Mike Langton, Commercial Director of Jardine Lloyd Thompson UK Ltd, says “off the shelf” insurance programmes can have serious financial repercussions.

He says the actual broking of a fleet is only small part of the exercise. As with an iceberg, the major parts - programme design, projections and costings - often go unseen and are likely to cause the most financial damage if ignored.

“Without these vital processes your insurance may not be cost-effective, appropriate to your needs and, in the worst case, adequately cover you in the event of a claim. An effective insurance programme can help your business navigate the potentially treacherous financial waters”, he said.

 “Understanding your business and attitude to risk is critical to the broking process, as there are a significant number of combinations and permutations of insurance purchase.
“Risk and claims management are of course inextricably linked to the programme design.

“A good insurance broker will not change their approach to fleet insurance purchase whenever the market changes: the attention to detail will remain the same.”