In conjunction with the Electrical Contractors’ Insurance scheme, the Scottish electrical industry trade association, SELECT, has pioneered a bespoke business insurance scheme that it says will provide its members with several new benefits.
The newly announced scheme from SELECT, tailored specifically to meet the commercial insurance needs of companies and individuals, is said to already have created quantifiable savings and provide better cover. The scheme covers a large range of products such as employers’ liability and professional indemnity insurance, and now offers single van insurance for the first time – a key consideration for a large number of members who cannot qualify for economies of scale such as fleet discounts due to operating as sole traders.
SELECT member services manager, Martin Reid, remarked that the trade association’s members have already reported significant savings through the use of he scheme, which can also be found through its availability through SELECT’s website. The ECIS scheme, which differs from a more standardised offering, was specifically designed with the needs of the electrical contractor market in mind, said Mr Reid, and is being operated by people with a keen understanding of the sector, which is unique due to the high level of skill and challenging technicality required of its members.
The member services manager remarked that, because those handling claims will have a keen awareness of the trade and all that it entails, when an electrician phones in a time-sensitive report, such as of the theft or loss of a specialised tool, the replacement of the tool will be expedited in order to finish the task at hand in as swift a manner as possible.
Mr Reid also said that members of SELECT are privy to several benefits for their membership, and this new insurance scheme is just one more new benefit.