Consilium Introduces Casualty Binder for General Use
In a move aimed at addressing an underserved market segment, Consilium, a global specialty (re)insurance broking business, has launched its first Casualty binder for its UK division, Consilium Risk Solutions. The binder, innovative and unique in its combination of quality paper, speed, service, and competitive premiums, is set to revolutionise the UK contractors market.
The Casualty binder is backed by A-rated delegated authority capacity, ensuring strong financial backing and operational efficiency. It features enhanced policy wordings tailored specifically for UK contractors, improving coverage clarity and suitability. The binder is designed to cater to low and medium-risk contractors, offering broader wordings such as working at height, depth, or high heat exposure.
Luke Browne, a liability and Contractors All Risks expert with over 10 years of experience, has been appointed Senior Underwriter to manage the binder. His appointment underscores the binder’s specialized focus and expertise. Browne, who previously worked at Dual Group, brings with him a wealth of market experience.
"Consilium is an inspirational business filled with talented and driven people," Browne commented. "I have been given a blank canvas, a chance to do things differently, and an opportunity to build something that is truly value, service, and outcome-driven."
Matt Pini, Managing Partner at Consilium Risk Solutions, expressed his delight at welcoming Luke to the team. "Luke brings strong broker relationships and deep market knowledge," he said. "We are confident that his leadership will drive the success of our Casualty binder."
In addition to the Casualty binder, Consilium is also expanding its product range later in the year to include additional lines such as Contractors All Risks, Plant, and Property Casualty. This forward-looking, comprehensive approach underscores Consilium's commitment to delivering speed, service, quality, and competitive pricing to the UK contractors market.
Claims service in this sector of the market is notoriously poor, but Consilium's in-house claims team aims to inject much-needed service into the market. The team, highly regarded for its exceptional advocacy-led approach, will manage claims from the binder.
Meanwhile, Consilium has also unveiled a new global delegated underwriting authority (DUA) service called Exponential. Available to both insurance and reinsurance coverholders globally, Exponential promises to disrupt the prevailing market for binder placements.
Finally, Consilium Risk Solutions is embarking on a UK-wide roadshow, led by its Risk Solutions team. The roadshow aims to provide retail brokers with access to specialist capacity in the Lloyd's and London Market for difficult-to-place risks.
In conclusion, Consilium's Casualty binder stands out as a product innovation aimed at delivering speed, service, quality, and competitive pricing to an underserved sector in the UK contractors market. The binder, backed by A-rated delegated authority capacity, offers low minimum premium levels and enhanced policy wordings tailored specifically for UK contractors. With its specialized focus and expertise, led by Luke Browne, the binder is poised to revolutionise the UK contractors market.
The Casualty binder, an innovative product from Consilium Risk Solutions, is backed by A-rated delegated authority capacity and offers low minimum premium levels and enhanced policy wordings tailored for UK contractors. Luke Browne, the appointed Senior Underwriter, brings market experience and aims to build a value, service, and outcome-driven binder. Consilium is also launching a new global delegated underwriting authority service called Exponential, promising to disrupt the binder placement market.
