MGA expands combined liability coverage to include contractors

Leeds-based MGA Fiducia has expanded its risk appetite for combined liabilities insurance to include coverage for contractor clients in the UK.

The propostion, which is backed by A-rated capacity, will target builders, groundworkers, plant hirers, skip hirers, as well as contractors for electrics, plumbing, heating and ventilation.

Fiducia underwriter David Heeney said it had expanded its combined liabilities product after seeing a “high uptake” from broking partners ”serving clients involved in supply chain and logistics operations”.

”So, it makes sense to broaden our horizons and to complement our core engineering products,” he added.

“In addition, a significant draw is our continued ability to meet the needs of clients who are facing substantial rate increases despite having a low risk profile by underwriting and pricing on an individual risk basis.

“By expanding our risk appetite to cover a wider range of activities, we can support broking partners by ensuring they are equipped to provide competitive cover with market leading capacity and service levels.”

’One stop solution’

In addition to combined liabilities insurance, Fiducia also offers a commercial combined policy.

This protects contractor clients against material damage, business interruption, business all risk and commercial legal protection. The policy is primarily aimed at SMEs, though it is adaptable for larger risks.

Fiducia chief executive Gerry Sheehy said expanding its combined liabilities product ”gives us the ability to offer a one stop solution for combined liability, commercial combined, contract works and contractors plant”.

“We’re looking forward to working with our broking partners who have existing clients and business due for renewal in the trades we can now support, or who are exploring new market opportunities,” he added.