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Andrew Walsh is named Chief Executive Officer of Citynet

Andrew-Walsh-Managing-Director-570x380_low res

Citynet Insurance Brokers, a leading wholesale Lloyd’s broker in the UK, has promoted Andrew Walsh to the role of Chief Executive Officer. His role which has been approved by the FCA is focused on specialty difficult risks in Lloyds and London Market insurers.

Andrew brings a significant amount of experience to his role, having held a number of senior positions in his career spanning over 25 years, all of which have been gained while working within Lloyds and London Market.

His career with Citynet started in 2011 to head up the Motor Fleet Department, progressing rapidly while gaining a track record in delivering against ambitious growth, sales, and service ambitions. In 2014 Andy was appointed to the Board of Directors and three years later he took on the role of Managing Director ahead of the acquisition of Citynet by PIB Group.

Andrew’s appointment is one of a series of executive moves at PIB Group whose growth is set to accelerate in 2022 and beyond, particularly across Europe. The moves aim to strengthen the Group’s corporate structure and governance as part of the next phase in its evolution in building a leading pan-European commercial insurance brokerage. Read more here.

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New brand and new home for COBRA London Markets who join forces to become known as Citynet Insurance Brokers.

Cobra-Lm-Rebrand-web

Citynet Insurance Brokers are delighted to confirm that COBRA London Markets will be rebranded into Citynet as of 8th November 2021.

Since November 2019, COBRA London Markets (COBRA LM) has joined forces with Citynet. Sharing the same office space, the two brands have become one strong team working together in anticipation of this rebranding moment. Trading for over 21 years, Citynet has a long legacy and a strong reputation in the London Market.

Joining forces with COBRA LM, which has an equally impressive and lengthy legacy, is a natural next step in their evolution to unify the brands under one name. The move will see the Citynet brand becoming a powerhouse in the London Market and providing all its broker partners with an invaluable customer service and an even broader range of products and services.

Andrew Walsh

Over the past two years, some of the COBRA LM and Citynet departments had already merged internally to create a stronger offering. The rebrand will unify as one company under the leadership of Andrew Walsh.

By joining our forces, Citynet is making sure that its broker partners will be the first to benefit, by having even wider access to Lloyd’s and London Markets and expert advice from its employees that have been trading into the market for decades.

“I am very proud of the heritage provided by COBRA London Markets and I’m equally excited about the future, by presenting our proposition to the market under a single brand,” said Andrew Walsh.

The rebranding will be effective from 8th November 2021 for New Business and Renewals issued after that date. For policies which are mid-term, rebranding will take place at renewal, rather than as part of any mid-term adjustment, to minimise disruption for policyholders.

There is no action required on behalf of brokers or policyholders.

While the same team of experts will remain, they will be moving office! The COBRA LM rebranding will coincide with Citynet’s office move.

 

88 Leadenhall StreetSame contacts but new office!

The business is moving a stone’s throw from the current office to the newly refurbished 88 Leadenhall Street, London EC3A 3BP. Please update your records with the new address from 8th November 2021. Phone numbers will remain the same, as will the website address (www.citynet.co.uk)  and social media accounts: LinkedIn, Facebook and Twitter.

 

About Citynet Insurance Brokers

Citynet Insurance Brokers is a wholesale Lloyd’s Broker, specialising in the placement of Liability, Property and Casualty, Professional Risks, Motor Fleet and various associated classes into the Lloyd’s of London and London Company market on behalf of UK intermediaries. Citynet also specialises in the placement of sub-delegated binding authorities for our retail brokers. As a major producer of premium into the London market, for more than 21 years,

Citynet is in a strong position to negotiate the very best deals for your clients and offer a genuine alternative to the composite market.

 

To contact Citynet Insurance Brokers call 020 7488 7950 or email broker@citynet.co.uk

Sincerely,

Citynet Insurance Brokers

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Courier Insurance Solutions

Courier_Mailshot_2021

 

HELPING YOU FIND THE RIGHT COURIER INSURANCE COVER FOR YOUR CLIENTS

Citynet is one of the leading Motor Fleet wholesalers in the UK market. With extensive access to the leading insurance and re-insurance markets, we provide products designed to offer cover to further protect your clients. To offer complete support to our broker clients, we regularly review our products and add new A rated markets for motor fleet risks. Citynet has exclusive wholesale access to some of these markets and wordings that provide wider coverage for your client’s protection.

