Competitive Insurance Solutions

About

Competitive Insurance Solutions is a specialist insurance broker that provides insurance such as professional indemnity insurance, public liability insurance and other insurance specific to your needs. We represent a wide range of underwriting markets to tailor the best insurance for our clients.

Each client is assigned their insurance broker's personal mobile phone number giving them 24/7 emergency service and assistance at no added cost!

We are a national insurance brokerage that is 100% family owned and operated. We work with over 120+ insurance underwriting markets to best serve you!

The harsh reality is that over 50% of businesses fail after a significant loss. Why? Because when a loss occurs, most business owners and/or management teams will already have a full diary and be working at capacity.

The key functions of the management team include looking after customers, staff and suppliers, not to mention the administration duties, such as managing cash flow. When the loss occurs, these functions continue, but now the loss and disruption to the business have to be minimised, as well as rebuilding and replacing equipment; not to mention the insurance claim, which has to be managed carefully to ensure that the full entitlement is received. Each of these tasks are time consuming and stressful, and it is not the time to make a wrong decision!

Insurance companies engage experts in the form of loss adjusters and investigators to protect their interests, and they are in the business of insurance! Having an expert explain all the nuances of the cover to the Insured, assist in loss minimisation strategies, and prepare the claim in accordance with the cover and terms of the policy allows the Insured to do what they do best: look after their customers and concentrate on getting the business back to where it ought to be, as quickly as possible.

When you hear the term Uninsured Risk or Non-insurance this if you elect not to insure a particular risk, such as not to insure a particular motor vehicle you own due to its age and value or to only insure it for Third Party Only Damage then you must stand all such related losses yourself.

Our concern lays not in the fact that you may retain and self insure certain risks, but that you may do so without fully recognising this. You may also not be fully aware of the options and products available to insure or tailor the cover for certain areas of your business or personal assets. These decisions should also be reviewed from time to time in the light of your ever changing circumstances.

An area of further concern is the possibility of the total aggregation of self-insured risks which, in the event of an incident can give rise to a variety of claims. This can sometimes lead to a combined loss figure well above the intended acceptable level of your self insured retention. This can have catastrophic effects to your cash flow.

For example: If you have a business and suffer a fire or explosion at a major location this could involve Fire, Business Interruption, Motor Vehicle Insurance claims as well as damages to Customers goods and Legal Liability. Large claims such as this can also often then incur Liability &/or Workers Compensation claims for injured workers or third parties).

With all of this in mind it makes it ever important to use a broker that you have confidence in and can be assured that they understand all of the differing types of risks & exposures that your business or your family may have. This allows you a thorough risk management plan and gives you an understanding of your risks so that you can make informed decisions.

Whilst it is not ever our intention to push policies onto customers we at Competitive Insurance Solutions believe that it is important that these issues are discussed before a loss occurs and it is too late.