News

CITYNET APPOINTS INDUSTRY VETERAN TO ITS MOTOR TEAM

Simon-Fitter

Citynet Insurance Brokers has appointed Simon Fitter as an Account Executive within its growing motor fleet operation.

Simon has been involved in the motor insurance industry since 1985 and was originally an Underwriter at Paladin Motor Policies before moving on to hold senior underwriting positions at Brit, Markel, and Newline. Since 2013 he was Head of Motor for Direct Insurance London Markets (DILM)

The biggest change I have witnessed in the Motor Fleet sector throughout my career, has been the demise of Lloyd’s Syndicates, the rise of MGA’s and the dominance of company markets which we have had to adapt to,” said Simon. “Challenges that brokers have faced in recent years, have been keeping up with the changing markets, their capacity and business appetite to name but a few, however, as long as we maintain and develop relationships and have a clear understanding of their product this can be overcome. On this note, I am extremely excited to join Citynet’s team and help develop further their fleet account.”

Citynet’s motor fleet division has grown dramatically in recent years. The exceptionally strong relationships with the carriers and the very broad market access have made us one of the leading fleet wholesalers in the London market.

Andrew Walsh, Managing Director commented, “I have known Simon for a long time, and I am acutely aware of his ability. He made the transition from a Lloyd’s Box Underwriter to full-time broker look easy and has quickly become one of the motor markets most respected individuals. 

This is the strongest motor team that I have been involved with, a bold statement when you consider that my 20 years plus experience has been spent working within wholesale brokers who specialise in this class. Our growth across the business is almost exclusively due to our ability to negotiate in the London motor market, an even greater achievement when you consider that we still represent far fewer UK retailers when compared to our competitors. 

We are fast becoming the broker of choice when it comes to placing motor business and I expect that Citynet will be market-leading in this class over the years to come.”

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Lloyd’s proposed transfer of certain EEA insurance business to Lloyd’s Brussels

Lloyds of London

 

Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels. The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies. Further information about the proposal (including whether it could affect your pre-transfer position), which policies are transferring, your rights and what you need to do can be found at  lloyds.com/brexittransfer

 

Should you have any queries please contact Mark Crisp at mark.crisp@citynet.eu.com or call 020 7488 6708

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New Facility Available

 

Here at Citynet, we understand the difficulties your clients are going through during these unprecedented times.

Behind the scenes, we have been working hard with our existing insurers to manage your clients’ insurance requirements, as well as continuing to explore new markets.

Citynet Insurance Brokers are pleased to confirm that we can now offer insurance solutions in partnership with Convex under our new facilities. Convex was launched to the market last year with $1.7bn of initial committed capital to underwrite insurance for complex specialty risks.

The company, set up by Stephen Catlin and Paul Brand, has an A.M. Best rating of A- (Excellent).

Citynet has long-standing relationships with the underwriters who have recently joined Convex, which allows our team of brokers to negotiate the best possible deals for your clients. Citynet and Convex can provide insurance solutions for your clients within the Construction, Entertainment/Leisure, Manufacturing, Engineering, and Transportation industries, amongst many more.

Here at Citynet, we more than fully understand your clients’ needs and provide you with the specialist knowledge and expertise you need, when you need it.

Matt Carlick Broking Director Citynet

For more information about our New Facility, please contact our Broking Director – Matt Carlick by using the below contact details: 

07890 545 417
matthew.carlick@citynet.eu.com

 

 

 

 

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Citynet’s annual BIBA networking event is now being cancelled!

 

Since the Coronavirus outbreak forced the UK into a series of measures centred around social distancing and limiting the gathering of large groups – it is now official: the British Insurance Brokers’ Association (BIBA) has announced the cancellation of its annual conference, which was due to take place on 13 -14 May in Manchester.

In a statement issued yesterday, the Association noted that it looked forward to seeing everyone “at BIBA 2021,” indicating that the event was being cancelled outright for this year rather than being postponed.

In light of these changes, and the latest Coronavirus developments, we are sad to inform you that our BIBA Networking event at The Rain Bar in Manchester is now being cancelled for this year.

Please accept our apologies for any inconvenience this has caused but the wellbeing of everyone takes priority in these extraordinary circumstances.

Thank you for your understanding.

Take care of yourself and yours!

Kind regards,

Citynet Insurance Brokers

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Motor fleet schemes update

MOTOR FLEET SCHEMES

ARE YOU HAVING PROBLEMS WITH PLACING YOUR CLIENTS’ MOTOR BUSINESS?

