We’ve worked with Central Bedfordshire Council for more than 5 years now. Our insurance alchemy began with a thorough audit of current covers and a review of historical claims. We quickly got to work, removing any and all inappropriate cover and incorporating elements of self-insurance. The council could then efficiently undertake procurement processes. We enabled direct access to markets, reduced costs and enabled high-quality consultative advice when necessary.

What did Central Bedfordshire Council have to say about us? 

Risk Factor;

  • evaluated the lines between risk and insurance strategy and core stability
  • gave us advice and recommendations on ways to reduce cost with the correct cover which led to savings
  • evaluated the fees we pay to brokers to demonstrate the inappropriateness of cover and the cost we don’t need to pay
  • provided a detailed analysis of the organisation and past claims to support either the renegotiation of terms or lead to alternative methods of risk transfer


We have been working with Risk Factor to source cover for our professional risks, some of which were legal requirements. Due to our unique business model and the bad press around credit facility providers, there were very few insurers able to offer terms. Where they did, the premiums were far beyond our budget.

Ultimately, our service provision and growth plans may have been at risk if economical cover could not be found. Thankfully, Risk Factor took the time to truly understand our exposures and explained this to underwriters so that our risks were not taken at face value. They found an insurer who hadn’t previously underwritten cover for our type of business but felt comfortable working with Risk Factor. They understood the social values we represent and ultimately how this lowered their exposure. As a result, a bespoke policy was placed and we now have insurance in place precisely suited to our requirements that is, crucially, within budget! We can now move forward with our plans and expand to benefit other communities.

You always see companies promising to ‘tailor cover to fit’ or provide ‘bespoke’ policy cover, but this one really is that, designed just for us.

Vicki McCourt, Karbon Homes
On behalf of The Smarterbuys Store Ltd.


Performing an initial audit can begin a successful process of purging unnecessary elements from cover. A client in the education sector said this of Risk Factor:

“Risk Factor came in to do an audit on an FE College clients’ existing insurance arrangements. Clarifying and rationalising everything made so much sense. We had covers that were not suitable and not going to pay out in practical terms, but because the board were risk averse, we had just kept renewing it. The Risk Factor helped us properly understand the cover and the reasons why it was unlikely to ever apply to us. We saved over £15,000 just on that one item, and the board members can still sleep at night, while the staff, students and College benefit from the redistributed savings.”


Risk Factor delivered workshops earlier this year and they were very well presented. The agenda included a number of current insurance practitioner-focussed issues and Risk Factor addressed exactly the right subject content and coverage. Rhiannon really does a fantastic job in identifying participants’ varying needs and meeting them comprehensively. Public bodies have complex insurance challenges and relationships with insurance providers and brokers, and it was assuring to listen to a well-grounded and open discussion that will allow organisations to ensure they have control and transparency in their insurance arrangements.

Mohamed Hans, Solicitor and Principal Advisor of the CIPFA Procurement & Commissioning Network

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