Courier insurance protects individuals and businesses that run with high daily mileage and make multi-drop deliveries on a time-sensitive basis. If your clients don’t have Goods in Transit cover, it might be that this is something that they should consider as they will be responsible for any loss, damage, or theft that happens to the goods when delivering them between a business and a customer.

Our team experts are also able to provide you with the right advice on telematics devices that are proved to help your clients keep costs down. We have markets available to us that embrace the use of technology to drive down claims costs which ultimately results in reduced premium spends.

 

Type of Courier

levels of cover

Courier policy features

Why Citynet for couriers

Finding the right Courier Insurance for Vans or Courier Car Insurance policy can be stressful, costly and a drain on your clients’ time.

At Citynet we understand that every business is different and that every case needs to be assessed individually, that’s why we are best placed to helping your clients taking the pressure out of finding the right Courier Insurance package.

For more information about this product, please get in touch with our team members:

 

Graeme Flynn – Head of Motor Fleet – 07977 011 433 / graeme.flynn@citynet.co.uk
Gary Routledge – Motor Schemes Director – 07766 314 968 / gary.routledge@citynet.co.uk
Ashely Skeggs – Motor Broking Manager – 07964 623 530 / ashley.skeggs@citynet.co.uk

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Cyber Solutions

Cyber 2021

GET YOUR BUSINESS PROTECTED – STAY CYBER SAFE!

 

Cybercriminals are plotting to breach your network right now… but what can you do to prevent it?

It’s a known fact that small businesses are more likely to be targeted by cybercriminals than any other business or organization.

While we only hear about major breaches on the news, we don’t get to hear the stories of the businesses that struggle with cyber breaches and cyber-attacks.

Why are small businesses targeted more?

Hackers love to go after small businesses for one very big reason: small businesses are less likely to invest in top-notch or even worthwhile cybersecurity protection or cyber insurance.

The reason comes down to many factors but the two in particular are: lack of resources and lack of knowledge. Of course, this is a wider subject of discussion, as hackers also look at a business’s customer base and the type of data the business shares online. Hackers go after targets they can profit from, whether they hold a business’s data hostage and demand a ransom or they launch a carefully plotted phishing attack.

Some businesses make it past the attack unscathed, but many don’t. Their data might be compromised in one way or another.

So, what can you do about this and how can you protect your business?

First and foremost, you have to realize YOUR business is a target, regardless if you’ve never been hacked before (it might just mean the hackers haven’t gotten to you just yet). Aside from a good business risk assessment, you have to look at getting cyber insurance protection in case an unfortunate situation arises.

To help you with this, Citynet Insurance Brokers provide fully tailored and comprehensive cyber insurance solutions. Our team of experienced professionals is working with a wide number of markets and can put together the right solution for your or your client’s business needs.

Cyber Cover

 

Cyber Trades

cyberattacks

Cyber Contact

 

Tiku Patel – Head of Professional Risks – 07854 130 120 / tiku.patel@cobralm.eu.com
Rebecca Johnston – Senior Account Executive – 07811 757 124 / rebecca.johnston@citynet.co.uk

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Citynet Insurance Brokers creates International Division and appoints as head a promising and ambitious figure

Citynet Insurance Brokers – an established Lloyd’s and London Market wholesale broker specialising in the placement of Liability, Property and Casualty, Motor, Professional Indemnity, and various associated classes for over 20 years, have appointed Harry Mills to head up their newly formed International division.

With just under 10 years’ experience within the insurance industry, Harry brings with him a wealth of knowledge and expertise as well as extensive connections across both the London market and with retail brokers globally.harry_mills_Int
The main focus of Harry’s new role will be to drive the growth of the International division by offering insurance and reinsurance solutions for challenging or unique risks to brokers, insurers and MGA’s. This will be across both Property and Casualty for a wide range of industries. Harry will also provide London market access for the PIB Group’s growing network of brokers throughout Europe.

Harry Mills joins Citynet from Steadfast Placements London where he spent over three years as a team leader and senior broker being responsible for establishing and growing the London wholesale team. Prior to this, Harry spent four years at Citynet as a broker and a year at RK Harrison. In 2016 Harry was one of the three BIBA finalists for the Young Broker of the year award.

