Programme review

What a programme review summary looks like (illustrative example)

A programme review summary is a one-page note, written for a board, partners, governors or trustees, setting out what an insurance programme covers, what is working, where the gaps are and what to do next. This example is illustrative: the firm and figures are invented.

Part of: Insurance programme review

In short

At the end of a free programme review, Apex writes a one-page summary that can go straight into a board pack. It lists each cover with its limit and renewal date, marks what we would leave alone, flags gaps and mismatches, and ranks the actions with what each needs from you. If nothing needs changing, it says so. The example below is for an invented 120-person consultancy and is illustrative only; it contains no premiums.

Example: programme at a glance

Illustrative only. Prepared for the board of an invented 120-person engineering consultancy, ahead of a 1 April renewal.

Cover	Limit / basis	Renews	Our view
Professional indemnity	£5m each and every claim	1 April	Check: two framework contracts ask for £10m. Options for an excess layer to be explored.
Employers’ liability	£10m	1 April	No change needed.
Public and products liability	£5m	1 April	No change needed.
Office contents and business interruption	BI on gross revenue, 12-month indemnity period	1 April	Check: 12 months looks short for a firm that would need to rebuild its client base after a major loss.
Cyber	£1m	15 June	Gap: separate renewal date and no review of the limit against the firm’s client data. Align dates and review limit.
Directors’ and officers’ liability	£2m	1 April	No change needed.

Example: what is working

Employers’ liability, public liability and D&O limits are in line with the firm’s size and contracts.
The PI retroactive date carries back to the firm’s formation, so past projects remain covered, subject to the policy terms.
The last renewal submission was thorough, which helps the firm’s position with insurers.

Example: recommended actions, in priority order

Professional indemnity limit. Two framework contracts require £10m. Either negotiate the clause or obtain terms for an excess layer before renewal. Needs: copies of both contracts’ insurance clauses.
Business interruption period. Consider 18 or 24 months. Needs: a short note on how long the firm would take to recover its income after a major loss.
Cyber. Move the renewal date to 1 April and review the limit against the volume of client data held. Needs: a completed cyber questionnaire.

What the summary does not do

The summary reflects the documents the client sends and our reading of them. It is not a quote, it is not a guarantee that cover will be available on particular terms, and it does not replace legal advice on contract wording. Any change to cover depends on what insurers will offer at the time.

Every review ends with a one-page summary written for the people who have to sign off the decision: your board, partners, governors or trustees. It is designed to be put in a board pack as it is.

Your programme at a glance: each cover, its limit and excess, and when it renews.
What is working: the parts of the programme we would leave alone, and why.
Gaps and mismatches: for example a limit below what your contracts require, an exclusion that bites on your actual work, a business interruption period that looks short, or a rebuild value that has not been checked.
Recommended actions, in priority order, with what each one would need from you.
A plain statement if nothing needs changing. If your current arrangements are right, the summary says so.

Frequently asked

Who is the summary written for?

The people who sign off the insurance decision: a board, partners, governors or trustees. It is short enough to go into a board pack as it is, with the detail available from the broker if anyone asks.

Does the review cost anything?

No. The review and the summary are free and there is no obligation. Apex is paid in the normal way only if you later choose to place cover through us.

What if our current arrangements are fine?

Then the summary says so. A second opinion that confirms your programme is right is still useful evidence for a board that the question has been asked.

Want one for your programme?

Email your schedules, wordings and renewal date, or start with a call. Or call 0117 325 0027.

Start a quote Call 0117 325 0027

Apex Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales, company number 07014570. This page is general information, not advice on your individual circumstances, and it does not guarantee that cover will be available or on what terms.