Ring In The New
Our Plans for 2012.
Our plans for 2012 assume another challenging year. We anticipate inflation will return to low levels, economic growth will be minimal and competition will remain fierce. There is plenty of capacity with financially acceptable Insurers causing insurance premiums to remain stable, so the message we take forward in 2012 is that any ‘success must be fully earned and well deserved”. In 2011 MPW were awarded ‘Chartered Insurance Broker’ status recognised as the gold standard for quality of service and professionalism. We were featured in the Insurance Age list of top 100 independent brokers and completed a re-brand celebrating 25 years in business.
These achievements result from the desire to ensure that we are able to offer the best advice and highest service standards to our existing and new clients. MPW choose to operate an ethical and socially responsible business and aim to continue to invest further time and energy to help support our chosen charitable institutions and support our commitment to the South East Business Carbon Hub.
Our efforts to raise and maximise our own performance and standards stand alongside this commitment and there are some optimistic signs. UK construction grew for a twelfth consecutive month in December albeit nominally and the construction sector accounts for 7.6% of the UK economy. This increased activity may account for a small increase in Construction Insurance premiums. I feel there is a strong possibility that a Consolidator Insurance Broker will disappear in 2011 as the burden of debt and the reduction of profit may lead to the breaking of banking covenants and the difficulty in re-financing in a market where capital is scarce and costly. Our client satisfaction survey results are rewarding and this helps us to improve but at MPW the challenge for 2012 is clear. We must continue to refine and improve our performance and be ready to fully earn each and every success.
Andy Webb
Chairman – 10 January 2012
