MAGNET INSURANCE SERVICES
MODEL RAILWAY INSURANCE
“Gone are the days when high-street retail brokers were the dominant force in the personal lines sector,” says Tony Bound, managing director of Magnet Insurance Services. “With the interesting developments within insurtech … plus the lucrative distribution potential personal lines offers to global trusted online brands, such as Amazon and Facebook, the personal lines distribution landscape is once again on the brink of major change.”
To compete in the increasingly challenging personal lines market, Magnet Insurance offers a range of specialist insurance products, such as model railway insurance, which insures more than 70% of the model railway clubs and exhibits in the UK, and includes covers for risks related to event contents and cancellation, transit, stock, as well as public liability. Magnet recognises that customers in niche sectors look for insurance experts to solve their insurance and risk management needs, as they understand the value of receiving expert advice delivered by a specialist.
“Such as in our case for mid- to high-networth, non-standard residential property or model railway insurance, implementing highly focused on- and off-line niche marketing, demonstrating sector expertise within our chosen specialist areas, is where we as small independent brokers can outmanoeuvre the big guns,” says Bound.