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BCIP LAUNCHES FIRST COMBINED RISK MANAGEMENT PROCESS COUPLED WITH COMPETITIVE BUSINESS INSURANCE
* Helps SME’s mitigate business risks, keeps premiums to a minimum and
delivers fast claim settlements *
LONDON – UK, 9th July, 2008: BCIP today announced the launch of its new combined risk management process and business insurance offering, which has been designed by the company’s seasoned team of insurance executives, to cater for the specific insurance and business continuity needs of the UK’s SME community.
BCIP’s offering is unique in the UK marketplace as it proactively encourages companies to take an honest and detailed look at potential operational risks and then provides a series of recommendations, following a detailed site visit, to help mitigate them. Once the suggestions have been reviewed, BCIP may provide the client with access to appropriate and competitive insurance tailored to the business and its risk-managed status underwritten at Lloyd’s.
BCIP believes that Companies that act on their business continuity and risk management advice are less likely to have to make a claim as more of their risks will have been assessed and managed. Through BCIP, the insurers also protect the Company’s cash flow, to support continued trading, by an initial on-account claim payment of up to 50% of the business interruption sum insured, 20% thereof within 14 days of the claim being reported.
The above protects clients against one of the greatest areas of vulnerability for SME’s - allowing continued trading and enabling a return to normal operations with the lowest amount of interruption.
Grant Elliott, Chief Executive of BCIP, comments; “Today’s launch heralds a new level of maturity in the corporate insurance market – helping SME’s take more control over their destiny by actively protecting against potential business risks, and rewarding them with competitive quotes, superior insurance protection and prompt claim settlement when they have the appropriate business continuity measures in place. We’ve seen similar initiatives in consumer health insurance, where those who exercise regularly are rewarded with more relevant insurance and lower premiums. It’s all about taking a common-sense approach that creates a win-win environment for businesses, brokers and insurers.”
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About BCIP
BCIP is run by leading figures from the insurance and risk management sectors. The company was formed in September 2007 to cater for the specific insurance and business continuity needs of SME’s in the UK. The company prides itself on offering real value to customers through an integrated approach to risk management, business continuity and insurance. For more information, please visit http://www.bcip.co.uk
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Caroline Corfield-Rose
Tel: +44 (0) 1923 839 375 / 07979 706 553
Email: cc@totalmarketingnetwork.com