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Less bull, more focus

Further development and expansion at Taurus Insurance Brokers sees the company offer a new way of working between broker and customer in the foundry sector for bespoke solutions to ongoing insurance needs.

Bullish traits of strength and tenacity, determination and ambition are vital to succeed in business, however when matched with understanding, quiet confidence and industry-specific expertise a company’s growth rate can be impressive. Following a successful launch of his company Luke Sharkey-Smith has embraced the needs of the cast metals and associated sectors and Taurus Insurance Brokers (formerly Taurus Industries) is fast developing a reputation as a valued partner for many businesses. Having honed his craft in the commercial insurance sector, Sharkey-Smith established Taurus Insurance Brokers to answer industry’s very specific needs – something he is all too familiar with. “Whilst working at my grandfather’s metal merchant company Jack Sharkey & Company Ltd, I realised that UK foundries and metal finishers needed specific support which wasn’t necessarily available to them.”

With professional insurance expertise coupled with industry experience, Sharkey-Smith is ideally placed to understand the requirements of both contingents. He is particularly keen to tackle what he describes as “over the odds insurance premiums and restrictive cover”. Having experience in the metals sector means he and the team at Taurus can offer a more comprehensive view, thus better serving the industry’s needs. Therefore, armed with a raft of contacts at Lloyd’s of London and various top rated insurers, he established Taurus as a metallurgical insurance service company to provide a well-rounded service for foundries and metallurgical companies in the UK. Sharkey-Smith has since expanded the company’s portfolio and breadth of coverage thanks to new partnership arrangements, which enable a more personable service with corporate backing. “This means customers from a wide range of specialist markets can access our services and the strength of our team means we can meet their very exacting needs with full understanding and responsiveness,” he says. With added expertise, Taurus is also now able to offer very complex claims advice should the need arise.

A change of trading name – to Taurus Insurance Brokers – to better suit the nature of the business, and additional team members to further expand the experience, are just some of the latest developments at the company. Having established the company in the metals sector and with increased depth of resources, Taurus Insurance Brokers is offering an alternative to traditional insurance companies operating in the sector. Sharkey-Smith explains: “We are small enough to have a personal stake and interest in the industry and our clients’ companies but we have the scope and backing to offer what the larger companies are offering. We have found that the foundry sector feels more comfortable engaging with like-minded individuals on these matters. It makes absolute sense to discuss such an important topic with people who have worked in the sector and who understand the pressures and responsibilities of those operating in this unique and exciting industry.” Sharkey-Smith is particularly keen on professional development and building upon his own expertise and that of the wider company. In so doing he has joined ICME to keep up to speed with what’s happening in the industry and to continue to network with colleagues and customers. “I am proud to be a part of the foundry industry and to support the sector to ensure that everyone benefits from robust and appropriate cover to enable the industry to flourish,” he told Foundry Trade Journal. “It is important to me to support the industry and be involved in activities at all levels. I am invested in this industry and Taurus is delighted to get more involved with various supporting bodies.”

Part of this commitment has seen Taurus join the Foundry Equipment and Supplies Association (FESA) and British Insurance Brokers Association (BIBA), which both offer networking and shared support and advice. In addition, Taurus has recently entered into a partnership with the Aluminium Federation (ALFED), which entails an exclusive arrangement concerning recommendation of insurance services to ALFED members and sponsorship of events. Of course navigating the territory of the world of insurance is a complex and often fearsome one and it is important that companies are fully supported in their quest to protect themselves, their employees, visitors and stakeholders. To this end Taurus is also working with Foundry Trade Journal to expand readers’ knowledge on matters of particular relevance to our sector. Sharkey-Smith told Foundry Trade Journal: “We understand there are many variables for companies to consider. We are keen to offer much more than comprehensive insurance cover, we offer metallurgical and plant advice. Material and chemical application, procurement advice (raw materials, machinery etc.) and how to effectively manage a plant and employees are just a few of the subjects our experts can assist clients with.

“We are expanding our team to further strengthen our in-house capabilities, expanding our reach thanks in part to our involvement in partner organisations and industry bodies and we are eager to grow the business in line with our customers’ needs. It is a very exciting time for Taurus.” The strength and tenacity of the bull charging through life makes it a force to be reckoned with, in the case of Taurus Insurance Brokers the charge should not be feared rather encouraged for our own peace of mind.

For more information contact: Luke Sharkey-Smith, Taurus Insurance Brokers, Tel: 0121 5170436, email: [email protected]