“We are always looking to recruit the best talent available, and we have certainly achieved that in Harry. We have ambitions to be a dominant force in other territories and for that, you have to recruit the best. On a personal level, I am delighted to welcome Harry back to the Group and am genuinely excited to be able to see him achieve what I know he is capable of. This will be the first of many additions to the newly created division,” said Richard Scott, CEO at Citynet.

Harry Mills added: “I am thrilled to have re-joined Citynet and I am looking forward to the exciting opportunity to establish their international division and to working with brokers in order to provide innovative solutions for their clients, whilst offering an exceptional service”

 

– END –

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Commercial Insurance Solutions

Commercial-Insurance-Solutions

 

The three-word mantra for businesses this year is – Respond, Recover and Thrive.
As we step into Q2 of this year many businesses are in the stage of ‘recovery’ having just been able to open their doors just a few days ago.
Insurance is an important consideration for any business offering protection from unexpected losses caused by a whole range of activities.

Our Citynet Commercial Insurance team brings a wealth of knowledge and experience to provide your clients with quality insurance solutions and specialist advice and guidance. Our products offer a breadth of cover from simple to complex. There are different types of cover for different types of risk, from legal liability to property damage, to employee-related issues.

Commercial-covers
Trades_web
other-trades_web

For more information about this product, please use our contact details below or get in touch with our team members:

020 7488 7950

broker@citynet.co.uk

Chris Cullen – Head of Casualty – 07908 583 178 / chis.cullen@cobralm.com
Matt Wadhams – Account Executive – 07773 470 813 / matt.wadhams@citynet.co.uk
Hugh Cleland – Account Executive – 07557 343 578 / hugh.cleland@citynet.co.uk 

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Security Guarding, Events, and Door Supervision industry

Pub security

A COMBINED LIABILITY PRODUCT

With the hospitality and events industry set to open once again, Citynet Insurance Brokers are offering a Combined Liability product for the Security Guarding, Events, and Door Supervision industry.

Cover

standard-cover_web

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scheme_web

For more information about this product, please contact your account executive or account handler or use the contact details below:

 

020 7488 7950

schemes@citynet.co.uk

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Property and Liability Commercial Combined package

Commercial-combined-web2

COMMERCIAL COMBINED INSURANCE

in partnership with Convex Insurance.

Citynet Underwriting Services are proud to be launching a new property & liability Commercial Combined package in partnership with Convex Insurance – an international specialty insurer and reinsurer providing A rated capacity for UK commercial combined and standalone liability risks.

Here at Citynet, we have a dedicated underwriting team that allows us to quote, bind and issue documents in-house fast and efficient.

Commercial-Combined-Covers1

Target Trades1

Liability Only1

Commercial-Combined-Get-in-touch

 

 

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Construction Market Update

Construction Article

 

Since 2018, the construction insurance market has undergone an acute change, transitioning firmly out of a very soft market. Entering 2020, contractors were prudent about their business prospects. But no one was prepared for the across-the-board disruption caused by the pandemic or the aftereffect that is likely to carry on well into a 2021 hardening market.

In the first quarter of 2020, we witnessed continued rate increases, requests for more information and risk management engagement, as well as increased deductibles, and some of the broad coverage of the past becoming much harder to obtain. This happened before COVID-19 really kicked in, at which point we all had to become accustomed to negotiating over the phone, or via various video conferencing platforms. It is fair to say that we have now entered a time in the insurance market that none of us has ever encountered before, nor want to see again, although we might need to get used to this for a while longer.

Like most other business sectors, the construction industry is looking with uncertainty at 2021 that will certainly continue to be affected by the ongoing pandemic as the virus mutates. Balancing opportunities with risks has always been the central challenge for contractors, Now, more than ever, the role of a broker is very important and construction companies need to partner with experienced brokers in order to ensure their story is pitched well to the insurance marketplace, pairing them with the right carriers, right-sizing coverage and tightly managing costs.

The economic shutdown delayed many projects that had been in the bidding or final stages. Significant material/supply chain disruptions jeopardized schedules and operations. Contractors also were hit when subcontractors couldn’t report to jobs, either because their people were exposed to the virus and subject to quarantines, or because they were unable to meet health guidelines.

Specific Areas of Concern

Residential Sector

As the market hardens, insurers are particularly cautious with any portfolio that has a poor claims experience or includes risks outside of their core underwriting appetite, resulting in increasing premium rates and restricting cover. Despite this, there is still a wide appetite to underwrite well risk-managed residential portfolios.

