appetite guide PDF
Preview appetite guide
Travelers Appetite Gu ide Overview Products in core appetite Overview Products in Core appetite Products in broad appetite Products up for consideration Additional Information Products in broad appetite Products up for consideration Additional Information Travelers Europe Risk Control Services Global Underwriting UK Corporate Clients 2 Overview This guide is designed to highlight the target industries and the types of organisations that Overview Travelers Business Insurance are most interested in writing and our value-added Products in core appetite services. While we seek customers within the segments listed in this guide, be assured that Products in broad appetite we will continue to consider good risks that fall outside of these boundaries. Full terms Products up for consideration and conditions are contained in our policy wordings. If you have any questions about our Additional Information appetite, products or services, please contact your usual Travelers contact. 3 Office Travelers Office product is designed for a wide range of professional and other office-based clients. Overview Examples of target appetite: Key selling points: Products in core appetite • Accounting and auditing Property damage and • Administration and business services business interruption: > Office • Architects and planning • Exhibitions and conferences - Office - Legal Sector • Banking and finance • Property at partners’ and • Chamber of commerce - Office - Financial Institutions employees’ houses • Consultancy • Umbrella property covers - Property Owners - Commerical • Design services • Undamaged tenants improvements - Public Sector • Draftsmen’s services where the lease is cancelled • Estate Agents following damage - Technology - Electronics • Insurance and reinsurance • Business trips – baggage Manufacturing & Assembly • Investment dealing • Loss prevention and - Technology - IT & Communications • Public relations mitigation expenses • Research - Transportation • Non-violent and forcible theft • Secretarial services • Computer and machinery breakdown • Flexible approach to business Cover available: Products in broad appetite interruption including flexible loss limits • Property damage • Crisis management expenses • Deterioration of stock • Essential Personnel Products up for consideration • Goods in transit • Office Recovery support • Money and personal accident (assault) Additional Information • Business interruption • Computer breakdown • Employers’ liability • Public and products liability • Terrorism • Criminal protection response • Legal expenses 4 Generally excluded: • Fixed and portable electrical equipment that is checked by qualified electrical • Consumer finance companies engineers at suitable intervals • Cheque caching services • Computer systems records that are • Credit card companies frequently backed up to an offsite • Loan Servicing location at least once a week (daily if • Money transmission services Overview significant amounts of data are held) • Pay day lending services • Fire detection and intruder alarm • Travellers cheques issuance services systems with central station connection • Loss adjusters/assessors Products in core appetite • Well trained workforce with training • Private investigation services records signed for and copies retained > Office (except credit) • Low staff turnover and limited use of • Debt collection services - Office - Legal Sector agency workers • Health and safety risk assessment - Office - Financial Institutions Other requirements: undertaken, communicated to the - Property Owners - Commerical • Minimum premium £5,000 +IPT employees and regularly reviewed - Public Sector Note: a risk does not have to have all of - Technology - Electronics Positive Risk Characteristics: these characteristics to be acceptable Manufacturing & Assembly The following risk characteristics are - Technology - IT & Communications considered positive features, please highlight such features when presenting - Transportation an enquiry to us and we will take them into consideration when determining our appetite and pricing. Products in broad appetite • Clients who fully understand the hazards associated with their trade & Products up for consideration are looking to work with insurers to control/minimise exposure • Established and financially strong Additional Information companies who are able and willing to invest in their business. • Modern or refurbished premises that are suitable for the current occupation and well maintained. • Proactive and documented control of third party contractors working on premises including control of hot work 5 Office - Legal Sector Travelers Legal Sector product is designed for a wide range of professional legal clients. Overview Examples of target appetite: Key selling points: Products in core appetite • Solicitors • Billable hours coverage • Barristers • Irreplaceable and Essential Documents - Office • Notaries • Unlimited maximum indemnity > Office - Legal Sector • Paralegal services period and flexible limit of loss - Office - Financial Institutions covers available (optional) Cover available: • Conveyancing (optional) - Property Owners - Commerical • Probate, trustee and • Property damage - Public Sector Guardian (optional) • Deterioration of stock • Office Recovery support - Technology - Electronics • Goods in transit • Exhibitions and conferences Manufacturing & Assembly • Money and personal • Property at partners’ and accident (assault) - Technology - IT & Communications employees’ houses • Business interruption • Umbrella property covers - Transportation • Computer breakdown • Value of undamaged tenants • Employers’ liability improvements where the lease is • Public and products liability cancelled following damage Products in broad appetite • Terrorism • Business trips – baggage • Criminal protection response • Loss prevention and • Legal expenses Products up for consideration mitigation expenses • Non-violent and forcible theft • Computer and machinery breakdown Additional Information • Crisis management expenses • Essential Personnel 6 Generally excluded: • Computer systems records that are frequently backed up to an offsite • None location at least once a week (daily if significant amounts of data are held) Other requirements: • Fire detection and intruder alarm • Minimum premium £5,000 +IPT systems with central station connection Overview • Health and safety risk assessment undertaken, communicated to the Positive Risk