The challenge

This new business was secured despite a challenging time in the market, with the more than USD1 trillion global events industry among the hardest hit by the COVID-19 crisis. The insured is a medical association and the MGU Miller worked with has placed little Contingency business previously. 

Our solution 

Key to Miller’s success in securing this business was our ability to provide a quote at short notice. With the current challenges the market is faced with, many Insurers are unwilling to write new business. However, due to our team’s ability to look at a client’s specific exposure and put together a policy that protects them appropriately, we were able to provide a solution for the client (even though pricing has increased significantly in this line of business due to Coronavirus-related claims). An internal referral from Miller’s Accident and Health team helped this deal come about, a great example of our determination to work as one team for our clients' sole benefit.

Outcome

As well as the Cancellation and Abandonment placement for several conferences and exhibitions, Terrorism extensions were also purchased.