Water Damage

Water damage is a significant market concern. Insurers are keen to work with brokers to identify sites that perform poorly from a claims perspective. Many markets are encouraging clients to follow the advice in Managing Escape of Water Risk on Construction Sites, the guide issued by the Construction Insurance Risk Engineer Group.

Timber Frames and Cladding

It is fair to say that timber frame buildings continue to be a challenging area for the insurance market. The rates for timber frame buildings can be greater than those of a steel frame build, and policies can come with higher excesses. Following the Grenfell fire tragedy in June 2017, underwriters have been cautious about cladding. A greater understanding is sought of the full construction methods, with a focus on the composition and installation of cladding, particularly with projects that are more than 18 metres high.

Cyber risk – a growing concern

Following 2021 reinsurance treaty renewals all reinsurers have cyber cover exclusions, and as such there are a lot of processes that leave an open door to cyber risk. Many contractors buy policies where cyber is blended with their professional indemnity insurance. The protection offered by such policies might be limited versus a stand-alone cyber policy. Therefore, decoupling cyber for broader protections will also result in better terms and conditions. As cyberattacks are intensifying, especially during the Covid-19 crisis, the construction industry had not been spared. There’s been a notable uptick in cyber claims, and construction is particularly vulnerable to social engineering. This involves a cyber-criminal impersonating senior management or important vendors, using business email compromise tactics and effecting the release of large sums of money or information that can be monetized. To avoid the risk of a cyber-breach, firms should periodically undergo audits of their cybersecurity environments. An experienced broker can provide a great insight and guidance on cyber insurance policies making sure these are adequate for the business.

Contractors’ financial health under pressure

The industry is working with weakened balance sheets and compressed profit margins due to the pandemic’s impact. Many contractors had to cover unbudgeted labour costs as they tried to catch up on jobs delayed due to numerous virus-related reasons.

Contractors and subcontractors should count on their brokers to keep them on top of developments in the SDI and surety markets. Risk selection is another important factor in a hardening market as insurers tend to become choosier in whom they agree to insure. For subcontractors, it points out the need to self-market by sharing a good risk management track record with safety successes. For general contractors, it’s important (for any type of insurance) to demonstrate how quality, as much as safety, is managed on the job site. Quality has always been an important differentiator for contractors, and is now emerging as an important insurance underwriting (risk selection) factor as well.

Respecting the continuing risk of pandemic

As we’ve rolled into 2021, new virus mutations will constitute a continuing operational risk for the industry. The pandemic will continue to haunt supply chains as well, with knock-on effects impacting both budgets and schedules this year. Contractors are being reminded of the difference between an “efficient” supply chain and a “resilient” one.

The insurance industry will be hit hard by COVID-19 exposures, with the full extent of them not yet known by the industry.

Navigating the Market

In order to limit cost increases and improve risk profiles for their construction clients, retail brokers will need to look for the right wholesale broker that has ties with the Lloyd’s and London market and an excellent knowledge for the construction industry. Citynet Insurance Brokers has been established for over 20 years and their experience within the construction industry is an unparalleled one.

 

What can construction companies expect in 2021 

Whilst businesses and industries were impacted by COVID-19, some more than others, all had to adapt. Fortunately, construction was considered an essential business, so for the most part, the industry did well i­­­n 2020.

As the industry works to rebuild this year, insurance renewals are likely to be tough as underwriters consider stressed financials and other issues and trends that pose risks to the sector’s recovery, short and long-term.

Trying to forecast where rates will go this year is at best an educated guess. Every account is underwritten individually and ultimately pricing will be affected by risk control strategies and loss histories.

The challenges here will be heightened by a hardening insurance market, where rates trend higher as availability tightens. In this environment, contractors should expect their insurance brokers to be their partners and advisors in anticipating the risks ahead and shaping the strategies to manage them effectively.

 

Please download this article in a pdf format here.

 

Construction

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Construction Insurance

 

Construction-Insurance

SPECIALIST FACILITIES FOR THE HIGH-RISK CONSTRUCTION SECTOR

 

Construction Insurance

For more information about this product, please use our contact details below or get in touch with our team members.
020 7488 7950
Matthew Carlick – Broking Director – 07890 545 417 / matthew.carlick@citynet.co.uk
Chris Cullen – Head of Casualty – 07908 583 178 / chis.cullen@cobralm.com
Hugh Cleland – Account Executive – 07557 343 578 / hugh.cleland@citynet.co.uk 

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