NFRC launches its best-value insurance

The National Federation of Roofing Contractors (NFRC) has launched an insurance scheme for its members that offers "best-value insurance protection".The scheme, underwritten by specialist building services insurer, the Electrical Contractors Insurance Company (ECIC), is the culmination of more than nine months joint analysis by the ECIC and the NFRC to establish and profile members' work exposures, accident records and insurance histories.ECIC managing director Bill Adamson told CJ: "An underwriter's job is to predict people's misfortunes. The main misfortune for roofers is falls from height. "However, our analysis shows that only 25% of NFRC's members' claims last year involved falls. This is particularly good when you compare it to the 60% figure for the electrical industry," Adamson said.Asked if the scheme guarantees a renewal quote for all NFRC members, Adamson added: "Normal underwriting criteria applies, but I believe the majority of members will be accepted."The initial focus of the scheme will be on the provision of core liability insurance, but in three months time the ECIC will restructure the scheme to include contractors all risks, and property and business interruption insurance.NFRC chief executive Edward Cowan said: "The scheme brings new capacity into the market, particularly with the recent exit of underwriter MMA. "Benefits include: a free 24-hour helpline to provide legal advice on any business-related issue; a 10-month interest free instalment; and most importantly, insurance at about 10% below market rates."Although the scheme is unique to the NFRC, the ECIC is planning on working with other trade associations to develop similar schemes."We've used our template of policies from the past 26 years to develop this scheme, and our intention now is to look at other related industries to see if we can do something similar," said Cowan.