Specialist scheme launches for UK’s growing hand-crafted goods sector


Sterling Insurance Group, the high net worth and commercial SME insurance specialist has created a specialist insurance scheme with Wigan-based Walmsleys Commercial Insurance Brokers (WCIB) for the UK’s 85,000 “hand-crafted” goods businesses.


The scheme is called Craftcover.com and covers the policyholder against legal liability arising from injury or damage caused as a result of their business activities or products.


The basic cover comprises Public & Products Liability, and is the only policy in the sector to include cover as standard for travel to and attendance at exhibitions, fairs and shows anywhere in the EU. Policyholders can choose their limit of indemnity up to £5 million. Importantly for this sector, policyholders can opt to cover demonstrations, tuitions and workshops which are growing in popularity, as well as exports to the USA and Canada.


There is also the flexibility to enhance the basic policy by opting for additional covers. Property All Risks covers all business property and stock (including cover for “attractive stock” – high value items such as wines & spirits, jewellery, precious metals) at the premises, whilst at exhibitions, shows or fairs anywhere in the EU and automatically includes cover for money and goods in transit. Employers Liability, BI, Deterioration of Refrigerated Stock and Terrorism are also available.


The heritage craft sector employs nearly 210,000 people in the UK, with up to a further 112,000 who work on an ad hoc basis. The cover has been designed for people either working from home or in a small studio or industrial unit. With the popularity of internet sites such as Etsy and Not on the High Street, small sellers are now able to reach a much wider audience, often international, which increases their insurance risks.


Sterling saw off three other insurers to work with WCIB on the new scheme.  It is providing the underwriting capability and claims management whilst WCIB itself has built the website and quote and bind system and will be responsible for maintaining the platform, marketing the scheme and dealing with customer accounts.


Sara Simmons, Schemes Director at Sterling Insurance, comments: “As a specialist insurer that excels in niche commercial schemes and building close relationships with brokers we are really pleased to be working on this initiative. Working with WCIB, we’ve recognised that this is a huge and growing market with evolving insurance needs, particularly with the number of people now selling online and to export markets. We’ve been able to design a policy that covers many risks, particularly attendance at exhibitions and trade shows, as standard.”


Alison Bellamy, Project Director at Craftcover.com comments: “Walmsleys are craftwork enthusiasts and we have combined our insurance knowledge with this passion. This policy is fully flexible, allowing the holder to tailor the cover to their specific needs. And it is also the first one within this sector to offer a fully automated online platform where they can incept, change and renew and pay for their policy online.”




Media contacts


SJ Douglas at Spotlight Consulting on 07909 546104 or sj@spotlightconsulting.co.uk


About Sterling Insurance Group


Sterling Insurance is a UK subsidiary of leading French mutual insurance group Covéa, who are number one for property and liability insurance in France and served over 11.3 million policyholders, with earned premiums of €16.5bn in 2014.


Sterling Insurance provides a diverse range of niche insurance products including: Mid and High Net Worth Household; SME Commercial; Short term income Protection; Personal Accident; and Life from its regional offices around the UK. It also provides insurance administration and technology services to some of the country’s largest financial institutions.  Its 2014 turnover was 151 million GBP and it has 387 employees, with the majority based at its offices in West Malling, Kent.


About Walmsleys Commercial Insurance Brokers (WCIB)

Craftcover.com is a trading division of Walmsleys Commercial Insurance Brokers Ltd (WCIB). WCIB are a leading firm of Chartered Insurance Brokers based in Wigan in the North West, and have been trading since 1926, providing a specialist insurance service to a wide range of clients, both locally and nationally.


As Chartered Insurance Brokers they are registered in England No: 4947118 and are authorised and regulated by the Financial Conduct Authority (www.fca.org.uk) Ref No 307247


WCIB are proud to be members of Brokerbility – a group of highly ethical, well respected independent insurance brokers that jointly control in excess of £450m of premium income.


WCIB recognise that different businesses require different insurance solutions, and have a track record of developing select services to suit specific business sectors.


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