In these unprecedented times, we need to find a bit of normality whilst we adapt to these extreme circumstances.

Citynet Insurance Brokers are still open for business and would like to keep you updated on the latest developments within its Motor Fleet Schemes Division.

We tailor bespoke solutions for your clients’ Motor Fleet needs.

COURIER MOTOR BUSINESS

  • Any Licensed Drivers
  • No residency clause
  • Extended cover for all in-vehicle technology
  • Extended trailer cover
  • Including “Tool of the Trade” cover
  • Extended cover for vehicle Livery/Signwriting
  • Automatic inclusion for drivers with convictions, subject to £250 excess and those with suspensions subject to £500 excess
  • Built-in automatic bonus for good performance
  • Long Term Agreements Available

 

ARE YOU HAVING TROUBLE PLACING ‘WORKING VEHICLES’ REQUIRING

‘TOOL OF THE TRADE’ COVER?

Citynet has got the solution for you and your clients. 
Click here!

 

MOTOR SCHEMES SPECIALIST KNOW-HOW!

If you have Motor Fleets with vehicles that are involved in Loading, Unloading, Shredding, Lifting, Mixing, Tipping from Cement Mixers, Cherry Pickers, Cranes to Tippers, etc. you guessed it…WE HAVE A SOLUTION!

Covers include but are not limited to:

  • Any Licensed Drivers
  • Extended cover for all in-vehicle technology
  • Extended trailer cover which includes fitted machinery, plant and forklifts
  • Including “Tool of the Trade” cover
  • Including Third Party cover for Solidification, Contamination, Spillage and Pollution, subject to £1,000 excess
  • Automatic inclusion for drivers with convictions, subject to £250 excess and those with suspensions subject to £500 excess
  • Includes Tipping and Toppling incidents
  • Extended cover for all in-vehicle technology
  • Extended cover for vehicle Livery/Signwriting
  • Includes full cover whilst the vehicle or trailer is being used as a “Tool of the Trade” and requires the keys in the ignition for operation
  • Includes Goods in Transit cover for Cement Mixers and Batching units and extending to incorporate Solidification of load
  • Built-in automatic bonus for good performance
  • Long Term Agreements Available

 

Please send your enquiries to motorschemes@citynet.eu.com

or call us direct on 07766 314 968

Additionally, if we can help you on a package basis, please feel free to show us all the other covers.

We look forward to helping you place your clients’ business.

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Coronavirus – Citynet Business Continuity Plan

 

Whilst we are all naturally concerned over the ever growing spread of the Coronavirus, it is of huge importance to us that we are able to fulfil our commitment to you and your policyholders in delivering you with a first-class service.

Our London Market operation has a business continuity plan in place that enables our people to operate from anywhere in the UK by remotely accessing all systems, files, enquiries and communications.

The London Insurance Markets response to this issue varies from Insurer to Insurer but like ourselves, they possess the technology that enables them to bind cover, respond to enquiries and transact their day-to-day business without interruption.

In the unlikely event that your usual day to day contact has to self-isolate, you will receive further communication from us that will direct you to one of our many account executives or handlers that will be ready to assist you with your enquiries or administrative queries.

A copy of this communication will be published on our website which I would encourage you to visit at www.citynet.eu.com, giving you an opportunity to acquaint yourself with the Citynet team and the suite of services that we can offer you and your clients.

Our combined London Market team is one of the largest in the UK Wholesale environment, giving you the comfort that we are capable of looking after your policyholders in the event of a crisis.

 

Kind regards,

Andrew M Walsh
Managing Director

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Building broker business in the construction insurance sector

Citynet-Construction insurance sector

In the midst of chaos, there is opportunity!

The famous quote from Sun Tzu in The Art of War may not have been intended for the insurance industry – but it is one that stands applicable especially now in relation to the construction sector where the building blocks appear to be crumbling. The July 2019 IHIS Markit construction purchasing managers’ index dropped to its lowest levels since April 2009.

“According to the latest survey of industry executives, the UK construction sector is suffering a loss of momentum, led by the sharpest reduction in new work since March 2009,” Matt Carlick, Broking Director at Citynet Insurance Brokers, told Insurance Business. “As the market tightens, some insurers are looking into decreasing the number of brokers they do business with.”

At the heart of the problem appears to be a shortage of skilled workers, leading to greater use of LOSC and BFSC contractors, according to Carlick.

“Greater use of lower-skilled or non-skilled workers who tend to be less experienced in a particular trade or are new to a company and therefore less aware of the H&S culture of an insured,” he said. “Due to a skilled worker shortage, there is a danger that the cost for these employees increases which can negatively affect profit margins and therefore the funds available for investment in H&S initiatives.”

