Throughout the annals of history, many significant happenings have taken place in August. The Perseids metor shower. International Clown Week. The birth of Lawrence of Arabia. The death of Elvis Presley. National Chop Suey Day. Despite such a momentous month hardly needing any further excitement, we threw caution to the wind and last week hosted the inaugural Kingsbridge Pottery Festival. To those who may previously have considered the insurance industry to be stuffy, boring, or strait-laced – consider yourselves forever rebuffed. Needless to say, much fun was had by all.
Earlier this month we covered our sponsorship of two great undertakings by two different groups of people: Pennon’s trip from John O’Groats to Land’s End, and Giles Derry of Dunedin’s mammoth journey across Italy and into France.
We recently received a nice letter from the lovely people at Pennon letting us know how exactly they got on.Read more
At Kingsbridge, we’ve recently made some changes for the better to give contractors even more comprehensive insurance cover.
Previously, our Professional Indemnity cover was offered in the aggregate. However, for policies starting from 1st July onwards we have now improved this by changing the basis of cover to ‘any one claim’. This is great news for contractors, but what does this mean to those not fluent in insurance-ese?
Here, we outline the difference between ‘in the aggregate’ and ‘any one claim’ when it comes to our contractor insurance in order to make a clear distinction between the two.
Kingsbridge are delighted to announce that we have agreed to partner with Zurich Insurance Group from 1st July 2016 onwards. By combining their world-renowned insurance expertise, strong financial rating and global brand visibility with our second-to-none contractor cover we will be able to look after our clients better than ever before, whilst also continuing to grow as a business.
Working with Zurich has allowed us to improve the limit on the Professional Indemnity portion of our insurance package. The limit will no longer be in the aggregate, but will instead operate on an ‘any one claim’ basis with no extra cost involved. For policies starting from 1st July onwards, any Professional Indemnity claims made will now be covered up to the limit selected by the policy holder each and every time a claim is made.
Going forward it’ll also allow Kingsbridge to cover a wider range of occupations, and gives us the ability to broaden the scope of the products we can offer significantly.
Zurich is one of the world’s largest insurance groups, and one of the few to operate on a truly global basis. With over 55,000 employees serving customers in more than 170 countries (including 11,000 in the UK), our clients will be safe in their hands. We look forward to a long and fruitful relationship as Kingsbridge continues to develop and progress.
Whilst many of the staff here enjoy a physical activity or two, it’s a sad fact that most of us spend our days seated (whether in a car or at a desk). As such, it was a pleasure to live vicariously through the Herculean efforts of two groups of cyclists closely affiliated with Kingsbridge recently. We were delighted to sponsor both the 3 Cycling Amigos of Pennon Group on the well-trodden but still fearsome path from Jon O’Groats to Land’s End, as well as our good friend Giles Derry of Dunedin and his crew Lost! Again on their almighty journey from Locorotondo in Italy to St. Tropez in France.
In the event of the UK public’s decision to leave the European Union, Kingsbridge would like to put on record our thoughts. In a recent survey conducted with our contractor client base the majority of those questioned preferred to remain in the EU. As we now know, this will not be the case. Nevertheless, we do not foresee a British exit having any major impact on our clients, all of whom are headquartered/based in the UK.
Many contractors that we spoke to were forthright in their belief that their unique skillsets and job suitability will remain in demand in the event of a Brexit, and we support that assertion. As one particular respondee noted: “The right skills are always required.”
With regard to our corporate and commercial clients, we see no major impact to the UK water industry in the immediate future, although there may be less regulation over time once a Brexit is complete. For the insolvency practitioners we work with we also expect very little in the way of change.
Whilst it is difficult to predict the consequences, positive or negative, of a Brexit at this early stage Kingsbridge will stand behind all of our clients and partners whatever the future holds. Over time we may see some large employers and users of freelance contractors (banks, the aerospace industry, the automotive industry and so on) impacted by loss of business which may in turn have an impact on their use of contractors, but it remains too early to tell. The freedom to set our own terms that a British exit allows our country could well lead to an economic landscape stronger than we have ever experienced before.
Kingsbridge will continue to watch as this historic, once-in-a-generation event unfolds, and we will support every single one of our clients as required.
Dunedin backs secondary buyout from Livingbridge
1st June 2016
Dunedin, the UK mid-market private equity house, today announced that it has backed the buyout of Kingsbridge Risk Solutions (“Kingsbridge”), an insurance broker for contractors and corporates. The transaction, sees Livingbridge, the mid-market private equity firm that backed Kingsbridge in January 2014, fully exit the business.
This is Dunedin’s second investment in the financial services sector this year, following the buyout of Alpha Financial Markets Consulting in February 2016.
Founded by the current CEO Steve Wynne in 2001, Kingsbridge is the UK’s market-leading provider of insurance services that are tailored to meet the needs of contractors, freelancers and independent professionals, as well as the compliance requirements of partners including recruiters and accountants. Working alongside its strong partner network, Kingsbridge covers the broadest range of industry sectors in its market, including aerospace, banking and finance, rail, automotive, nuclear, oil and gas and information technology.
As a growing company, we’re always on the lookout for new staff. As fresh faces appear in the office we like to welcome them with a series of questions and some stark black and white photography. You can see all of us over on the Meet the Team section of our website, but we’d like to introduce you to three of our newer recruits below. We’ll continue this series on an irregular basis as the ranks at Kingsbridge HQ continue to grow. Without further ado, meet Jane, John, and Rob.
If you didn’t already know, we just celebrated our 15th anniversary here at Kingsbridge. As part of our ongoing celebrations, we sat down with CEO Steve Wynne to ask him about the past, present, and future of Kingsbridge. Without further ado, here’s what we discussed:
Kingsbridge: Can you give us a brief history of Kingsbridge?
Steve Wynne: Kingsbridge was started in 2001 by myself and my wife Janet, resulting from a management buyout from Jardine Lloyd Thompson. We were on holiday in Devon and needed to decide on name. The name needed to be strong, and to relate to water as that was, and remains, a key sector for us. We were driving through the town of Kingsbridge and it ticked all the boxes. That’s how Kingsbridge began.
“No wise man ever wished to be younger,” Jonathan Swift once wrote. That particularly sage piece of wisdom is now over 300 years old, but it retains just as much relevance today as it ever did. The older you get, the better you become. Although it’s an adage Swift intended for his fellow man, it works just as well for a company. Kingsbridge turned 15 at the end of March and we’ve aged well. We know our customers, and the contracting community, better than ever. The company has grown hugely since 2001, both in terms of staff and the contractors, freelancers, and independent professionals we look after.