Picture of Supporting Airhive’s Expansion with Innovative Insurance Solutions

Supporting Airhive’s Expansion with Innovative Insurance Solutions

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Sustain Insurance Brokers was established with the mission of driving positive societal impact by providing innovative insurance and reinsurance solutions for progressive, ESG-focused organisations. One of our key clients, Airhive, exemplifies this ethos. Founded in 2022, Airhive is a world leader in the design, manufacture, and implementation of direct air capture devices. These cutting-edge devices extract carbon dioxide from the atmosphere, mainly for long-term storage but also for utilisation in real-world processes to reduce environmental impact. Until recently, Airhive’s focus was on laboratory and site-based prototype machines, but they have now entered a significant new phase: scaling up to production.  

Airhive approached Sustain Insurance Brokers for comprehensive insurance coverage to support the deployment of their first large-scale production machine in Canada. This marked a critical juncture in their growth journey. However, this project posed several complex challenges: 

  1. Geographic Risk Appetite: Many UK-based insurers are reluctant to cover projects in the US and Canada on a standalone basis due to perceived legal and operational complexities. 
  2. Specialised Machinery: The unique nature of Airhive’s equipment introduced significant uncertainty among insurers regarding potential exposures, particularly relating to machinery breakdown risks. 
  3. Comprehensive Coverage Requirements: The client required an erection all risks (EAR) policy to provide robust protection during unloading, installation, and commissioning of the equipment. 
 
Our Solution

Leveraging our expertise in securing bespoke insurance solutions, Sustain Insurance Brokers devised an innovative approach to address Airhive’s needs. Key steps included: 

  1. Strategic Partnership with a US-Based Insurer: Recognising the limitations of the UK market for this project, we collaborated with a European subsidiary of a US insurer experienced in underwriting large-scale engineering risks in North America. 
  2. Erection All Risks Policy: We secured a comprehensive EAR policy that covered the equipment on an all-risks basis during the critical phases of unloading, installation, and commissioning. This ensured that Airhive’s operational and financial interests were safeguarded. 
  3. Pre-Agreed Future Capacity: To support Airhive’s anticipated growth, we negotiated a pre-agreed premium structure for future projects. This provided the client with valuable certainty on pricing and coverage as they continued to scale their operations. 

 

This case study highlights Sustain Insurance Brokers’ commitment to empowering ESG-focused organisations through customised insurance solutions. By overcoming geographic and technical challenges, we supported Airhive in their mission to combat climate change and advance sustainable technologies. Our partnership continues to evolve, driving innovation and progress for a better future.

January 2025

Picture of Kid-A and Sustain Insurance Brokers

Kid-A and Sustain Insurance Brokers

Kid-A is a forward-thinking organisation and proud B Corp, reflecting their commitment to sustainable business practices. Their previous insurance arrangements, however, left them feeling unsupported and underserved, prompting them to seek a broker who understood both their values and their business needs. 

During the initial meeting with the Managing Director of Kid-A, it became clear that their existing insurance arrangements were not meeting what was required of such a growing business. The incumbent policy, which had been in place for sometime, operated on a non-advised basis, meaning the insurer acted only on instructions without offering professional advice. Furthermore, the Client shared frustrations over a lack of responsiveness and a contact person at the insurer who didn’t fully understand their business. 

Our Solution 

Nicola Wyatt, our Senior Insurance Practitioner, quickly identified a way forward: 

  • Values Alignment: As a fellow B Corp, Sustain Insurance Brokers resonated strongly with Kid-A’s ethos, creating an immediate connection of trust. 
  • Comprehensive Review: Nicola conducted a thorough appraisal of the insurance market to explore alternative options. While some new policies offered competitive terms, the Client preferred consolidating coverage under a single insurer for simplicity and cost efficiency. 
  • Policy Adjustments: Rather than replacing the program entirely, Nicola worked with the incumbent insurer to amend the existing policy, ensuring it correctly covered all aspects of Kid-A’s operations. 
  • Dedicated Point of Contact: Nicola became their single point of contact, providing regular updates, immediate responses to queries and expert advice fostering confidence and clarity throughout the process. 

By addressing gaps in coverage, maintaining cost efficiency and providing proactive communication, Nicola transformed Kid-A’s insurance experience. Kid-A now enjoy the peace of mind that comes with having an expert adviser who understands his business and manages their insurance arrangements effectively. 

Nov 2024

Picture of  Farringford Legal and Sustain Insurance Brokers 

Farringford Legal and Sustain Insurance Brokers 

Farringford Legal is a boutique legal firm specialising in providing legal services to both fast growing SMEs. As a rapidly growing firm, they sought an insurance solution that would not only meet their risk requirements but also be cost-effective. 

Solution by Sustain Insurance Brokers: 

Upon engaging with Farringford Legal, our team at Sustain Insurance Brokers undertook a thorough analysis of their specific insurance needs. A key insight was that, unlike many law firms, Farringford Legal was not registered with the Solicitors Regulation Authority (SRA).  

This distinction opened up a broader range of insurance markets that could be approached, allowing us to seek competitive quotes from insurers not constrained by SRA-related requirements and ultimately save them thousands of pounds.  

By taking a lateral approach to the assessment of a clients risk profile, Sustain Insurance Brokers successfully addressed Farringford Legal’s need for affordable and comprehensive insurance.

Oct 2024

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