Arc to provide landlord legal expenses and rental guarantee cover
Arc Legal Assistance has been appointed by Quoteline Direct to provide landlord legal expenses and rental guarantee cover.
Quoteline Direct is one of a small number of brokers who have integrated legal costs cover within a standard buildings insurance cover provided to their residential landlord clients. This inclusion aims to give Quoteline Direct market advantage through bolstering their own existing proposition which will support their future growth plans, it said.
Richard Finan, Director of Arc said: “Growing buy-to-let business requires relevant products such as rental guarantee cover together with a responsive service. The market continues to provide real opportunities for brokers who look to offer valuable support alongside these important basics.”
Phil Stevens, Home Department Manager, Quoteline Direct, said: “We have targeted substantial growth in our landlord account. To do this, adding value is paramount. Arc’s direct experience in this market and their proven ability to provide products that meet landlord’s needs will be an important element of this growth strategy.”
Arc has developed a significant book of residential and commercial landlord business since it launched its first product in 2003. The company’s residential and commercial landlord business will represent close to 20% of its gross premium income this year.
Arc’s specialist product provides legal costs cover for tenancy disputes; defence of prosecutions brought against landlords; property infringement cover and rental guarantee for tenant defaults. The company now provides cover to brokers, tenant referencing and mortgage provider clients including Broker Network, Keysafe and Paragon. Arc continues to design and implement new bespoke insurance solutions in the sector. Recently Arc was appointed by Hamilton Fraser Insurance to provide indemnity for landlords in deposit disputes with tenants, under the Government’s mandatory Tenancy Deposit Protection scheme.
