Innovative Insurance for Corporates
At Riverside Underwriting Limited (RUL) we design solutions for Corporates. By using our wide product knowledge we have built up over many years, our expertise in excess products and we make extensive use of our technology. All our solutions are underpinned by RUL's outstanding customer service ethos which extends into claim handling process provided by our sister company. Orchard Administration.
Reducing the cost of car rental to business
This is an extremely useful product for any company that hires vehicles on a regular basis. As you know the cost of purchasing excess waiver insurance can be up to £25 per vehicle per day, some companies can be hiring multiple vehicles at a time and this is an expensive but necessary add-on. At RUL we can provide a much more cost effective solution, we have created technology that allows us to offer our clients the option to self-issue policies to cover individual trips with the ability to self administer with monthly payment terms.
RUL's solution has the flexibility to include cars, vans and minibuses and via our specialist portal you can submit any claims arising. We take pride in our excellent claim handling and fast payments once claims have been agreed. This solution can provide your business with savings of up to 70% versus the cost of an equivalent product offered at point of sale by the car rental companies.
Protecting staff from excess payments
Many of the companies who provide company vehicles to their staff also make those staff liable for the excess if the vehicle is damaged. With this in mind, RUL has created programme that transfers the liability of the excess to an excess protection insurance policy. We can work with you on a salary sacrifice scheme or provide a simple solution so that staff can purchase the policy for themselves.
This product is tailored to fit the exact needs of the individual company, terms are available based on the number and type of vehicles in the fleet, declared at the inception of the policy. We can also offer a range of flexible payment options to suit. The flexibility of this type of policy means that a final declaration is made by the company at the end of the policy period to calculate the final annual premium paid.
Transferring the cost of damage to hire vehicles
RUL has designed and implemented specialist schemes that allow independent car rental companies to transfer the risk of offering an excess waiver programme to an insurance solutions whilst maintaining a healthy margin on providing your customers with the convenience of an excess waiver.
All claims on the programme are handled through Orchard Administration, providing detailed statistics on the cost of dealing with damage being incurred, this is an area that is regularly overlooked.
RUL and EU sister business Riverside Insurance Agency Malta Limited can manage programmes in the UK and EU.