Yesterday UMAL hosted their Annual Conference at the Royal Society of the Arts which was attended by delegates from around 50 higher and further education institutions. Paul Cusition, CEO, announced several significant changes ahead of the 2019/20 renewal:

  • General Contributions Rebate for 2018/19  has been agreed at 7%
  • Terror Contributions Rebate for 2018/19  has been agreed at 5%
  • Base Rates will remain flat at renewal on 1st August 2019
  • Almost £3m was returned to Members this academic year in rebates, subsidies and rebated commission
  • Benchmark Claims reporting is being introduced and will be provided quarterly
  • Benchmark report for limits on BI, EL, PL and PI is being provided at renewal
  • Optional “New for Old” extension on Computer Equipment
  • Developing a Contents valuation tool for members
  • Joint Venture with Portakabin on Disaster Recovery/Contingency space planning free of charge
  • Cyber Breach Response product is being launched next week
  • Oil Spill response product is being developed
  • Expanded Drum Cussac Travel Security offering including:
        • One free RiskPro Licence
        • £1,000 per additional licence
        • 50% discount on PeopleMonitor
  • UMAL are making available an additional £100m of Property limit, taking us to £500m per event per member

And finally, and most importantly, UMAL are introducing a Members Loyalty Bonus (MLB). This will provide a 10% annual discount on both General and Terrorism Contributions, in return for members committing to 3 years membership at 1st August 2019. Rates will be fixed for three years, there will be a loss break clause – but guaranteed renewal terms irrespective of loss experience. Members are free to leave by paying back any accumulated bonus.

If you have any questions on any of the above or want to find out more about becoming a member of UMAL please contact one of the team on 020 7847 8670.

Many thanks to all that attended and we hope that you found the day enjoyable and informative.