Press Coverage
The process of managing a scheme
April 2012 edition Insurance Age
If a broker is to manage a scheme successfully, it is important that they understand and stick to the parameters that the insurer has set in return for delegating authority.
So says Lord Sheikh, of Macmillan Sheikh, a man who has plenty of experience in the world of schemes.
"A broker needs to establish what they can write, what type of risks and rate are to be applied, how to deal with a claim, who is to be notified in that event, how to deal with proposal forms and documentation and get clarity over the submission of bordereaux" he advises.
Then there should be a lot of focus, once the scheme is up and running, on ensuring that the insurer receives all the necessary information - how much business has been written, details of the risks and the payment of accounts.
This may appear to be pretty straightforward stuff but Lord Sheikh insists that it is attention to these details that can make the difference between a long or short-term relationship with an insurer.
But ultimately, he says, it is "very important thet the broker acts responsibly because, if they don't, they will lose the scheme".
View the original article here
Insurance People
New schemes from Macmillan Sheikh
June 2011
Macmillan Sheikh has launched two new schemes. Aimed at the cleaning industry and tour operators respectively, these are new areas for Macmillan Sheikh, although not so to this management team, with longstanding experience and relationships with both industries. The schemes are designed to provide higher limits than the market standard, with generous levels of commission. The tour operator scheme comes on a bespoke basis, tailored to meet the needs of individual clients.
Dinner in the Cholmondeley Room and the Terrace of House of Lords
20 April 2011
Lord Sheikh Chairman, Directors and Staff of Macmillan Sheikh Plc. held a dinner in the Cholmondeley Room and the Terrace at the House of Lords on the evening of Monday 11th April. The rooms were filled to capacity and the guests included; Insurers, Insurance Brokers, Loss Adjusters, Principals of Companies Supplying Services to the Insurance Industry, Heads of Trade Associations, Journalists from the Insurance Press, Heads and Major Donors of Charities.
The MC was Omar Faruk, Barrister and Lord Sheikh's Chief of Staff, and the other speaker was Nigel Dyer who is Principal of a consultancy company providing support to the Insurance Industry.
Omar Faruk and Nigel Dyer talked about Lord Sheikh's achievements in Insurance, his Parliamentary career, contributions to Charities and Lord Sheikh's vision in the formation of Macmillan Sheikh Plc.
On the night Lord Sheikh also made a donation to Mr A.P.P. Chawla, Chairman of the ROKO Cancer Charity.
In his speech, Lord Sheikh spoke about the role of the House of Lords, told humorous stories from his personal experience which amused the guests, and also talked about the role of charities. The evening was enjoyed by the attendees, and Macmillan Sheikh has received complimentary comments from numerous guests.
Insurance Times
Lord Sheikh returns with new broker Macmillan Sheikh
21 Feb 2011
Lord Sheikh has launched a new Westminster-based insurance broker and underwriting agent, Macmillan Sheikh.
The former Lloyd's broker founder and Conservative Peer's new company also has an independent financial advisor offering a range of commercial and financial insurances.
It will operate on both a retail and wholesale basis.
Lord Sheikh has become chairman and has appointed a team of directors and senior management.
Lord Sheikh said: "I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets.
"Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products.
"With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market."
Lord Sheikh was once chief executive and chairman of Lloyd's insurance broker and IFA Camberford Law. The company was sold in a mangement buy-out in 2008.
Latterly he became the Conservative Party's first Muslim peer and plays an active role in the House of Lords.
Macmillan Sheikh is set to unveil a range of specialist schemes in the coming months, the company said in a statment.
Post Online
Lord Sheikh confirms broker launch
21 Feb 2011
The company, which Post revealed was set to be launched last September, also has an independent financial adviser arm and will offer commercial and financial insurances on both a retail and wholesale basis.
The Conservative peer, takes the role of chairman and the team of directors and managers is now complete.
He was previously chief executive and chairman of Lloyd's insurance broker and IFA Camberford Law.
Lord Sheikh commented: "I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets.
Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products. With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market."
CIR Magazine
Lord Sheikh launches new insurance venture
Most read story on CIR Magazine
21 Feb 20011
Industry veteran and Conservative Peer Lord Sheikh has today announced the launch of insurance broker and underwriting agent, Macmillan Sheikh.
The company, which also has an independent financial advisor arm will offer a broad range of commercial and financial insurances, available on both a retail and wholesale basis. Lord Sheikh takes the role of chairman.
Macmillan Sheikh is based in Westminster and expects to announce the launch of a range of specialist schemes in the coming months.
Lord Sheikh commented: "I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets. Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products. With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market."
Lord Sheikh made his name as chief executive and chairman of Lloyd's insurance broker and IFA Camberford Law. Under his leadership the firm developed a number of highly successful schemes, provided facilities for 1,800 brokers and won numerous accolades and awards for service and innovation. Latterly he became the Conservative Party's first Muslim peer and plays an active role in the House of Lords.
Professional Security Magazine
Lord Sheikh's insurance launch
21 Feb 2011
The company, which also has an independent financial advisor arm will offer a range of commercial and financial insurances, available on a retail and wholesale basis. Lord Sheikh takes the role of chairman and the team of directors and managers is now complete.
Macmillan Sheikh is based in Westminster and expects to announce the launch of a range of specialist schemes in the coming months. Its launch follows months of development and investment in its IT.
Lord Sheikh became known after forging a career as chief executive and chairman of Lloyd's insurance broker and IFA Camberford Law, offering specialist private security industry insurance. Under his leadership the firm developed a number of schemes, provided facilities for 1,800 brokers and won numerous awards for service and innovation. Latterly he became the Conservative Party's first Muslim peer and plays an active role in the House of Lords.
Lord Sheikh said: "I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets. Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products. With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market."
Insurance Day
Lord Sheikh returns to insurance industry
21 Feb 2011
The former chairman and chief executive of Lloyd's broker Camberford Law has returned to the insurance industry with the launch of Macmillan Sheikh.
Lord Mohamed Iltaf Sheikh takes up the position of chairman at the new venture which is both a broker and underwriting agent offering a variety of commercial and financial coverages on both a retail and wholesale basis. The new company also has an independent financial advisor (IFA) arm.
Sheikh said: "I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets. Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products.
"With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market."
The new company is based in Westminster, and it expects to announce a range of specialist schemes in the coming months. At present the company specialises in insurance schemes for the security and cleaning industries.
The former Royal Sun Alliance, Household and General Insurance and Guardian Royal Exchange man came to prominence in the Lloyd's market after he joined broker and IFA Camberford Law in 1978. He then took over the company, eventually leaving in 2008 following a management buyout. He was named the Conservative Party's first Muslim peer and currently plays an active role in the House of Lords. He became a life peer in 2006.