Exclusive insurance offered to NFB firms

Members of the National Federation of Builders (NFB) are now guaranteed quotations for employer's liability insurance, and renewal terms of at least 21 days prior to renewal, with the launch of the NFB's insurance scheme.

Joining forces with Zurich Insurance, the NFB has developed a solution to provide more affordable cover for its 3,000 member companies. The scheme includes a unique rebate clause that provides cash returns of up to 20% of the total policy cost for members of the NFB's own voluntary accreditation scheme.

NFB chief executive Barry Stephens said: "We've been looking for a commercial partner with vision to develop this initiative for some time. Zurich is not only a market-leading insurer in the construction industry, but also shares our belief that companies with the highest standards of health and safety should be rewarded with more affordable cover."

Carl Gebhard, manager of Zurich's construction arm, feels that NFB members represent a better risk than their peers.

"NFB members have already passed what is probably one of the most stringent entrance criteria of any trade association, and we were particularly impressed by the accreditation scheme. Although Zurich can't guarantee the cheapest premiums, they will be competitive.

"NFB members represent a better risk and this will be reflected in the premiums."

He continued: "The package we've developed with the NFB addresses the core issues facing companies in today's market. We intend to reward those companies that demonstrate superior health and safety standards by linking performance to premiums."

With a management group steering committee consisting of representatives from NFB, Zurich, member companies, insurance brokers and independent health and safety bodies, the scheme will continually evolve.

"It's not set in stone - the scheme will continually be updated and improved," said Stephens.

Gebhard added: "The idea of the steering committee is to respond quickly to any market issues that may affect premiums. Meetings will probably take place quarterly and will allow NFB members to help shape the scheme to benefit them most."

Gebhard said Zurich would be happy to talk to other organisations. "It obviously wouldn't be the same scheme - this is unique to NFB members. We'd have to look at the individual needs of the trade association and develop a solution to meet its members' needs."

The NFB scheme covers employers' liability insurance, public and products liability, and contractors all risks, as well as a range of specialist products.