Cranes and Lifting November 2019

Page 40

IN FOCUS / UAA

HOW HARD IS YOUR INSURANCE WORKING FOR YOU? Insurance, like most other aspects of the crane industry, is based on traditional business values. It makes a difference when you have a proactive and experienced insurance broker working on your behalf with the right insurance underwriter. AS A CRANE OWNER, YOU WILL understand the need for various levels of cover, but do you have an insurance broker that’s focussed on responsiveness and treats every claim as if it were their own? And does your underwriter really understand the nuances of the crane industry, offering you right the levels of cover in the right areas? Cranes and Lifting spoke to Sam Sofi, managing director, Trans-West Insurance Brokers and George Grasso chief services officer, UAA, to discuss these and other issues relating to the insurance of cranes.

Trans West Insurance Brokers was founded in 1975 by Sam Sofi who remains the Managing Director and sole shareholder. Sofi was raised in a family of farmers and primary producers and grew up amongst machinery and learning how to fix it on your own. He knows insurance; he started calling door to door with the AMP selling life insurance, but his upbringing was to shape his approach to the insurance industry. “If the machinery failed, there was none of this we’ll call the mechanic up the road, you had to fix it yourself. As a young

Sam Sofi, MD of Trans-West and avid reader of Cranes and Lifting, with George Grasso, chief services officer, UAA.

40 / CAL November 2019

boy, I learnt to weld, you learn everything you need to do to get the job done and if my father promised a neighbour that his tractor would be fixed and on the paddock at 6am the next morning that tractor was on the paddock. What happened in the background to make this happen might have been another story? To a large extent, my father’s integrity and honour has flowed throughout our family, if we promise something you do your very best to deliver,” said Sofi. This approach has help set Sofi and Trans West apart from other insurance brokers. “We have found a lot of the issues relate to brokers over promising and under delivering and that can be a real issue. It’s relatively easy for me in the ‘crane world’ because I understand the machinery, I understand that when you have a million dollar plus piece of gear driving out of your yard you are hoping it comes back later that day intact. I also understand what the impact of a claim does to a business. The larger the business the less impact it has, but when you are a small operation with four or five units, one unit can be more that 20 per cent of your business. A specific crane can be generating 40 per cent of your income with the other pieces of gear are playing a supporting role. You have to make sure that crane has the right level of cover,” he said. Sofi speaks about his relationship with UAA. “There are a lot of the positives about UAA. They have an experienced and pro-active team that understands cranes. But like all relationships there are ups www.cranesandlifting.com.au


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