Amid the clouds, however, there are plenty of silver linings – and savvy brokers have plenty of opportunities to be the cement that keeps businesses watertight amid the onset of economic bad weather.

“Despite the comments about retrenchment in the UK construction sector, underwriters would suggest that they are seeing small organic growth for London and South East based risks,” added Carlick. “This also means an increase in estimates for LOSC and BFSC payments which bring their own insurance issues with them.”

“Of course, there are concerns about the current business outlook and these are overwhelmingly attributed to domestic political uncertainty,” continued Carlick. “The construction sector hasn’t been left unaffected by this current climate. Rising risk aversion and tighter budget setting by contractors in response to Brexit uncertainty can hold back activity, especially in the commercial sub-sector.

“The key is to work with a specialist – and, as wholesale brokers, Citynet has a proven ability to build and maintain relationships with underwriters which is essential to ensuring that the best deal is on the table for our retail broker clients.”

Finding the best deal also means finding the right policy for clients. While each business will have different individual needs, Carlick believes there are certain important areas of a construction policy that every broker should look for.

“Important areas of a construction policy include cover for asbestos; attitude towards criminal defence costs; height and depth limits – ideally there should be none; cover for hazardous locations/activities; attitude towards rehabilitation; insurers’ flexibility to be able to deal with mid-term amendments which are hazardous and/or unusual,” he said.

Above all, however, it’s about finding a trusted partner, Carlick believes – one that has “its’ fingers on the pulse of this dynamic market” and “strong market relationships.”

 

Source: Insurance Business UK

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Winners at BIBA 2019!

BIBA_post_event_2

 

#BIBA2019 – VENI…VIDI…VICI! 

It is true to say we’ve had a fantastic couple of days at the largest networking event for the insurance industry – #BIBA2019. Even the sun has made an appearance in Manchester, a city that is known for its rain…

The BIBA conference is an essential part of Citynet’s annual event calendar where existing and new clients all come together in one place and our amazing team has the opportunity to build on existing relationships and forge new ones.

To everyone who has visited our stand at #BIBA2019 we would like to say THANK YOU and to those of you who did not have the time to come and talk to us, please get in touch to see how we can be of help to you.

Thanks again to all of you for making #BIBA an unforgettable event!

 

Who are the prize winners?

We are delighted to announce the winners of our three prizes.

 

— 1st Prize – An Apple Watch goes to Ms. Michelle Ramsey from Cowens.

— 2nd Prize – A Bottle of Dom Perignon Champagne goes to Mr. Sean McDonagh from Tony McDonagh & Co Ltd.

— 3rd Prize – An Amazon Echo Dot Third Gen goes to Mr. Mark Dacre from Ives and Taylor.

HUGE CONGRATULATIONS FROM ALL OF US AT CITYNET!

Richard_Scott_Citynet Citynet_BIBA
  Citynet_BIBA Citynet_BIBA
Citynet_BIBA Citynet_BIBA
Citynet_BIBA Citynet_BIBA

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CITYNET INSURANCE BROKERS at BIBA 2019!

Biba2019

BIBA 2019 – THE COUNTDOWN FOR THE BIGGEST ANNUAL EVENT FOR INSURANCE PROFESSIONALS FROM ACROSS THE UK HAS BEGUN!

 

On Wednesday 15th and Thursday 16th May, Manchester becomes the HUB of the UK’s insurance industry with BIBA 2019 taking place. This event grows every year, achieving record numbers each time. Ranked as the largest networking event for the insurance industry, this conference brings together staff and associates from across BIBA’s network of almost 2,000 regulated member firms. This year the organisers are expecting over 5,000 registered brokers and around 8,000 delegates to attend over the two day period.

 

Meet us at BIBA 2019 on Stand D63

Citynet Insurance Brokers are looking forward to continuing our tradition of exhibiting at #BIBA for the fourth year running.  We are a leading provider of specialist insurance throughout the UK and Ireland, therefore, we have an unparalleled level of knowledge. Moreover, we are well-positioned to help our clients with the most intricate risks they have.  Our service, integrity and specialist knowledge is what underpins our culture and stands testament to how we handle our clients’ business.

Citynet’s team led by Richard Scott, CEO and Andrew Walsh, MD will be there to meet you and answer any questions that you may have regarding our schemes and services.

