Ecclesiastical has been known for its knowledge and expertise in the heritage sector for decades, but in an interesting move the specialist insurer is expanding its risk appetite to include businesses in more modern properties. Ecclesiastical says they will initially target four- and five-star hotels, fine-dining restaurants, gastropubs, and visitor attractions, with plans to expand to more customer groups in the future.
There are unique risks in each of those sectors and the challenges in the pub and hospitality trade are arguably at their highest since the end of WWII. Food delivery services are taking away the habit of eating out socially across the UK. Rising food prices, energy costs and staff costs are also pushing up the price of hotel rooms, plus fine dining.
In the longer term, Globalist/WEF policy is to pen people up inside 15 minute cities, which obviously impacts all country based pubs and hotels and leisure experiences like theme parks. If you can’t drive there, how can you experience it? The social fabric of the UK is changing fast as well, which will sharpen the divide between the haves and have nots, all of which makes the Ecclesiaistical decision a bold one.
But Ecclesiastical is feeling positive;
“The new sector offers significant growth potential and has been launched in response to customer and broker demand for specialist cover. We’re ambitious for growth and we’ve identified the leisure sector as an exciting opportunity for us. We’re already specialists in heritage where we understand this type of operating risk, and so we can bring that wealth of underwriting and risk management knowledge and expertise to a wider range of businesses.
“Brokers really appreciate what we do – we’re specialists, give strong service and they tell us they want to work with us more, which is why we’re expanding into new sectors. Our leisure policy offers specialist cover that meets the specific needs of customers.
“This launch is part of our growth strategy as we look to double the size of our business. The more we grow, the more we can give to good causes through our owner Benefact Group. Being charity owned, we have a unique purpose that drives us forward and makes this a very special organisation to work for.”
For more information on Leisure Insurance, download the pdf; Leisure insurance – risk appetite guide (ecclesiastical.com)
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