Industry News

An Unprecedented Year

Steve Cowman

9 March 2021

I realise that everyone is sick to death of COVID. It’s all we’ve talked about for over a year and it continues to impact on every area of our businesses and lives.

Many of the specialist markets we service have been badly affected, with the hospitality industry alone losing £30bn of sales in 2020, with a fifth of all jobs in the sector lost.

This has put unprecedented strain on businesses, brokers and insurers, resulted in reduced capacities and increased premium renewal rates at a time when businesses simply can’t afford to pay.

Remote working has also caused issues – at a time when MGAs need to be at our most responsive many have struggled – unable to offer the flexibility that social distancing and lockdown rules require and still deliver high quality products, backed by A rated capacity, all with the usual levels of service quality and speed.
But at NBS we have built our business on speed of service and quality of relationships – with both brokers and insurance partners. These relationships have always been based on our ability to be flexible, providing bespoke products at a competitive price and all turned around quickly.

So, in early 2020 we invested in our people, processes and equipment to minimise disruption and ensure we could continue to provide our brokers with the service they have always expected.

We have grown our team and increased our capacity, working with our growing panel of A Rated Insurers to provide high quality products that answer the needs of our brokers in these difficult times and beyond.

As we follow the government road map back to normality we continue to invest in our people and processes, continuing to improve response times and deliver industry-leading products and increased A rated capacity in an ever-wider number of specialist markets.

Our consistency is key – we continue doing what we do extremely well in a very volatile and unstable market.