Facility includes sum insured limits of up to £5m
Commercial insurance underwriting agency APC has unveiled the first of its planned new products for 2008 with the launch of a commercial property owners scheme on on-line trading platform, QuoteMac.
The product is designed for single properties and portfolios and includes an extensive range of cover as standard with a wide variety of optional extensions available such as landlords contents, accidental damage, legal expenses and terrorism. It will also accommodate risks with a sum insured in any one location of up to £5,000,000.
The product covers over 200 trades including religious and unoccupied properties and has 20% loss of rent as standard with an option to increase to 30%. Brokers using QuoteMac for commercial property have access to streamlined statement of fact proposal forms with reduced referrals and instant underwriting decisions.
APC’s underwriting director Ian Russell, said: “We launched our Residential Let product in December and so the introduction of our commercial product means that we can now help brokers with all of their let property business which is a significant market for them. We are delighted with the result and are confident that our brokers will find it a very easy sell thanks to its competitive rates and comprehensive cover.
“Our brokers tell us this works for them and so that’s good enough for us.”
