What Information Do Insurance Companies Look For?

Insurance companies will usually expect you to give them the following:

1. Full details of:

   • Your business name, address, contact details, etc
   
   
   
   • Companies within the Group
   
   
   

2. Your business background, including:

   • Brief history of the company (or companies)
   
   
   
   • Work experience of directors/ principals/ senior managers
   
   
   
   • Brief description of the type of work the company has successfully done in past.
   
   
   

3. Details of how the Company has grown in recent years.

   Insurance companies will be keen to know how safety issues are being managed during periods of rapid expansion.

4. Full details of any major contracts undertaken: both recent work done and contracts in the offing

5. Turnover figures for past 5 years – split between the different types of work – and projections for coming year

6. Payroll figures:

   • Details for past 5 years and projections for coming year
   
   
   
   • The different categories of employees you have - showing the numbers employed and wages paid.
   
   
   
   • Split between full time and casual employees
   
   
   

7. Details of payments made to any ‘labour-only’ and ‘supply and fix’ sub-contractors in the last five years (where relevant)

8. Details of your current insurance company, policy renewal date and 5 years premium history

9. Full details of all claims/ accidents in past 5 years.

10. How you manage safety, including:

    • Copy of safety statement / documentation/ records kept
    
    
    
    • Employee involvement / communication (e.g. details of Safety Committee)
    
    
    
    • Details of in-house and independent safety audits undertaken on your behalf
    
    
    
    • Details of safety training courses undertaken
    
    
    
    • Details of safety equipment supplied (and system in place for monitoring / enforcing its use)
    
    
    
    • Accident investigation procedures
    
    
    
    • Total amount spent on safety
    
    
    

11. It also helps to give:

    • Details of your employee recruitment and induction procedures
    
    
    
    • Company brochure (if available)
    
    
    
    • Information about your Industrial Relations record.
    
    
    
    • Details of what you’ve done in the past year or so to improve safety.