Due to popularity, our traditional raffle will take place again this year with great prizes to be won such as an Apple Watch, Dom Perignon Champagne and an Amazon Echo smart speaker. Have your chance to win one of these prizes by visiting our stand and leaving your business card with us or by scanning your badge bar code.

We have listened to your feedback and as a result, at this year’s #BIBA2019 Conference we will also be serving beer and wine on our stand starting from lunchtime on Wednesday. Please feel free to drop by and join us on Stand D63 for a drink and a chat.

 

Meet the Citynet team attending BIBA this year

Richard Scott – CEO

Adrian Colosso – Non-Executive Director

Andrew Walsh – Managing Director 

Tim Hicks – Head of Schemes & Specialty Risks 

Graeme Flynn – Head of Motor UK & Ireland 

Lawrence Shortland – Head of Property & Casualty UK 

Colin Jackson – Account Executive 

Rebecca Johnston – Professional Indemnity Broker 

Richard Stiling – Account Director  

Shannon Blewitt – Commercial Account Executive 

Clare O’Neill – Head of Underwriting

Matt Carlick – Broking Director

Josh Autie – Broker 

Matt Wadhams –  Account Executive 

 

SEE YOU ALL THERE!

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CITYNET’S BREXIT CONTINGENCY PLAN

Brexit

 

 — UPDATE —

18th February 2019

 

Further to our Brexit updates, we are now delighted to let you know that Optis Limited have joined Citynet as part of the expanding PIB Group. This further cements the long-established and successful relationship between Optis and Citynet.

The acquisition of Optis Brokers is an exciting expansion for the group into the EU and will, therefore, provide protection for Citynet’s Irish policyholders in the event of a ‘No Deal Brexit’. 

As we move closer to the Brexit deadline – 29th March 2019 -, we will continue to keep you updated with any changes to our trading procedures and terms of business agreement. We are planning to keep as much as possible the same, including your contacts here at Citynet.

We hope this update will ease some of your worries, but should you have further queries, please do not hesitate to contact David Walland or your account executive.

 

____________________________________________

 

— UPDATE —

29th January 2019

 

Further to the Central Bank of Ireland’s recent press release and the comments from the Deputy Governor we can confirm Citynet is well advanced in its Brexit preparations (for a no deal) and will have a group Irish entity within the next couple of weeks as part of its contingency planning.

Once the Central Bank of Ireland is able to confirm the precise post-Brexit regulatory regime, we expect to be able to handle new and renewal business via the EU entity if required (with existing business unaffected based on the latest guidance).

In order to provide you with continuity of service, we will also work to ensure the same Citynet people you deal with now continue to support you going forward.

We will continue to update you as matters progress and I hope this gives you confidence that Citynet is well placed to continue to service its clients whatever the future holds.

 

____________________________________________

 

Updated: 29th November 2018

Insurance Undertaking’s – Brexit Plans

The Central Bank of Ireland recently issued a Dear CEO letter asking for Intermediaries and Insurance Undertaking’s Brexit Plans and how we are communicating those plans to policyholders.

At this stage, we have received correspondence from Lloyd’s with whom we will trade directly via Brussels and our TOBA is already in place, some insurance undertakings are moving their EU business to a new or existing subsidiary within the EU27 which should cause minimal disruption,  and finally some insurers we have not yet received their plans.

We hope to have a Brexit plan from each insurer by 31st December 2018 which we can communicate to you and minimise or have no disruption for EU policyholders.

 

____________________________________________

 

The Central Bank of Ireland has recently written to Irish intermediaries and UK brokers operating in the territory asking for their contingency plans in the event of a hard Brexit, and we thought it would be helpful for you to know how Citynet responded as our plans will undoubtedly have an impact on your response.

Subject to a No deal / No transition period.

Lloyd’s will continue trading from London, however from 1st January 2019 risks emanating from the EEA will be underwritten by Lloyd’s Brussels. The risk is still being placed by Citynet in London as normal, but your insurer security will be located within the EEA. This model should also be the same for placements outside of Lloyd’s market where the insurer is owned or has an EEA presence. We are already discussing with non-Lloyd’s insurers which entity they plan to use for EU business. This will be relevant for almost all UK insurers writing EU business.

In addition, Citynet is well advanced in creating an Irish base to replace our passporting rights should they cease on 31st March 2019. The Irish base will be either or both of 1) the purchase of an existing Irish broker for which talks are already well advanced and 2) application for a new Citynet office with its own approval by the Central Bank.

So although Brexit still has the ability to proceed in many ways, the changes to our current process should be minimal. Please keep in touch with your Citynet account executive if you have any queries and for regular updates.

 

 

 

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