Westcountry Landlords Association is a not for profit organisation run by landlords for landlords.
Membership includes free tenancy agreements, notices and useful standard templates which covers most of the landlord/tenant issues that may arise.
Article by the Bateman Group
Insurance has always been subject to business cycles in the same way as any other business and the early 1990’s had been expected to see a return to profitable underwriting.
However the economy was still stagnant and this did not occur.
Foreign insurers had entered the British market in anticipation of a revival and then found they had to cut rates to buy their market share, at the same time the advent of Direct Insurers increased competition, which resulted in a downward spiral of premium rates which by June 2001 was seeing Insurers and Lloyds syndicates withdrawing from certain areas, as it became impossible to write business at a profit.
The collapse of the Independent Insurance Company was the trigger to a much needed correction which saw a general increase in premiums but this was followed by the WTC tragedy and the huge insurance cost has affected the worldwide market. Normally foreign losses do not directly affect the UK market but on this occasion there have been two side effects, firstly major UK insurers have suffered direct losses and secondly the bulk of the losses have fallen on the Global Re-insurance Market. The latter has had a disproportionate affect on UK premium rates as all insurers re-insure up to 90% of the risks they accept, with the Re-insurers now substantially raising their premiums to recover the losses which are being passed down directly to policyholders. The past 10 years have seen the most dramatic repositioning of the insurance market since the 1960’s.
The intense competition has forced composite insurers to reduce their expenses by closing offices and cutting staff, transferring many of their previous services to Brokers, and have now become wholesalers of insurance products. Amalgamations have reduced choice and more serious still, there has been a marked reduction in underwriting capacity, consequently some insurers are withdrawing from high risk sectors, such as Liability, and those remaining substantially increasing premiums.
All these factors have created an unprecedented turmoil in the market and it remains to be seen whether there are any further shocks in store but we can expect further restructuring over the next few years, after which the insurance scene will be radically changed, with a sharp division between Direct Insurers and the traditional market and a substantial reduction in the number of Insurance Brokers to provide impartial advice.
We live in interesting times.
The company was established by our Chairman in 1967. At that time insurance companies were changing to wholesalers of insurance products rather than providing an advisory service and this created a vacuum, which favoured those brokers prepared to meet this requirement. Since then the market has continued to change and we have concentrated on providing a service for discerning clients who recognise the added value of personal service.
We have grown organically as well as by acquisition. Julian Bateman continues the family tradition and was appointed Managing director in 1998 and has since re-organised the Company to meet the new challenges in the Market and continue to concentrate on our specialist areas. The company is now composed of four divisions covering Commercial, Life and Pensions, Specialist Schemes, and Personal Lines insurance.
Our Schemes Business is expanding rapidly particularly where Landlords are concerned. We handle all administration and claims which means that clients have direct access to our Underwriters and staff instead of having to deal with constantly changing personnel at large insurance companies or their call centres. We are also accessible by Fax, E-mail and our Website.
Our Senior Underwriter, Colin Jarvis is available to discuss individual risks and meet clients anywhere in the UK. The keynote of our business is understanding our clients and their individual needs and providing the solutions at a competitive cost.
We currently employ 24 people with a wide diversity of experience and technical knowledge who can deal with any aspect of your Commercial or Personal Insurance requirements. Our aim is to provide a personal professional service on a long-term basis.
We are small enough to give a personal service but large enough to protect your interests.
Underinsurance Warrantees
Household Insurance
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