Offering certainties over both cash flow and insurance cover for electricians at a challenging time for the sector, ECIC, the specialist insurer for the construction industry, has launched a two-year fixed rate deal on insurance quotations for electricians, issued through a broker before the 30th November 2015.
In a recent survey of electricians, ECIC found that a staggering 89 per cent were experiencing increased pressure due to the industry’s skills shortage. Furthermore, 58 per cent did not see their income increase over the last year.
ECIC is not only offering a two-year fixed rate deal so that electricians can budget for their insurance premiums with some confidence, they are also offering the facility to spread payments with up to 12 interest-free monthly instalments.
Phil Scarrett, sales and marketing director for ECIC, said, “As a wholly owned subsidiary of the Electrical Contractors’ Association, ECIC has a unique understanding of the risks and challenges facing the electrical contracting sector. We have therefore created this two-year fixed rate deal to offer electricians some pricing stability at a time when the industry is facing a number of challenges.
“With working ramping up, there’s not only a severe skills shortage to contend with, but more work creates the need for more supplies, which puts added pressure on cash flow. Knowing that their insurance premium isn’t going to change over the next two years will bring some welcome certainties to electricians, allowing them to focus on the day job.”
Owned by the ECA, ECIC provides cover specifically designed for electrical contractors with interest-free instalments and a dedicated in-house claims team. ECIC provides specialist policy cover for contractors within the following sectors: Electrical (including domestic, commercial and industrial), heating, ventilation and air conditioning, electronic security (including fire and security alarms) and renewable energy.
source : http://www.electricaltimes.co.uk/news/story/ecic-fixes-it-for-electricians