Square Pegs was established in August 2019 and is the underwriting unit within Castel that provides commercial insurance for UK small and micro businesses.
We specialise in providing cover for clients with unusual features, such as uncommon or complicated trade activities. We call these clients ‘Square Pegs’, as their needs do not fit the standard off-the-shelf, ‘round holes,’ products.
Some of the Non-standard aspects that can be catered for are:
- High risk locations worked at
- Home workshops or distribution
- Imports or exports
- New ventures
- Prior financial problems (bankruptcies / liquidations)
- Unusual or interesting products
- Unusual trades or combination of trades
- Work at height
- Work overseas
We can provide a broad range of policy covers, to clients with more bespoke needs such as:
- Public, Products and Employers’ Liability
- Contractors All Risks
- Property Damage – Buildings, Contents, Stock
- Business Equipment, including cover away from the client's premises
- Business Interruption
- Deterioration of Stock
- Employee Theft
- Goods In Transit
- Loss of Licence
- Commercial Legal Expenses
Sectors and Regions of Coverage :
UK domiciled clients including Northern Ireland.
Maximum Line Sizes:
- Liabilities - £10m any one occurrence
- Property - £2.5m total sum insured any one location
All quotes and policies are distributed to UK retail brokers via the Square Pegs Portal – a full-cycle electronic trading platform designed for our broker partners. The flexibility of the portal allows brokers to place these ‘Square Peg’ clients as new business, as well as allowing them to amend or renew existing policies.
Through the Portal, cover can be tailored to suit each client’s needs. We don’t impose a package of covers; a client can choose exactly the right cover for their business. For those businesses with more complicated needs, enquires can be referred to underwriters, via the Portal, for review. In most cases, referrals can be resolved on the same day, ensuring brokers get the prompt service and underwriting support they need.
Visit the Square Pegs website here https://sqpegs.co.uk to find out more.