market talk


DAS and Keychoice extend commercial LEI


“Insurance what? ...” Quickest indemnity ever?


eychoice Underwriting MD Jonathan Davey rallies behind “quality” legal expenses


Keychoice andDASunveilnew commercial protection K


cover for businesses,


particularly SMEs in the current uncertain economic climate. To meet this need Keychoice has developed a range of covers in partnership with DAS for the benefit of brokers and their customers, to run alongside the existing range of Keychoice commercial products.


Jonathan Davey


“The cover provides expert advice and assistance on a wide range of areas that can affect any UK business, such as employment disputes, tax


protection, statutory licence protection and contract disputes,” explains Mr Davey. “Clients will also have access to a variety of services such as 24 hour Eurolaw legal advice, counselling and interactive document builders.” DAS regional sales


manager Geoff Ashton adds that the financial crisis has driven the need for this scope of expert legal advice and assistance. “The costs of having a dispute, both in terms of monetary spend and also


Onbeingan‘Official’ T


his month’s editorial leader on page 1 highlights the old chestnut of the community standing of members of the insurance profession against their counterparts in the accountancy and legal professions. Why are we not taken as seriously as they are? The danger of going down this route is, of course, the accusation of conceit. Pomposity is surely the worst atrocity anyone in our industry can commit without invoking the wrath of the FSA, or the


disciplinary restraints of the CII Charter. (There are, I believe, some ‘insurance people’ out there who think such egotism should in fact be top of their list!).


Such self-importance was never better displayed than back in the days shortly before the IBRC came into being. The occasional broker conference delegate was wont to pontificate on the means by which the banks, motoring organisations, and other ‘hangers-on’ should be excluded by law from selling


Look and you shall find L


oss adjuster, Matt Coles of Davies Group was recently instructed by Home & Legacy to visit one of their policyholders who had lost an £80,000 ring. Having visited, and gathered all the facts, it was clear this was a genuine loss of a much treasured possession. The family were deeply upset by the whole episode.


What a surprise then, as Mr 8 insurancepeople MARCH 2011


Coles prepared to leave (no doubt contemplating a whopping estimate to be inserted on the claim file) and approached his car, he spotted the lost ring lying on the driveway. Ring and policyholder were immediately reunited. Summing up the incident, Matt Coles says, “In a job like mine you witness many strange things. This however has to be a


insurance. “We are Insurance Brokers. And therefore we should be the only ones allowed to sell insurance!” If direct writers had been invented then, they would no doubt have been excluded too.


But to head off any


accusation of being “unfair to brokers”, insurers were ten times worse. So, as a chartered insurer, who am I to talk? It’s funny isn’t it, how those embarrassing moments from the past sometimes flash through the mind, causing a nano-second’s


time, can have a significant impact on the well being of the business.”


in association with


Geoff Ashton


twinge of momentary discomfort. “How could I have been such an ass?”. That’s the cleaned up version of the gist of this confessional. For instance, what possessed me, when starting out on the professional insurance route in the early 1960s, to describe myself on passport and other documentation as “Insurance Official”? The answer was simple - because that’s what all our peers did at that time. The very people we all looked up to. How pompous can you get?


first for me. I was almost at my car when out of the corner of my eye I spied something glint. Realising what it was I picked it up and returned it to them. Having got over the initial shock, they were utterly overcome with joy, which certainly put a spring in my step for the rest of the day.”


Now that’s what I call claims service! Matt Coles


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