Macbeths Specialist Insurance Brokers - Unique Insurance

Five Reasons Why You Might Require Specialist Insurance

If you have ended up on this page there is a good likelihood that you have a need for either niche or specialist insurance. The direct insurers certainly have their place, especially if the price of the premium is your main concern, they are able to “guarantee to beat your existing premium” by catering for risks that are standard rather than the unusual. The acceptance criteria imposed by the direct insurers is also going to be very tight and any deviation from the norm will probably result in a no quote.


So why would there be a need for specialist or niche insurance. Here are our top 5 reasons:

Type of business or occupation

Some businesses and occupations are so different that they are not going to fall within the set acceptance criteria that most insurers are looking for. If an insurer cannot understand the potential risks, it is easier for them to decline a risk than accept it. The advantage of using a specialist insurance broker is that they will have access to a panel of insurers that are likely to be more flexible and will know the questions to ask that present the risk accurately, so that the insurer can make an informed decision. We have arranged cover for a wide range of different businesses and occupations, from a company making replica weapons to a steeple Jack to a company providing goat yoga classes!

Type of work

Sometimes the type of work is a “no no” for the standard markets. This could include companies working airside, rail side or even at an offshore installation. If the work process involves work at height or the use of direct heat this is also likely to result in a decline from the standard markets. As a specialist insurance broker we have access to insurers that will happily consider all such risks.

The need for specialist cover

Some sectors have a need for specialist insurance cover. Some examples would be:

  • Recruitment companies – vicarious liabilitydrivers negligence cover
  • Cleaning contractors – damage to property being worked on – security of customer premises
  • Security companies – financial loss cover – wrongful arrest cover
  • Social welfare – cover for acts of abuse/ alleged abuse
  • Medical device manufacturers/distributors- efficacy (failure of a product to carry out its intended function) – cover for clinical trials

Previous history

Any sort of adverse history is likely to put off the direct insurers. This could be previous claims or a previous history in terms of a bankruptcy or insolvency. Previous criminal convictions will also cause issues when it comes to arranging insurance. By using a specialist insurance broker you will have the best chance of gaining cover, especially if there is some background information that can be used to allay the insurers concerns. In terms of claims, post loss risk management information can be crucial.

Unusual assets

Covering unusual assets can sometimes be a challenge. We have previously covered vehicles that have been converted into catering and advertising units and even a hovercraft. We have also worked with a number of medical practitioners, covering portable medical equipment on an “all risks” basis.

Whatever your specific needs, however weird or wonderful, we are always happy to have a conversation. Even if we cannot help we are happy to try and point you in the right direction of a more specialist insurance broker.

For more information about specialist insurance and niche insurance contact Tony Gibbs at our Reading office on 0118 9165485 or complete our enquiry form at the top of the page.


Author: Tony Gibbs | August 1st, 2018

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Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767