Fiducia MGA on Risk Management

Identifying business risks, prioritising and managing them is much easier to talk about than to put into practice.  However, as Brokers appreciate, Risk Management should be a priority for all, be they SME’s or large international businesses,

Why?  Because of the competitive advantage available for those who are proactive, such as:

  • Reduced insurance premiums; either the underlying rates or simply by having an improved loss history and being of interest to a wider insurance market. Similarly, a pre-shipment survey may assist in improving the risk and thus the underlying premium. 
  • Reduce exposure to uninsured losses such as increased cost of working or deductibles.
  • Reduce exposure to regulatory or legislative fines and penalties.
  • Help create efficiencies in a business offering direct cost savings or increased business.
  • Indirect cost savings might include being a more attractive workplace to secure and retain the best talent available.

How Fiducia MGA Services can help

In the first instance, our specialist and experienced Underwriters will offer you a pragmatic insight into what makes an attractive risk. In respect of liability matters we can offer thoughts on your client’s contracts and changes to standard operating terms, how we see them compare to market practice and how for instance a new contract could be negotiated into a fairer balance between risk presented by the contract and the reward (income) available from it. 

Where we can help

For your clients who have large storage facilities or complex legal relationships with their customers.  Businesses who get involved with heavy lifts or difficult lifts may benefit from a pre-shipment survey, or a loading survey.  Perhaps a shipment from a difficult territory.  Customers shipping high value goods may benefit from advice.  Warehouses who are making changes to internal racking may find it useful to discuss replacement sprinkler head types.  Identifying the weaknesses of a supply chain or perhaps couriers writing new contracts for their customers.  All those examples could benefit directly from or through Fiducia MGA, where we can offer real, tangible, professional and experienced help.

Flexible and capable

Risk Management can sometimes be a quick conversation with our experienced personnel or meeting with the client. It can be assistance finding the right specialist Solicitor to write a new contract or help finding the right security product. More often than not however, it is about taking the right skills to your  client’s premises and talking about their business and identifying their risks.  When the need arises, Fiducia MGA works with a panel of qualified, experienced and competent independent Risk Control specialists who can be trusted to help provide an unbiased, reasonable and pragmatic approach. They are experts in their field, whether it be load and stow, transit, pre-shipment or discharge inspections, warehousing, post loss, contractual matters and many more.

Whichever of our products you’re interested in, put your trust in Fiducia MGA to support you and your clients with expertise.  Fiducia MGA has the backing and the capacity from some of the best known, largest and most successful Lloyd’s syndicates.  We are here in the UK, creating new and exciting products for the UK market.  

Interesting Reading

We plan on providing some freely available risk control advice and discussion within our downloads section of the website.

Copyright © 2017 Fiducia MGA. All rights reserved. Fiducia and Fiducia MGA are trading names of The Fiducia MGA Company Limited which is an appointed representative of Ambant Underwriting Services Limited (for general insurance intermediary business), a company authorised and regulated by the Financial Conduct Authority under registration number 597301 to carry on insurance mediation activities