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BGP Insurance Services

Bespoke insurance schemes for industries

Insurance plays a huge role in driving the British economy. According to the British Association of Insurers (ABI) it manages around a quarter of the UK’s total net worth in the shape of investments valued at some £1.9 trillion. One of the ways it manages to achieve this leading role is by ensuring bespoke insurance solutions to particular industries – insurance which reflects the needs of individual industrial sectors.

The basics

In many ways, the principle of insurance is quite straight forward. Through a process of underwriting, insurers decide what risks they are prepared to insure and what premium is necessary in order to shoulder those risks.

Insurers then stand to make a profit from the premiums earned from insured customers and further income through the investment of those premiums. Against those earnings need to be set the losses incurred through the settlement of insureds’ claims and expenses such as underwriting costs and commissions paid to brokers.

The detail

Specialist insurance brokers, like ourselves here at BGP, play their part by ensuring that the many industrial sectors of the UK’s economy have the protection of insurance tailored to their particular needs. Independent brokers are especially well placed in performing this service because they are able to scour the whole of the insurance market to identify a bespoke solution for the specific needs and requirements of individual industries – and, within those industries, particular, individual companies. A direct insurer, on the other hand, is able to offer you only those products from its own stock and a solution, therefore, which may not be tailored to your specific, individual needs.




Bespoke insurance solutions are critical to a whole range of industries which require cover which is tailored to the particular risks and liabilities they face. The owners of commercial property, for instance, not only need cover which reflects the needs of property as a whole, but also any particular variations depending on its location and whether there is also a need for commercial mortgage protection. If your customers are in engineering or manufacturing, quite different risk management solutions are required and the insurance you arrange needs to reflect these different demands – from the protection of plant and stock, say, to the more specific demands of particular industries such as waste management and recycling.

In the construction industry, contractors’ risks may be the focus of bespoke solutions, with fleet or commercial vehicle protection needing to be included. Across all industries, bespoke solutions are likely to be required for shared areas of concern such as public and employer’s liability, indemnity for directors’ and company officers’ liabilities, professional indemnity, locum insurance, or special cover for complex risks.

Types of insurance

In addition to arranging bespoke solutions, you may also need to exercise judgment in recommending particular types of insurance. These may range between co-insurance solutions, in which the risks are shared between two or more insurers; dual insurance, where the same risks are covered by two or more policies; reinsurance, where some or all or the risk is passed to another insurer, acting in the role of reinsurer; or, self-insurance, where no insurance company is involved, but the risks are retained entirely by an individual company.

For a comprehensive list of trades we cover simply visit the underwriting section of the website or contact us on 020 3460 2370.


Bespoke insurance schemes for industries

Insurance plays a huge role in driving the British economy. According to the British Association of Insurers (ABI) it manages around a quarter of the UK’s total net worth in the shape of investments valued at some £1.9 trillion. One of the ways it manages to achieve this leading role is by ensuring bespoke insurance solutions to particular industries – insurance which reflects the needs of individual industrial sectors.

The basics

In many ways, the principle of insurance is quite straight forward. Through a process of underwriting, insurers decide what risks they are prepared to insure and what premium is necessary in order to shoulder those risks.

Insurers then stand to make a profit from the premiums earned from insured customers and further income through the investment of those premiums. Against those earnings need to be set the losses incurred through the settlement of insureds’ claims and expenses such as underwriting costs and commissions paid to brokers.

The detail

Specialist insurance brokers, like ourselves here at BGP, play their part by ensuring that the many industrial sectors of the UK’s economy have the protection of insurance tailored to their particular needs. Independent brokers are especially well placed in performing this service because they are able to scour the whole of the insurance market to identify a bespoke solution for the specific needs and requirements of individual industries – and, within those industries, particular, individual companies. A direct insurer, on the other hand, is able to offer you only those products from its own stock and a solution, therefore, which may not be tailored to your specific, individual needs.




Bespoke insurance solutions are critical to a whole range of industries which require cover which is tailored to the particular risks and liabilities they face. The owners of commercial property, for instance, not only need cover which reflects the needs of property as a whole, but also any particular variations depending on its location and whether there is also a need for commercial mortgage protection. If your customers are in engineering or manufacturing, quite different risk management solutions are required and the insurance you arrange needs to reflect these different demands – from the protection of plant and stock, say, to the more specific demands of particular industries such as waste management and recycling.

