The Proof of the Pudding – Our Partnership Stands the Test
They say that you get to know who your real friends are when the going gets tough.
At the start of the pandemic, the outlook was bleak for employers and the insurance industry did not exactly cover itself in glory by failing to pay up on infectious disease and travel insurances.
In our specialist field of employment protection and against a backdrop of an ever-increasing number of Tribunal claims many Insurers declared this market sector was no longer viable, with no potential for future underwriting profit.
Employers facing difficult choices over how to restructure their businesses were left high and dry, with cover refused or subject to huge excesses (typically £10,000), sometimes without proper notification.
One day the business community had protection against ET claims relating to redundancy selection, unfair dismissal or discrimination and the next day they didn’t.
Where cover was available employers found that premiums had increased exponentially alongside onerous terms, often with redundancy related claims excluded.
Unless they had partnered with Straight Solutions that is. It’s our proud boast that no employer had their cover withdrawn, increases in premiums and excesses were modest and other terms were unaltered. We and our selected insurance partners provided concrete proof that we were in the market to stay and could be trusted to provide the essential continuity that was lacking elsewhere.
We would like to thank you all for your support through these difficult times and hope you can spread the word that when it comes to employment protection insurance, we are the business partners of choice.
Please feel free to contact us if you have any insurance questions.
