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Case study

Protecting your property

Challenge

When Smeg decided to open a flagship showroom in London, they invested heavily in a prestigious building alongside other retailers. They wanted to ensure that they (and all of the contractors on their behalf) had adequate insurance cover. We also identified the need to protect Smeg’s property investment from the outset, before they occupied the building and started trading.

Method

We spoke with project managers to ensure the contract conditions were in place and being complied with. We also discussed proposed management forecasts and budgets — this meant we could arrange insurance protection against business interruption and advanced profit losses before Smeg moved into the property and began trading.

Outcome

We spent considerable time ensuring Smeg were protected; we checked each contractor’s insurance arrangements to ensure they were suitable, and made sure Smeg were protected during the construction work for the fit-out. We persuaded insurers to provide cover for advanced profits and protection for the material investments, once Smeg took over responsibility.

Key contact

Sarah Elson
Account Manager

Email
sarah@venture-insurance.co.uk
Call
0117 325 0649

Smeg UK Ltd switched to Venture for a number of reasons, two of which were experience & expertise. Unfortunate circumstances recently meant we had cause to rely on those qualities in connection with a significant loss. Graham took the call on a Saturday morning and at 9am Monday we had someone on site helping us manage the situation. Insurance is sometime regarded as a necessary evil but we have only positive comment – Venture arranged wide cover on our behalf with a quality insurer who ultimately reimbursed us significant sums without any quibbling. Venture’s support from day one made all the difference and helped us protect our own reputation throughout.”

Cerie Paton

Head of Business Systems

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