Specialist Housing Association risk advisor ‘Overark’ launches
Offers risk financing, risk management and insurance solutions exclusively to Social Housing sector
November 9 2016 – Today marks the launch of Overark Limited, a UK-based managing general agent established to provide risk and insurance advisory services exclusively to Housing Associations in the UK.
Overark offers an extensive range of risk financing, risk management and insurance solutions designed specifically for the Social Housing sector. By combining these with improved data management techniques plus access to the multiple financial and non-financial benefits of a captive insurance structure, Housing Associations can achieve greater risk control and enhanced risk governance, as well as guaranteed insurance costs that accurately reflect their risk profile.
Overark’s risk-led approach also enables associations to gain a full understanding of their Total Cost of Risk, from premium spend and incident management and loss control costs, through to the financial impact of any major losses and any resulting reputational damage. By conducting a thorough cost/benefit analysis of overall risk expenditure, organisations can enhance efficiency and productivity to ultimately improve Value for Money at all stages of the process.
The company, is led by Peter Berring. Peter has more than 40 years of insurance and risk experience, having been Director of Risk at multi-national corporation De La Rue and Chair of AIRMIC, the UK association for risk and insurance management professionals. Peter also held a number of senior underwriting roles specialising in alternative risk financing.
The Overark team also includes Malcolm Wilson, former deputy chief executive and commercial director of RCT Homes; Huw Thomas, former chief executive of specialist insurance broker Acumus who has advised Housing Associations in the UK on all aspects of insurance and risk management for more than 20 years; and David Voller, an accomplished claims professional with extensive self-insurance, claims and project management experience.
Berring said: “At Overark, we are providing Housing Associations with a new approach to risk which is much more focused on managing and optimising their Total Cost of Risk, and enhancing overall risk control. By offering solutions specifically geared to the needs of associations, including access to a self-insurance facility, our aim is to enable them to reap and retain the financial benefits of risk management.”
Wilson added: “Housing Associations operate in a very diverse risk environment which requires the full range of risk and insurance techniques to manage effectively, but which must be achieved against the backdrop of reducing rents and other budgetary pressures. At Overark, our aim is to help associations achieve the optimum return on investment from their risk expenditure by introducing smarter risk financing techniques which are designed to deliver Value for Money at all stages.”