Lockton Belfast to guard the guardians with new law-focused insurance offering
Internationally renowned insurance broker Lockton is set to cement their position as Northern Ireland’s leading commercial and business broker with their recent launch of an exclusive product to meet the needs of solicitors. The firm, which employs 70 staff in their Belfast team, is addressing a gap in the market, which has seen solicitors and law firms across Northern Ireland miss out on much-needed, cost-effective general insurance solutions.
The product, Lockton Office Guardian, has been available in England Wales and has already been chosen by a number of the UK’s Top 50 Law firms. Developed in conjunction with M S Amlin the bespoke office insurance package includes practical cover extensions to effectively deal with the business risks solicitors, law firms, and professional services companies face on a daily basis.
Part of the world’s largest privately owned, independent insurance brokerage firm, Lockton Belfast sees Northern Ireland as a high-potential market and will seek to replicate the success of the product’s uptake in the UK following a successful roll-out locally.
“We’ve worked with existing clients in this sector to understand the general business risks a law firm faces and we have developed a policy specifically designed with the requirements of solicitor practices in mind. We understand how important your premises and assets are to the smooth running of a firm and we have produced a policy wording that offers exceptional cover,” said Roisin McCarthy, Lockton Belfast Commercial Manager.
“Peace of mind is further guaranteed by the fact we have eliminated cumbersome warranties and conditions ensuring the policy terms are clear and concise, as well as delivering cost-effective and exceptionally strong cover.”
In contrast to many office insurance products the Office Guardian wording has been developed specifically for the legal sector. For instance, under the Business Interruption section any loss of revenue can be claimed on the basis of Billable Hours and this cover also benefits from an unlimited indemnity period.
“Theft of equipment or money and damage to buildings through fire, flood or other disasters could severely damage a practice’s ability to function and serve its clients. While we can’t prevent these events from happening, with Lockton Office Guardian law firms can rest assured that they have the insurance in place to speed up the recovery process, get a firm back in operation as quickly as possible and provide compensation for lost revenue in a meaningful and transparent way” added Roisin.
The Office Guardian product has already had an early impact in Northern Ireland. Pat Eastwood, Partner, Murphy and O’Rawe commented,
“We decided to go with the Office Guardian product from Lockton and M S Amlin as it was bespoke to the particular office insurance requirements of a legal firm and also competitively priced. We value the effort the Lockton team has taken in understanding our business.”
Since 2006, Lockton Belfast has been part of the global Lockton brand, the world’s largest, privately owned insurance brokerage firm founded by Jack Lockton 50 years ago.
The Belfast office has been trading for over 25 years and has a reputation for first class service and exceptional associates. Lockton provides client servicing, broking, claims management and risk management from its Belfast office, which employs more than 70 staff having doubled its workforce over the last five years.
For more information on Lockton’s Office Guardian product and to learn how it could impact your business cover, visit www.lockton.com or contact Roisin McCarthy on 02890 348427.