We actively place business with more than 35 insurance companies, Lloyd's Syndicates and MGA’s (Managing General Agents).
The arrival of new players in the insurance market has increased competition, but not all insurers are of the same quality, particularly in respect of their financial security.
Financial security of insurers is an important consideration, since there have been a number of financial failures in the past.
Long term financial security of insurers is important for the professional indemnity and directors and officers liability market because claims can take many years to settle.
Bluefin therefore ensure that our clients are only placed with insurers who meet our strict financial security criteria, only using insurers who have been approved by our Security Committee.
Applying these criteria strictly is very important in current economic times, since it is essential that new entrants to the market (both insurers and underwriting agencies) have adequate backing and resources to meet their future commitments.
Such an approach is essential to ensure the long term security of claims being paid.