Interesting Facts About Insurance…

Fri 8th June 2018

 

 

1. …since 1682 the London market has been providing fire insurance. A metal plate was attached to their building ensuring that if there was ever a fire their insurance company would fight to extinguish it. If the building wasn’t insured the fire wasn’t put out unless it threatened to spread to an insured building.

2. …the world’s largest cigar weighing 110 kilograms and with a length of almost 4 meters was insured during exposure on one of the exhibitions in London for 18,000 pounds sterling, and the premium was only 50 pence. Perhaps because, as claimed by the owner of a cigar, it can only be smoked in no less than 339 days.

3. …about 320,000 people work in insurance in the UK, handling about £1.8trillion of investment.

4. …the first insurance contract in the history, was signed back in 1347.

5. …the fastest, according to Guinness Book of Records, the famous Irish dancer’s legs, of Michael Flatley, were insured for 25 million dollars.

6.  …Today insurance comes in all sorts of shapes and sizes, but perhaps one of the most peculiar policies is ‘hole-in-one’ insurance. Golfers can add ‘big tournament tension’ to their games by offering serious prizes (up to £1million) for anyone who gets a hole-in-one.

7. …British commitment to a range of gambling activities is so strong that “Lloyd” has developed a special insurance policy for insurance of the employer in the event of dismissal of two or more employees, winning the national lottery. According to this policy, the insurer covers the expenses for services incurred by the employer to pay for the recruitment agency.

8. …one of the consequences of the Great Fire of London, which destroyed much of the city 350 years ago, was that it led to the birth of fire insurance and house insurance in general.

 

The above information is derived from open public sources.  

Citynet Insurance Broker renews its sponsorship to Erne Boxing Club and offers a bursary in addition.

Thu 7th June 2018

“The Erne Boxing Club sincerely thank Citynet Lloyds Brokers who once again have generously sponsored the boxing club for the forthcoming season and in addition they have given Kaci a bursary.

Thanks-a-million it’s so greatly appreciated!!!”

Founded in 2008, the Erne Boxing Club is a cross-community voluntary organisation that has benefited greatly from the support of Citynet Insurance Brokers Limited over the years. This year in addition to our sponsorship, we have offered a bursary to Kaci, a talented young boxer.

Based in Derrylin (a small village in a rural part of Northern Ireland), the club has a unique catchment as it pulls in members from all towns across Co Fermanagh and cross border from Co Cavan in the Republic of Ireland.

CITYNET INSURANCE BROKERS AT BIBA 2018

Thu 24th May 2018

 

THE CURTAINS HAVE NOW CLOSED ON #BIBA, THE BIGGEST ANNUAL EVENT FOR INSURANCE PROFESSIONALS FROM ACROSS THE UK!

On Wednesday 16^th and Thursday 17^th May, Manchester was the HUB of the UK’s insurance sector with BIBA 2018 taking place. This is the largest networking event for the insurance industry, bringing together staff and associates from across BIBA’s network of almost 2,000 regulated member firms. It was expected that over 5,000 registered brokers and 7,300 delegates will attend over the two day period.

Citynet has long been a leading provider of specialist insurance throughout the UK and Ireland. With an unparalleled level of knowledge, understanding of our clients’ needs and in-depth knowledge of local law and regulations ensures that we can be relied upon to offer expert guidance and advice.

Our experienced and well-informed team, led by MD Andrew Walsh, would like to say a huge thank you to everyone, existing and new customers who visited our stand for taking the time of day to come and see us.

Services:

• Commercial Insurance
• Motor Fleet Insurance
• Professional Insurance
• Specialty Insurance
• Marine Energy & Offshore Insurance
• Binder Insurance
• Terrorism
• Cyber
• Entertainment & Leisure

Schemes

• Manufacturing Combined
• Plastics Combined
• Engineers Combined
• Property Owners

“ We are excited to be exhibiting at BIBA for the third year running and pleased to be back in Manchester. We feel that both the location and event are the best places to promote our business, make new contacts and reinforce existing relationships,” said Andrew Walsh, MD of Citynet.

 

WHO IS THE WINNER OF AN APPLE IPAD PRO?

If you have visited Citynet stand over the two exhibition days, you would have known that Citynet ran a prize raffle where an Apple iPad PRO was up for grabs. 

Following the BIBA prize draw, we can now reveal that the lucky winner of an iPad PRO is Ms Laura High. Huge Congratulations from all of us at Citynet and we hope you use it well!

 

Meet the Citynet team that attended BIBA this year.

Andrew Walsh – Managing Director

07557 366 510; [email protected]

Tim Hicks – Head of Schemes and Specialty Risks

07983 392 163; [email protected]

Graeme Flynn – Head of Motor UK & Ireland

07977 011 433; [email protected]

Gary Williamson – UK Business Development Manager

07971 464 029; [email protected]

Colin Jackson – Account Executive  

07789 994 470; [email protected]

Alastair Templeton – Motor Divisional Director

07973 938 376; [email protected]

Shannon Blewitt –  Account Executive

07807 055 083; [email protected]

Josh Autie –  Broker

07870 895 876; [email protected]

Matt Wadhams –  Account Executive

07773 470 813; [email protected]

Claudya – Marianne Cocalea –  Marketing Executive

[email protected]

 

BRING ON #BIBA2019!

