Scottish non-domestic water supplier unveils new emergency cover
GLASGOW, Scotland, June 30, 2009 -- Business Stream, Scotland's main non-domestic water supplier, has launched a new service with insurance broker and risk adviser Marsh to provide emergency cover for its customers...
GLASGOW, Scotland, June 30, 2009 -- Business Stream, Scotland's main non-domestic water supplier has today launched a new service with the world's number one insurance broker* and risk adviser Marsh to provide emergency cover for its customers. The introduction of the new product is a leading proposition within the UK non-domestic water industry and highlights further innovation being introduced into Scotland's non-domestic water market since it was opened to competition in April 2008.
Business Stream Emergency Cover is designed to keep its customers up and running in the event of water-related emergencies, including problems with plumbing and drainage, as well as electrical and gas pipe faults, heating breakdown and pest infestation. For £15 a month^, the policy will provide 24/7 cover for customers and, in most cases, guarantee a two hour response in the event of a crisis**.
The new product further underlines Business Stream's commitment to innovation for its customers. Over the last year, the company has introduced more than 50 new services and saved their customers in Scotland over £5.5m.
Business Stream chief executive officer Mark Powles said: "This is an exciting innovation and a first for businesses in the UK. We're delighted to be working with Marsh, the leading and respected insurance broker and risk adviser, to provide the Emergency Cover product. This will protect our customers and help ensure their businesses can get back up and running after an emergency.
"The introduction of this new service is a further example of how we are introducing innovation to the marketplace, responding to the needs of our customers and giving them added value."
Alastair Burns, Head of Client for Marsh Global Consumer UK said: "The launch of this product demonstrates Business Stream's commitment to finding new and better ways of delivering for its customers. The Emergency Cover package is a leading and cost-effective product and will be rolled out initially to businesses and public sector organizations in Scotland."
Business Stream Emergency Cover will be rolled out in phases to customers across Scotland from June 2009.
A wholly-owned subsidiary of Scottish Water, Business Stream has been formed as an arms-length company with its own board and independent management team. Its goal is to provide a first class service for business customers and respond to the challenge of other established utility companies entering the new, competitive market that opened on 1 April 2008.
Under the Water Services etc. (Scotland) Act 2005, Scottish Water had to split its operation into wholesale (Scottish Water) and retail (Business Stream) units. Although ostensibly remaining a part of Scottish Water, Business Stream is a new business working completely independently in order to ensure fair and transparent retail practice under the rules of the new competitive marketplace for business customers.
* Ranked 'Number One Broker' in 2008 for 37th consecutive year -- Business Insurance Magazine.
^ Annual cover costs £180 inclusive of Insurance Premium Tax
** Engineers will always try to attend the emergency within two hours of getting the instruction. However, for all areas outside mainland Scotland this may not be possible as they are: a) reliant on the frequency and availability of local transport links b) subject to increased travel time due to the mode of transport, increased distance and weather conditions. You'll be advised of the expected arrival time of an engineer when you call and the engineer shall also contact you within 15 minutes of the call-out booking to confirm the time of arrival.