Oval Insurance Broking (Oval) is the preferred insurance broker to the HVCA and its members and is pleased to be able to offer an exclusive insurance facility for those members.
The HVCA represents the interests of firms active in the design, installation, commissioning and maintenance of heating, ventilating, air conditioning and refrigeration (HVACR) products and equipment.
Oval has worked closely with the HVCA for three years developing a tailor made insurance scheme for HVCA members, through a detailed understanding of their key risks and insurance requirements. This knowledge has been gained by listening to the issues faced by member companies, the requirements that the HVCA see as critical to help protect its members and our knowledge of what the insurance market can provide.
During the three year consultation period many issues were identified with the way that many HVCA member companies were insuring themselves. One of the main issues was the similarities which insurers were drawing between the HVACR and construction sectors.
This alone was causing premiums to be inflated as this is not a realistic comparison to draw. It has therefore been a building block of the whole scheme that parallels are not drawn and the underwriters have designed the programme to reflect this and the stringent standards required to attain membership status.
The scheme is designed to be able to deliver on your primary insurance requirements including:-
- Employers Liability
- Public and Products Liability
- Material Damage and Business Interruption
- Contractors All Risks
- Professional Indemnity
As well as designing an insurance programme specific for the HVCA's activities, the scheme offers some key cover enhancements for HVCA members as part of the package including:
- Legal Expenses provided automatically with a £250,000 limit
- £50,000 Financial Loss cover provided automatically
- Common cover restrictions such as height limits and computer room exclusions removed
- BM Trada audits enabling premium discounting of rates to be applied
- Directors and Officers Insurance can be provided as a low cost option
- Additional covers such as free issue materials and goods in transit
- Dedicated and industry specific Loss Adjusters and Loss Assessors.