 

Citynet recognised in ‘1000 Companies to Inspire Britain’ 2018 report

Wed 23rd May 2018

Citynet has featured in the prestigious new London Stock Exchange Group’s 1000 Companies to Inspire Britain.

The fifth annual edition of this report is a celebration of the UK’s fastest-growing and most dynamic Small and Medium Sized Enterprises (SME’s) across the UK and for Citynet to be selected is a real honour and testament to our hard work over the past five years.

As well as identifying 1,000 companies, the annual reports examine in detail the opportunities and challenges facing SMEs and looks at the sectors and trends that will shape the future of the British and European economies.

According to the report, Financial Services is one of the fastest growing sectors with an average annual revenue growth rate of more than 461%, followed by Engineering and Construction at 109%.

To be shortlisted, Citynet needed to show consistent revenue growth over a minimum of three years, significantly outperforming our industry peers.

Citynet is a wholesale Lloyd’s broker and a leading supplier of exclusive schemes and market-leading services to Insurance Intermediaries throughout the UK and Ireland. Our objective is to build a sustainable business that promotes long-term growth over short-term profit.

Having been established for nearly 20 years, we have a significant influence in the London market and pride ourselves on having access to all major carriers. Our highly trained and motivated staff are always ready to deliver the right solutions for the risks we are presented with as well as offering the service we expect ourselves.

 

Nikhil Rathi, CEO, London Stock Exchange Plc, commented:

“I am delighted to congratulate Richard Scott on the success of his company, which has been recognised in the fifth edition of London Stock Exchange Group’s 1000 Companies to Inspire Britain report, showcasing the UK’s most inspiring and fastest growing companies. We hope the report shines a light on some of the UK’s most vibrant companies, including his. On behalf of London Stock Exchange Group, we thank him for inspiring us.”

Richard Scott, CEO, Citynet Insurance Brokers, commented:

“It is always satisfying for your achievements to be recognised. Our success is as a result of all the hard work our conscientious staff have and continue to put in. All of us at Citynet care deeply about servicing our brokers and it is this passion and commitment which has fuelled our growth in recent years”

 

A full, searchable database of all of the companies along with a downloadable pdf of the publication can be found online at www.1000companies.com as well as more detail on the methodology.

Citynet offers sponsorship Na Piarsaigh Hurling & Football Club Under 13’s team.

Wed 23rd May 2018

Citynet Insurance Brokers is proud to sponsor the Na Piarsaigh Hurling & Football Club Under 13 ’s team. This is yet another great example that here at Citynet we are very much involved in our community activities’ and we take immense pleasure in supporting it as much as we can.

Na Piarsaigh Hurling & Football club was founded by a group of schoolboys from the North Monastery School in 1943.

• The club won its first trophy by winning the Junior City Hurling title in 1947.
• Success at County level followed with the Junior title in 1953.
• The Senior Hurling title was won for the first time in 1990 with subsequent wins in 1995 and 2004
• The Kilmacud Crokes All Ireland Hurling sevens winners in 1992.
• In 2006 the clubs Under 14 hurlers won the All Ireland Christy Ring Trophy for a record sixth time.
• In 2006 the clubs Under 13 hurlers won the Kilmacud Crokes All Ireland title for the second year in a row
• Famous Cork hurlers include: Tony O Sullivan holder of 5 All Star Awards, Sean Og O hAilpin, John Gardiner, Setanta O hAilpin, Roger Tuohy, Christopher Joyce to name but a few

ABI – TOP TEN KEY FACTS ON UK INSURANCE AND LONG-TERM SAVINGS

Tue 1st May 2018

 

Read the full report here: ABI Key Facts

Stage is set for Citynet’s newest product – Entertainment & Leisure

Tue 17th April 2018

One of the most famous sayings in entertainment is “The show must go on”, but as a business owner in the leisure industry; what insurance measures do you have in place to ensure that the curtain doesn’t come down in the event of an unexpected cancellation or occurrence.

Citynet InsuranceBrokers, a leading wholesale Lloyd’s Broker and provider of specialist services,  have announced the launch of a new series of products providing protection to the Entertainment and Leisure industry.

With an unparalleled level of knowledge, the Lloyd’s broker (whose cover also includes property, liability, professional indemnity and motor fleet) have an excellent reputation in understanding UK/Irish laws and regulations, along with their combined experience in launching and running successful affinity partnerships alongside some of the best known brands in the country.

In leisure and entertainment, you’ve got to be prepared for the unexpected. The creative industry as a whole has to work to exceptionally tight deadlines and even tighter budgets, whilst still thinking ‘outside the box’ and producing top class output. Equally, the market strives to exceed customers’ expectations, putting everything into providing the ultimate experience.

