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Parsons Reiss |
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Parsons
Reiss has been trading for 30 years from its engineering
base in Radcliffe, near Manchester, and has been a
member of the EEF for some time. Chris Wright, General
Manager, looks after the insurance issues for the
business.
Chris says, “When we heard about the EEF’s new insurance
service, exclusively for members, I thought it would do
no harm to invite EEF Insurance Services in for an
initial discussion. Whilst we had no major issues with
our insurance broker at the time, I took the view that
if the EEF has backed a service like this, then I’d
expect it to be a strong offering.”
EEF Insurance Services organised an initial review
meeting to discuss the insurance requirements of Parsons
Reiss and identified areas where cover could be
improved. They also looked into an issue that had arisen
with the existing property insurers, who required an
electrical inspection to be carried out.
“This initial meeting was very useful and the EEF
Insurance Services account executive was able to quickly
identify the key areas that I wanted them to review. We
agreed they would return ahead of renewal with their
proposals and we both knew they would only win the
business by demonstrating they had something better to
offer,” says Chris. |
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IEEF Insurance
Services carried out a broking exercise with its panel of
insurers, prepared a detailed report and returned to present to
Chris who said, “I was very impressed with their presentation.
Clearly a lot of work had gone into it and, more importantly,
their proposals offered a number of real benefits:
Our premium spend
reduced approximately 30% on last year
The offer included a
pricing stability pledge on our core covers that gives me
greater peace of mind over our future premium levels
We can benefit from
a further premium saving of nearly 10% with some pre-agreed
improvements in our health and safety practices – and we have
the comfort of knowing that EEF can help us achieve these
quickly |
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EEF Insurance
Services sourced a much cheaper solution for our electrical
inspection that saved us close to £2,000
Our policy cover was
improved
In addition to all
of the above, I also have the added bonus of saving 25% off our
EEF membership subscriptions going forward,” says Chris.
EEF Insurance Services were delighted to win this account.
Darren Barrett, account executive says, “Parsons Reiss is a good
demonstration of the benefits that EEF Insurance Services can
provide to EEF members.
Central to our innovative approach is ensuring members benefit
from improved premium terms when they demonstrate a commitment
to improving health and safety and loss prevention in their
business.
Our unique benchmarking system ensures this is possible. Also,
with industry commentators widely agreeing that commercial
insurance rates are likely to increase in 2008, our premium
stability pledge has real value for members too.” |
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