Posted on 26 Jun 2009
The British Retail Consortium (BRC), the leading trade organization for UK retailers, and Willis Limited, the UK arm of Willis Group Holdings, the global insurance broker, on Thursday announced a strategic alliance that offers a range of bespoke insurance services to BRC retail members.
As part of the exclusive arrangement with the BRC, all BRC retail members will receive a complimentary review of their current insurance coverage and a detailed report on the extent of the cover required and how Willis can help reduce their insurance costs. Coverage areas assessed in each customised report include:
* Property, Business Interruption
* Liability (Employers’, Public/Product)
* Brand Protection
* Goods in Transit/Marine covers
* Motor Fleet
* Directors’ & Officers’/Pension Trustees Liability
* Cyber Liability
* Employee Benefits
With deep background and experience in retailing, the insurance experts who form the Willis Retail Practice understand the specific needs of the retail sector and can apply that expertise to finding the most productive and cost-effective insurance and risk management solutions for clients. Willis already provides its services to many major retailers and also offers a wide variety of added-value services such as checking landlords’ premiums, logistics review and business continuity planning.
Brendan McManus, CEO of Willis UK & Ireland, said, "Willis has been a leading insurance broker and risk management advisor to the retail sector for many years and we are delighted to have been appointed by the British Retail Consortium to promote a retail insurance facility to their membership. Willis is taking the initiative in developing strategies to help retail businesses positively differentiate themselves in terms of proactive risk management and robust claims defensibility."
Employing a team of specialists for the retail sector, Willis has the ability to benchmark retailers (on a confidential basis) in terms of premium spend, extent of cover, limits of liability, claims ratios and levels of self insurance – powerful information for any retailer looking to contain cost in the current economic environment.
Tessa Kelly, Commercial Director from the BRC, commented, “Willis’ expertise in this field makes them an ideal partner to offer a range of specialist insurance services. With their established credentials within the retail sector, we are confident they can provide bespoke and cost-effective insurance solutions for BRC retail members.”
About the British Retail Consortium (BRC)
The British Retail Consortium is the lead trade association representing the whole range of retailers, from the large multiples and department stores through to independents, selling a wide selection of products through center of town, rural and virtual stores.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 20,000 Associates serving clients in some 190 countries.