Mutuality in Uncertain Times

In his address to the recent Unimutual 20th Anniversary Conference, Alan J Robb, an Independent Financial Commentator and Cooperative Business Consultant, takes a look at the challenges and opportunities for mutuals in the wake of the recent global financial crisis.

Regis Mutual Management Limited announces purchase of Hazchem Insurance Solutions

On 31st July 2009, Regis Mutual Management Limited (RMML) completed the purchase of Hazchem Insurance Solutions, a trading division of Lloyd’s broker, Carroll and Partners Limited.

Under the terms of the agreement, RMML has acquired the assets and staff of the Hazchem business, the interests of Hazchem Insurance Solutions Limited and the interests of Hazchem Risk Management Limited. RMML has transferred the business into Hazchem Holdings Limited.

Established in 2006, Hazchem Insurance Solutions has already built a significant brand; it has enjoyed considerable success and has become one of the leading providers of specialist insurance solutions and risk management services for hazardous chemical businesses.

With this pedigree and an affinity amongst Hazchem businesses, the purchase of Hazchem Insurance Solutions provides an exciting future opportunity to expand it’s proposition and scope of services across the sector.

Hazchem Insurance Solutions will continue to operate as a specialist intermediary with the added dimension provided by its new parent providing additional resources to support the continued growth and, development of new services and products.

For further information on Hazchem Insurance Solutions please contact John Meredith or Andy Bye on 0207 0430 0530 or email info@hazcheminsurance.co.uk or visit the Hazchem website, www.hazcheminsurance.co.uk

Head Office move

We are pleased to inform you that we are relocating our head office from Bermondsey Street to:

7 MALTINGS PLACE

169 TOWER BRIDGE ROAD

LONDON

SE1 3JB

The office telephone number (020 7043 0530) and direct dial numbers will remain unchanged as will mobile numbers and email addresses.

The move will take place on Wednesday 29th July and there will inevitably be some disruption to normal operations on the day. If you need to contact us on the 29th and can’t get through on the main office number, please use our mobile phone numbers. Normal operations will recommence on Thursday 30th July 2009.

Please note that the current facsimile number will be changed to

+44 (0)207 403 6617.

If you still have a record of the temporary phone number we used in our first few weeks at Bermondsey Street (020 7403 5521) please delete it from your phone book as the line will be disconnected following the move.

We look forward to welcoming you at our new offices in the near future.

David Lloyd

It is with great sadness we report that David passed away suddenly on 22nd May. David worked with Regis & Partners as new business consultant. He is greatly missed by his wife, son, family, friends and colleagues.

An alternative to being priced out of the insurance market

Today in the UK, new mutual insurers are being established demonstrating a market demand and the need by groups of individuals to look at alternatives to being priced out of the insurance market.

From The Association of Mutual Insurers website, June 2009

This is the dawning of the age of the mutual

A few years ago many commentators would have said that mutuals were going the way of the dodo as institutions rushed to access the capital markets.

Today, many suggest that mutual status has protected mutual firms from the excesses that overtook their quoted brethren.

From The Times, 3 March 2009

The time for mutuals may have returned

Modern mutual insurance developed with ship-owner groups in the eighteenth century who were dissatisfied with the cost and scope of the insurance available to them - and they successfully survive until today.

This may be because the availability and price of insurance can still be a problem.

So could other groups profit from following their example?

'Leaving the Back Door Open'

Why it's always good to have an alternative

Pilots working out their flight plans are trained to have an alternative – somewhere they have enough fuel (and reserves) to be able to fly to, if they cannot reach their original destination. It is called 'leaving the back door open'.

In creating risk protection plans, David Lloyd, a consultant with Regis & Partners, Perth, argues that the same thinking should apply – and that mutuals offer a sensible and practical alternative.