A hard-to-place insurance risk is an insurance exposure that cannot be readily placed with standard insurers.

This does not necessarily mean the business is uninsurable.

It may mean the risk requires:

• A specialist insurer.
• A different policy structure.
• Additional underwriting information.
• Restricted cover.
• Higher excesses.
• Different risk management.
• Access to specialist or overseas markets.

What can make a risk difficult to insure? #

Examples can include:

• Unusual business activities.
• High-risk work.
• Significant previous claims.
• Hazardous locations.
• Complex contractual exposures.
• Large or unusual property risks.
• Difficult occupations.
• Emerging technologies.
• Overseas operations.
• Activities outside standard insurer appetite.

Does a previous insurer declining the risk mean nobody will insure it? #

No.

Insurers have different underwriting appetites.

A risk that falls outside one insurer’s appetite may still be considered by another insurer or specialist market.

Why does specialist broking matter? #

Hard-to-place risks often require a detailed explanation of:

• What the business actually does.
• How the exposure is controlled.
• Previous claims.
• Qualifications and experience.
• Risk management procedures.
• Why the risk differs from what an insurer might initially assume.

Webber Insurance can approach specialist markets where a standard insurance placement is not suitable.