 10
A great cover combination Specific Endorsements 11
Service model: Claims Our digital platform allows online claim notifications and evidence submissions across all claims Flexible approach to reporting new claims with 24/7 support from adjusters Flexible approach to payment options and methods Knowledge supported by access to a network of specialist teams and suppliers Dedicated claims handling teams deliver proactive claims handling to the customer Experienced Large and Complex Loss Team have developed good relationship with Hamilton Bond on large losses over the years National Claims Relationship team to support servicing, account development and provide a link to all internal stakeholders Claims Relationship team will attend regular claims review meetings and provide supporting Management Information Clear lines of escalation into team leaders and operational managers 12
Risk Management support There are a host of other areas that are covered by this service with keys areas of risk mitigation being: NIG has an in-house Risk Management and in the field Survey team. Site Security Survey reports enhance underwriters ability to provide Portable Heating optimised discounting for clients. Key Conditions of cover Compliance with Health & Safety regulation Identify & remedy common Motor Trader issues such as: Pollution Risk control Underinsurance, Machinery operation safety Awareness of minimum security standards, Ventilation/exhaust for paint spraying areas Lack of required H&S documentation Management of welding gases Outstanding electrical wiring checking regimes. Storage of waste and old tyres High value tools & equipment Proof of ownership in the event of a claim 13
Risk Assist Free to Marsh Policyholders NIG offers Risk Assist, our online risk management platform. It s free to Marsh Motor Trade policyholders giving access to our very latest online risk management proposition suite. Risk Assist covers the spectrum of business risk issues and provides useful tools and information to help businesses manage risk. Risk Assist will be accessible to both Marsh Commercial Staff as well as customers online at www.nigriskassist.com Business Continuity a client can be prepared to manage threats that impact their business and can build their own plan with the actions they need to take to recover efficiently from disruption or disaster. Benchmark building E-valuation A valuable tool pinpoint the right buildings sums insured given the rebuilding cost price surges. Driving Risk Effective management of occupational Road Risk (ORR) E-Learning Training Sector Specific and keeping the Motor Trade workplace safe with accredited eLearning courses for employees. It helps make clients aware of their responsibilities and common hazards in their workplace. Ask the Expert a direct channel to answer your questions about HR matters and Health & Safety regulations. Unlimited access to experts with a guaranteed response time within 24 hours. A-Z guidance on Health and Safety documents, templates audits to help clients keep up with your legal responsibilities for workplace safety. Includes a Covid19 Hub which is kept up to date with the latest guidance. A Tailored Customer Experience in addition to all the great content contained on the site NIG are able to offer a Marsh Commercial specific configuration that enables MC personnel to link into their policyholders who are signed up on Risk Assist. Human Resources round the clock access to information concerning employment matters. 14
Risk Assist Risk Assist: Motor Trade Landing Page 15
Trading support: Online portal Motor Trade Marsh Motor Trade documents are on nig.com. Available documents Motor Trade Motor Trade NIG & Marsh Commercial staff can access via a secure gateway as follows: Motor Trade Login via your browser using the URL: www.nig.com/marsh-commercial Then input the following where prompted: Username: MarshUser Password: c15nj20 16
