Insurance
Introduction
The CPA is a trade association and does not offer any form of insurance cover to companies or individuals. The CPA does work closely with a number of established brokers who can assist individuals or companies with any issue concerning insurance. Their respective contact details are in the 'List of Brokers' section below.
Subrogation Waiver Forms
With the introduction of the Financial Services and Markets Act (2000) (FSMA) in 2002, any company which offers insurance cover to customers must be registered with the Financial Services Authority (FSA). Companies must complete the registration form and submit a registration fee. The legislation requires companies and individuals to annually renew their registration and submit a renewal fee, should they wish to offer this service in subsequent years.
The CPA with the assistance of CMS Cameron McKenna, a top-10 city law firm, together with two CPA Corporate Members - Oval Insurance Broking Ltd and Senior Wright Insurance Services Ltd - devised a Subrogation Waiver Form, which eliminates the payment of any registration or renewal fees to the FSA.
The Subrogation Waiver Forms is used when a customer wishes to hire a piece of plant or equipment, but does not have the necessary insurance cover.
The Subrogation Waiver Forms allows plant owners to offer customers - for a fee - an interest in the plant owner's insurance policy, so that the customer is covered for any loss or damage to the plant or equipment during the Hire Period.
If the plant or equipment is damaged during the Hire Period, then the plant owner's insurance policy will settle the plant owner's claim but will not pursue the customer for the loss.
Plant owners must obtain their insurance provider's prior agreement before offering this service to customers.
Business Subrogation Waiver Form (Cranes) |
Click here to download >> |
Business Subrogation Waiver Form (Non-Cranes) |
Click here to download >> |
Consumer Subrogation Waiver Form (Operator Not Supplied) |
Click here to download >> |
Consumer Subrogation Waiver Form (Operator Supplied) |
Click here to download >> |
List of Insurance Brokers
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Bruce Burke & Co Ltd |
D E Ford Insurance Brokers Ltd |
Giles Insurance Brokers |
Global Insurance Brokers Ltd |
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JCB Insurance Services Ltd |
Joseph W. Burley & Partners (UK)Ltd |
Marshall Wooldridge Ltd |
Oval Insurance Broking Ltd |
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Senior Wright Insurance Services Ltd |
T L Dallas & Co Ltd |
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Plant Finance
| JCB Finance Ltd The Mill High Street Rocester Uttoxeter Staffordshire ST14 5JW Tel: 01889 590800 Fax: 01889 594140 nigel.greenaway@jcb-finance.co.uk |
