A fall in the price of scrap metal and in particular lead, has helped the specialist ‘church insurer’ Ecclesiastical to recover from huge losses this time last year, to report a healthy £25.7million pre tax profit for the first six months of the year.
Chief Executive of Ecclesiastical Michael Tripp said that one of the key factors in the losses posted this time last year was the high value of lead which has since fallen in value along with the number of claims being made against the insurer.
Ecclesiastical have also been helped by the use of SmartWater, a forensic fluid that illuminates an owner’s unique code under ultraviolet light.
“One of the key things was the metal thefts we were battling. That has reduced and had a real impact. The cost of lead has gone down, which makes it uncommercial for thieves. We have SmartWater, are encouraging vigilance and working with other organisations. Also, you cannot have unlimited cover. All these things taken together help.” said Tripp.
Focus for Ecclesiastical for the coming year is firmly on the niche market of insuring churches, where the company offers a high quality product and service to its customers.
“We are focusing on our niches and not drifting away from being a specialist,” said Michael Tripp.
0 comments so far
There are no comments for this post yet. Why not be the first by filling out the form below.