In the construction industry, contractors’ risks may be the focus of bespoke solutions, with fleet or commercial vehicle protection needing to be included. Across all industries, bespoke solutions are likely to be required for shared areas of concern such as public and employer’s liability, indemnity for directors’ and company officers’ liabilities, professional indemnity, locum insurance, or special cover for complex risks.

Types of insurance

In addition to arranging bespoke solutions, you may also need to exercise judgment in recommending particular types of insurance. These may range between co-insurance solutions, in which the risks are shared between two or more insurers; dual insurance, where the same risks are covered by two or more policies; reinsurance, where some or all or the risk is passed to another insurer, acting in the role of reinsurer; or, self-insurance, where no insurance company is involved, but the risks are retained entirely by an individual company.

For a comprehensive list of trades we cover simply visit the underwriting section of the website or contact us on 020 3460 2370.


Bespoke insurance schemes for industries

Insurance plays a huge role in driving the British economy. According to the British Association of Insurers (ABI) it manages around a quarter of the UK’s total net worth in the shape of investments valued at some £1.9 trillion. One of the ways it manages to achieve this leading role is by ensuring bespoke insurance solutions to particular industries – insurance which reflects the needs of individual industrial sectors.

The basics

In many ways, the principle of insurance is quite straight forward. Through a process of underwriting, insurers decide what risks they are prepared to insure and what premium is necessary in order to shoulder those risks.

Insurers then stand to make a profit from the premiums earned from insured customers and further income through the investment of those premiums. Against those earnings need to be set the losses incurred through the settlement of insureds’ claims and expenses such as underwriting costs and commissions paid to brokers.

The detail

Specialist insurance brokers, like ourselves here at BGP, play their part by ensuring that the many industrial sectors of the UK’s economy have the protection of insurance tailored to their particular needs. Independent brokers are especially well placed in performing this service because they are able to scour the whole of the insurance market to identify a bespoke solution for the specific needs and requirements of individual industries – and, within those industries, particular, individual companies. A direct insurer, on the other hand, is able to offer you only those products from its own stock and a solution, therefore, which may not be tailored to your specific, individual needs.




Bespoke insurance solutions are critical to a whole range of industries which require cover which is tailored to the particular risks and liabilities they face. The owners of commercial property, for instance, not only need cover which reflects the needs of property as a whole, but also any particular variations depending on its location and whether there is also a need for commercial mortgage protection. If your customers are in engineering or manufacturing, quite different risk management solutions are required and the insurance you arrange needs to reflect these different demands – from the protection of plant and stock, say, to the more specific demands of particular industries such as waste management and recycling.

In the construction industry, contractors’ risks may be the focus of bespoke solutions, with fleet or commercial vehicle protection needing to be included. Across all industries, bespoke solutions are likely to be required for shared areas of concern such as public and employer’s liability, indemnity for directors’ and company officers’ liabilities, professional indemnity, locum insurance, or special cover for complex risks.

Types of insurance

In addition to arranging bespoke solutions, you may also need to exercise judgment in recommending particular types of insurance. These may range between co-insurance solutions, in which the risks are shared between two or more insurers; dual insurance, where the same risks are covered by two or more policies; reinsurance, where some or all or the risk is passed to another insurer, acting in the role of reinsurer; or, self-insurance, where no insurance company is involved, but the risks are retained entirely by an individual company.

For a comprehensive list of trades we cover simply visit the underwriting section of the website or contact us on 020 3460 2370.


© Bennett Gould & Partners Ltd 2018


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© Bennett Gould & Partners Ltd 2018


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BGP is a trading name of Bennett Gould & Partners Ltd., Registered in England No 1058351 at 18D Ley Court, Barnett Way, Barnwood, Gloucester GL4 3RT, and are authorised & regulated by the Financial Conduct Authority (FCA). Our FCA register number is 306850 and you can check this on the FCA’s register by visiting the FCA’s website www.fsa.gov.uk/register/home.do or by contacting the FCA on 0800 111 6768.