“Our entry into the creative industry will provide Citynet with further challenges which is something we thrive on. We pride ourselves on continually improving and increasing our offering to our retail brokers. We strive to be proactive and will always look to stay ahead of our competitors by never resting on our laurels” said CEO, Richard Scott.  “The Entertainment and Leisure product we are launching to the UK and Irish market is a clear statement that we want to be the Lloyds Broker of choice for all quality retail brokers in the territories that we trade”

The Entertainment and Leisure sector has become one of the UK’s most lucrative earners – worth an estimated £200 billion to the British economy.

By offering the core cover for amusement arcades, children soft play centres, health and fitness clubs, contingency/cancellation and abandonment including non-appearance (find the full list of trades here), Citynet are well positioned to leverage their experience in complex deals to help cover events and exhibitions that will take place indoor or outdoor, large or small.

“Citynet offers specialised insurance products for the vast world of Entertainment and Leisure together with a refreshingly personal and consistently thorough approach to managing risk. Our core offering is designed to cater for a wide range of Entertainment and Leisure trades on both annual and short period basis. We will provide the highest level of customer service and due diligence to each and every risk we are entrusted with by our clients along with obtaining the best coverage and pricing available.” commented Tim Hicks, Head of Schemes and Specialty Risks at Citynet.

Citynet has chalked up nearly two decades of broking experience, built on understanding how their clients operate and the high-risk issues that are sometimes misunderstood by the insurance market.

“In the last 5 years, we have grown our income 400%. This has been achieved by recruiting first-class producers who know their specialist subjects inside out. Once again we are looking for a record-breaking year in 2018 and with the efforts of all our team we expect to achieve this.” commented Richard Scott.

D.I.S.C.O Balls rugby team has played again this year in the Men’s Open Competition at the Kinsale Rugby 7s!

Sun 15th April 2018

Citynet Insurance Brokers were delighted to sponsor The D.I.S.C.O. Balls Rugby team that entered the Men’s Open competition for the second year running. They played an amazing and very competitive rugby yet again and we are very proud of their achievements.

Kinsale 7s, Ireland’s largest rugby festival based in Kinsale, Co. Cork, takes place every year over the first May Bank Holiday weekend.

D.I.S.C.O. Balls Rugby (made up of players from Haywards Heath Rugby Club in Sussex) are already planning to go back to Kinsale next year and look forward to having the same sponsor support from Citynet and others.

Citynet Insurance Brokers sponsors Hatfield Peverel U17’s football team.

Thu 1st March 2018

 

A new year has started and here at Citynet Insurance Brokers, we are continuing to support our community with every chance we get.

 

Our latest sponsorship was offered to Hatfield Peverel U17’s, a football team based in Essex. They currently play in the Blackwater and Dengie Youth League Division 1 and are in the League Cup final in March, competing for the top place in the league.

 

Steve Harding, HPFC U17’s Manager, commented “We truly appreciate your support and your very generous donation enabled us to purchase full tracksuits featuring both the CITYNET and Hatfield Peverel logo’s. I have received many compliments from both the players, parents and spectators regarding how professional the team looks, and considering the recent weather they have been used at both training sessions and match days.”

 

How is the business performing?

Fri 19th January 2018

 

The last twelve months have been the most rewarding in our 18-year history. Our continued growth would not be possible without the loyal support of our brokers, underwriters and staff.

Throughout the past year, we have continued to focus on our core activities which are Casualty, Property, Motor Fleet and Professional Indemnity emanating from the United Kingdom, Republic of Ireland and New Zealand. Our business model remains simple, servicing our loyal broker base and continuing to engage daily with our partner insurers.

We are forecasting a healthy double-digit increase again in both turnover and profit for the forthcoming financial year. This is despite a challenging marketplace in which a surplus of capacity means we are still some way from ideal market conditions. The recent Ogden ruling will undoubtedly have an impact on the two largest sectors of our business, Motor and Casualty although I suspect the full impact will be more noticeable in our 2018/19 financial year.

As the company has grown, we have made the necessary corporate and regulatory advances to support that growth, these include the evolution of the risk and compliance, audit and remuneration committees, the addition of a second non-executive director and encouraging a qualified workforce. It is true to say that our culture has changed significantly during recent years.

We have always strived to be the best we can and whilst we are proud of our recent achievements we feel that we have merely laid the foundations for a period of accelerated growth. We are very well placed to use our size and good reputation as a springboard for further success. We will endeavour to improve our service and add to our product offerings as well continue to recruit like-minded individuals during the next twelve months.

Following our acquisition by the PIB group we are in the fortunate position of having a supportive Parent Company behind us, as well as benefitting from their significant influence in the marketplace. All these factors contribute to a feeling of excitement that 2018 will be even better than last year.

Richard Scott, CEO and Andy Walsh, MD