With many companies looking to join in on World Cup fever, we spoke to a client looking for insurance advice on refunding customers if England won the World Cup. The biggest football tournament in the world, which kicks off on June 14 in Russia, often attracts offers or deals in relation to the home nations. Most famously Currys PC World once offered to pay £10 for each goal scored by England, Ireland, Northern Ireland or Wales in open-play following a purchase of a TV over a specific price.
We regularly see companies post on Linkedin asking for a recommendation’s about using a broker but there was one recently that caught my attention when it mentioned “unique” insurance. The client sells automotive parts and between now and the start of the World Cup, the estimated sales will be £500,000. He wanted to investigate in some insurance cover because he was looking to refund his customers if England won the World Cup. The refund would apply to customers who purchased a product from the company during the tournament.
Due to our in-depth knowledge of insurance, we were able to get an indicative costing within a few hours. Unfortunately, due to the nature of the insurance and potential payout, the premium was significant and the company decided not to go ahead on this occasion.
With England’s first game of the tournament just days away now, we would like to take this opportunity wish them the best of luck in Russia. Come on England!