Manufacturers/Distributors declare the machinery they need to insure to us using a purpose built online portal.

Our portal automatically generates and sends an invoice for payment. Manufacturers/Distributors can see all their insured risks through their own dedicated Power BI report.

Manufacturers / Distributors can use both their own in-house engineers or manufacturer approved engineers to replace parts that have failed and do not need prior approval from us. Claims are submitted online using our bespoke online portal.

We assess claims in line with the pre-agreed service levels. By having a CLIP in place, the need to hold large quantities of parts in stock can be avoided. The insurer will pay up to the market price for any component that needs to be replaced and this can be sourced at the time of the failure.

CNC Maintenance Contract Insurance policyholders have a contract directly with the insurer. The policy is arranged and administered by Specialty Risks.

Machinery declared to Specialty Risks by the Manufacturer / Distributor using the purpose build portal is automatically loaded into Specialty Risks proprietary platform, SPECS.

CNC Maintenance Contract Insurance policyholders are invoiced as soon as the declared machinery is accepted. The majority of machinery is accepted immediately. Premiums must be paid to Specialty Risks, who hold the premium on a risk transfer basis, within the prescribed payment terms.