She adds that further discounts have been specifically arranged for members of certain professional trade bodies and these can all be found on the site of this website. The Insurance Café is also one place where Guaranteed Asset Protection (GAP) insurance can be bought, she says. A lesser-known form of insurance cover, it may appeal to visitors to the site who are thinking about buying themselves a vehicle. Siobhan explains, “If this vehicle is then stolen, or if they are involved in an accident and their motor insurer deems the vehicle to be a write off, this added value cover will compensate the policyholder concerned to the amount that the vehicle was worth at the time of the loss - also known as 'market value',” she says. “Because of depreciation, this will be lower than the price originally paid. GAP insurance covers against this, essentially filling the 'gap' between the vehicle's market value - or what it would have cost were it to have been put on the market just before the accident - and the vehicle's value when it was purchased. In the event of a valid claim, the GAP insurance cover will also pay out on any outstanding finance debts, if applicable,” she explains. Visitors to the Insurance Café can also post job or contract opportunities onto message boards, where members of their own or other professional groups may be able to assist directly, according to Siobhan. “Existing or potential policyholders can browse a growing range of competitive personal insurance products that we hope will be of interest to them. In many cases, further discounts have been arranged on already highly competitive policies on behalf of dozens of classes of trusted professionals including dental nurses, engineers, accountants, company secretaries and speech therapists, as well as for members of certain professional trade bodies,” she says. Plans are afoot to widen the scope and appeal of the café in the coming months, she says. “The Insurance Café is already proving to be a great destination for new as well as existing clients,” she adds. While serving professional clients throughout the United Kingdom, TRM attributes much of its success to the location of its offices, right in the heart of the insurance market in the City of London, situated just walking distance from some of the world’s finest, most competitive underwriters. Kelvin says this means his team members can meet at short notice face to face with those insurers who are ultimately the ones who can provide cover, as well as to discuss new terms with others, and to come up with the highest possible quality of insurance products for their clients. “TRM’s considerable experience in the insurance market, combined with the trust we have built up since the mid-1990s, mean that we have access to the best and most established insurance providers,” explains Kelvin. “It enables us to negotiate for some of the most competitive rates and for the most comprehensive available insurance cover for our customers.” Furthermore, he claims, historically TRM has always been ahead of the rest of the London insurance broking market when it comes to the practical deployment of digital technology. He explains, “We were one of the very first professional indemnity brokers to move onto a complete, end-to-end online trading platform. Our achievement is in the provision of a fast, easy to use system, ensuring that those applying for insurance spend as little time as possible in securing the correct cover for their needs, at the right premium. We do this by only asking questions seeking information necessary for insurers to quote - and nothing more.” He adds, “The popularity of our insurance schemes is testimony to the fact we have struck the right balance between the formality of application and the delivery of sound insurance cover.” For the last five years, the cyclical insurance market has been going through a tough period, or a hard market, as it’s known in the trade. Such a condition is brought about by an upswing in the insurance market cycle when the cost of insurance premiums rises, coverage terms are restricted and capacity for most types of insurance decreases. But Kelvin says, “We have ridden the storm well and we have come out stronger than ever, not least by minimising costs for all concerned.” As TRM accepts its SME News award, reports have been coming in of a softening in the market led by certain sectors, chief among them in the cyber insurance field. “This is great news,” says Kelvin. “It means our leading cyber insurance product is set to become even more costeffective for policyholders. As the rest of the market softens it will be more good news all round for everyone,” he concludes. Contact Details Contact: bill@trafalgar.uk.com Company: Trafalgar Risk Management Ltd Web Address: www.trafalgarinsurance.co.uk
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