Brokers tasked with reducing costs for their SME clients can now take advantage of Optima Liability from Groupama Insurances. Launched in recognition of the challenging market conditions small and medium businesses are facing, Optima Liability provides the public and employer’s liability insurance that small and medium businesses need in order to operate, without them having to buy property insurance cover.
Optima Liability is ideal for SMEs with minimal assets or where property and liability covers are split to provide more appropriate or more cost effective cover. The policy is targeted at manufacturers, distributors, retailers, offices, professionals, property owners and clubs and associations. Key features include public and products liability up to £5m limit of indemnity, employers’ liability £10m limit of indemnity and legal defence costs in defending claims admitted under the policy.
Malcolm Smith, Commercial Lines Director comments; “This is a clear demonstration of our agility – we’ve listened to broker feedback and responded quickly to bring to market a product that has real cost benefits and is easy to sell. In difficult times, smaller SME’s more than most will be feeling the pinch, so providing a product that ensures they have legal liability insurance without additional cover they may not need gives them more cost control. Optima Liability is perfect for businesses that don’t fit neatly into a per capita Tradesman policy, particularly smaller manufacturers and distributors. In addition, brokers can obtain a quote quickly and easily by contacting our team of experienced underwriters, ensuring the best deal is achieved and the cover meets clients’ needs.”
“We have worked hard to make our Optima products as simple and quick as possible for our brokers. This latest solution provides real business benefits for brokers operating in today’s highly competitive and challenging SME marketplace and demonstrates our continued commitment to providing innovative products to brokers and their customers.”
Optima Liability – The Key Features
- Public and Products Liability up to £5m limit of indemnity
- Employers’ Liability £10m limit of indemnity
- Legal Defence Costs in defending claims admitted under the policy
- Costs and expenses in defending health and safety prosecutions
- Indemnity to principal
- Liability arising from damage to leased, hired or rental premises
- Liability under the Defective Premises Act 1972
- Contingent motor liability for employees’ business use of their cars
