|Product||Contractors Commercial Combined and Commercial Combined|
|Product Manufacturer||Joint Carrier & MGAM|
Product Approval Process
The POG concluded that the product is suitable for the target businesses/SMEs responding to their exposure to a broad range of legal liabilities arising from their activities, particularly work undertaken away from their main premises.
Who this Product is suitable for:
Small / Medium business manufacture/wholesale/Building and Construction businesses with their own premises and may require Contractors All Risk. These risks tend to have the main exposure on their own premsies however may have exposure away from the premises which lends itself to an increased exposure to a Public Liability Claim. Manufacturing risks also have a increased risk tio Products Liability claims as they are manufacturing a product, whether that be furniture or food stuffs. Property may also be taken off site and/or be in transit. Depending on the nature of production, processes and the geographical spread of the insured and their premsies the insured could be theft attractive and or have a high exposure to fire which would therefore put the insured also exposed to business interruption.
Who this Product is not suitable for:
Consumers – any natural person purchasing a policy which is unrelated to their trade and/or occupation.
Building and Construction Trades who already have standalone Contractors All risk policy may have more complex needs and the MGAM CAR section may not be suitable
Product Suitable Distrubution Strategy
|Sold directly to customer by our firm||No|
|Sold to the customer via Appointed Representative||Yes|
|Sold via other intermediaries between us and the end-customer||Yes|
|Sold via a comparison website||No|
|MGAM Delegated Authority (Transactional)||Yes|
|MGAM B2B2B Quote & Bind Platform||No|
|MGAM B2B2C Quote & Bind Platform (first party system)||No|
|MGAM B2B2C Quote & Bind Platform (third party system)||No|
|Sub Delegated Authority (Coverholder)||Yes|
|Coverholder B2B Quote & Bind Platform||Yes|
|Coverholder B2C Quote & bind Platform||No|