Case Study: Wind farm and renewables specialist, experiences dramatic coverage increase: Professional Indemnity limits increase from £1m to £6.5m

Servca was approached by a broker-client to assist in securing terms for an insured who had faced challenges in previous years. The insured had been unable to increase their limit due to a lack of market interest in their risk profile.


January 10, 2024

Computer generated graphic of a green crane on a construction site

Policy Type
Professional Indemnity - Design and Construction

Business Sector
Specialist contractors to wind farm and renewables sectors

Limit of Indemnity

Business turnover

Northern Ireland domiciled, with a large amount of exposure to Republic of Ireland

This provided a significant challenge to the business as they had to reduce their contract values and negotiations on cover limits when tendering for new projects.

Our Solution

To kick off the process, Servca organised an initial video call to delve into the intricacies of the insureds’ business. Our Account Director orchestrated a call with key underwriters, facilitating a direct meeting between underwriters, broker-client and the insured.

During this process, Servca presented a comprehensive overview of the insured's business, leveraging the insights gained from a thorough (complimentary) policy review. This strategic review generated market appetite which was previously absent due to a lack of risk understanding. Furthermore, Servca connected the insured with several leading construction Lloyd’s syndicates. This allowed the underwriters to gain a detailed understanding of the insured's business, contributing to an informed evaluation.

The Result

The Account Directors’ comprehensive efforts were instrumental in successfully increasing the insured's coverage and limit, notably, reducing the cost of the professional indemnity (PI) renewal quotation The client's limit was not merely raised but experienced a substantial jump from £1 million to £6.5 million. This enhancement was accompanied by additional cover enhancements, fortifying the insured against potential risks.

Through diligent fact-finding and risk placement, Servca secured the necessary cover for the client. Notably, this was achieved with considerable savings on the insurance program, reflecting both a financial benefit and strengthened risk mitigation strategy. This enables the insured to operate and grow the business with full contractual insurance coverage, backed by ‘A’ rated underwriting capacity and dedicated claims handling facilities.

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