For too long insurance in the waste sector has received negative press, largely brought about by a number of high profile, well publicised fires resulting in many insurers pulling out of the market.
Direct Insurance Group, through its Wasteinsure division has been specialising in the provision of insurance and risk management for more than 10 years. In this time, we have witnessed a complete evolution from what was once a simple haulage based business to a technology driven, environmentally aware, multi billion pound industry.
We have developed a unique approach to identify good operators, with a view to providing long term solutions to their insurance needs. In fact, we have been in the beneficial position of always being able to provide coverage to our customers, despite recent market turmoil. Our view is to work closely with responsible operators, review their operations, identify risk and put together an appropriate and commensurate risk management plan. This can involve, various and sometimes unconventional techniques to reduce the ultimate risk of fire.
Growth
By market share, Wasteinsure is the biggest specialist provider to the waste and recycling sector in the British Isles. The brand grew quickly by working with trade bodies, the Environment Agency and the insurance industry. This coupled with an in-depth understanding of recycling and waste management in general meant the companies who found it difficult to obtain competitive cover were able to work with Wasteinsure on a long term basis.
We spent a long time with Hiscox explaining the virtues and benefits of providing insurance to good operators, including the level of detail needed before any operation would be considered. Hiscox could see that our selection process meant that only responsible businesses, with experienced management and proven procedures are accepted. We are confident this is a step in the right direction for our clients and the industry in general. The goal was always to offer choice, capacity and security to the operators who are serious about the risks involved in this sector.
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