Lockton extends world-class service to Northern Ireland’s SMEs
Building on their position as Northern Ireland’s largest commercial insurance brokerage, Lockton has shown significant investment in growing the brand outside of Belfast through the development of a team of Commercial Insurance Consultants located across the regions to execute the brand’s newest innovative insurance solution, Lockton Commercial.
Developed to enable businesses of all sizes across Northern Ireland to take advantage of Lockton’s extensive industry expertise and buying power as well as their renowned one-to-one customer service offering, Lockton Commercial will be geared toward the growing number of commercial businesses across Northern Ireland and led by a team of locally-based commercial team members who will report back Lockton’s team of over 80 members of staff in Belfast while providing on-the-ground support in the communities where their clients are based.
“With over 130,000 small and medium enterprises located across Northern Ireland, it’s safe to say that these businesses are the backbone of our economy” said Brian Mullen, Commercial Insurance Consultant, Lockton. “With a number of these businesses being family-owned and operated and located outside of Belfast, Lockton has pinpointed the unique needs of these organisations to develop an insurance product to fit their requirements and budgets.”
While these small-medium enterprises dominate the business landscape in Northern Ireland, research from Lockton has revealed that a number of organisations are operating with insufficient insurance coverage and outdated policies and are not keeping up with emerging threats to their organisations.
“As threats to small businesses continue to evolve, many businesses are opting to bury their heads in the sand, ignoring new dangers like cybercrime or GDPR,” said Kieran Hurley, Commercial Insurance Consultant. “We have also found that organisations are operating with insufficient public liability limits or professional indemnity and directors and officers (D&O) coverage. Many organisations opt out of this coverage, seeing increasing insurance requirements as a way of insurers upselling to raise fees. In many cases, however, it will only take one incident to cripple an underinsured business.”
Bridging their expertise gained from working for over 50 years with some of Northern Ireland’s largest corporations, Lockton are adapting their approach to client relations to smaller organisations to provide second-to-none service and aftercare for local businesses.
“While many organisations may find a budget insurance product online, when issues arise they often find that they have no point of contact to help navigate the intricacies of claims handling or offer meaningful advice,” said Brian Mullen “Through our traditional approach to insurance we act as an extension of these businesses’ small teams to ensure their needs are met and we have full understanding of their requirements.”
“Due to the level on which many of our clients operate, Lockton has amassed a considerable buying power which is unparalleled by other Northern Ireland-based brokerages,” added Kieran Hurley. “Harnessing this power in our new Lockton Commercial offering, we are able to combine competitive rates with our traditional one-to-one support, in-house risk management service and sector-specific expertise to ensure customers of all sizes are receiving the same level of 24/7 bespoke ground-level service, which has helped us to be Northern Ireland’s leading commercial insurance brokerage as we continue to work for our clients’ best interests.”