The insurance market typically is not keen on financial services companies. We were however able to get cover for an FCA approved insurance broker, as follows…
- EV: £8m
- Sum Insured: £8m
- Retention/excess: £80,000
- Net premium: £80,000
- Insurance Premium Tax (12%): £9,600
- Underwriting fee: £10,000
- Total premium (1.254%): £99,600
The policy also covered defence costs.