Characteristics: employees and regularly reviewed Products in core appetite The following risk characteristics are considered positive features, please Note: a risk does not have to have all of - Office highlight such features when presenting these characteristics to be acceptable > Office - Legal Sector an enquiry to us and we will take them into consideration when determining our - Office - Financial Institutions appetite and pricing. - Property Owners - Commerical • Clients who fully understand the - Public Sector hazards associated with their trade & are looking to work with insurers to - Technology - Electronics control/minimise exposure Manufacturing & Assembly • Established and financially strong - Technology - IT & Communications companies who are able and willing to invest in their business. - Transportation • Modern or refurbished premises that are suitable for the current occupation Products in broad appetite and well maintained. • Proactive and documented control of third party contractors working on Products up for consideration premises including control of hot work • Fixed and portable electrical equipment that is checked by qualified electrical Additional Information engineers at suitable intervals 7 Office - Financial Institutions Travelers Office product is designed for a wide range of professional and other office-based clients. Overview Examples of target appetite: Key selling points: Products in core appetite • Accounting and auditing Property damage and • Administration and business services business interruption: - Office • Architects and planning • Exhibitions and conferences - Office - Legal Sector • Banking and finance • Property at partners’ and • Chamber of commerce > Office - Financial Institutions employees’ houses • Consultancy • Umbrella property covers - Property Owners - Commerical • Design services • Undamaged tenants improvements - Public Sector • Draftsmen’s services where the lease is cancelled • Estate Agents following damage - Technology - Electronics • Insurance and reinsurance • Business trips – baggage Manufacturing & Assembly • Investment dealing • Loss prevention and - Technology - IT & Communications • Public relations mitigation expenses • Research - Transportation • Non-violent and forcible theft • Secretarial services • Computer and machinery breakdown • Flexible approach to business Cover available: Products in broad appetite interruption including flexible loss limits • Property damage • Crisis management expenses • Deterioration of stock • Essential Personnel Products up for consideration • Goods in transit • Office Recovery support • Money and personal accident (assault) Additional Information • Business interruption • Computer breakdown • Employers’ liability • Public and products liability • Terrorism • Criminal protection response • Legal expenses 8 Generally excluded: • Fixed and portable electrical equipment that is checked by qualified electrical • Consumer finance companies engineers at suitable intervals • Cheque caching services • Computer systems records that are • Credit card companies frequently backed up to an offsite • Loan Servicing location at least once a week (daily if • Money transmission services Overview significant amounts of data are held) • Pay day lending services • Fire detection and intruder alarm • Travellers cheques issuance services systems with central station connection • Loss adjusters/assessors Products in core appetite • Well trained workforce with training • Private investigation services records signed for and copies retained - Office (except credit) • Low staff turnover and limited use of • Debt collection services - Office - Legal Sector agency workers • Health and safety risk assessment > Office - Financial Institutions Other requirements: undertaken, communicated to the - Property Owners - Commerical • Minimum premium £5,000 +IPT employees and regularly reviewed - Public Sector Note: a risk does not have to have all of - Technology - Electronics Positive Risk Characteristics: these characteristics to be acceptable Manufacturing & Assembly The following risk characteristics are - Technology - IT & Communications considered positive features, please highlight such features when presenting - Transportation an enquiry to us and we will take them into consideration when determining our appetite and pricing. Products in broad appetite • Clients who fully understand the hazards associated with their trade & Products up for consideration are looking to work with insurers to control/minimise exposure • Established and financially strong Additional Information companies who are able and willing to invest in their business. • Modern or refurbished premises that are suitable for the current occupation and well maintained. • Proactive and documented control of third party contractors working on premises including control of hot work 9 Property Owners - Commercial Buildings are a property owner’s key business asset. Even a seemingly minor property loss can impact the occupancy Overview of a building, while a major event can have a serious and detrimental effect on the operation and financial condition of Products in core appetite the business. At Travelers we understand the wide and varied - Office exposures faced by the property owners industry and have - Office - Legal Sector designed a bespoke product to protect our customers against - Office - Financial Institutions a range of exposures. > Property Owners - Commerical - Public Sector Examples of target appetite: Key selling points: - Technology - Electronics • Offices • Underinsurance condition waiver Manufacturing & Assembly • Shops where professional valuations are • Industrial/commercial/ undertaken every 3 years and - Technology - IT & Communications manufacturing premises Buildings item is Index Linked - Transportation • Warehouses • Fly tipping • Inadvertent omission to insure Cover available: • Loss of metered water, gas, Products in broad appetite oil and electricity • Property damage • Loss of keys • Rent • Loss of investment value • Terrorism Products up for consideration • Loss of market value • Employers’ liability • Loss prevention and • Public and products liability Additional Information • Legal expenses mitigation expenses • Removal of bee, wasp and hornets nests • Trace and access • Failure of third party insurance • Loss of rent following computer virus or hacking event • Pre-claim employee rehabilitation expenses 10
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