IMPORTANT INFORMATION REGARDING THE ASSURANT ADDITIONS HOUSEHOLD PRODUCTS
UK General are withdrawing from the standard household insurance market. This means that they will no longer support the Assurant Additions (bedroom rated and sum insured) household products or any partners that offer standard household products.
This change will affect new business and renewing policies.
Please note that this does not affect the UK General Landlord product or Home Emergency products.
New Quotes:
The ability to produce new business quotes for the Additions household products via the Quoforma+ system will be removed on 4th August 2023.
Saved Quotes:
Any UK General Additions prospect quotes that have been quoted and saved within the last 30 days and remain within the quote validity period can be submitted to start before, up to and including 4th September 2023. These can be processed and submitted in the normal way but please contact us if you have difficlties when submitting a policy to start before 4th September 2023.
Important Notice:
UK General will not accept and we cannot process any new business which starts after the 4th September 2023. Even if the quote is valid, no business will be accepted with a start date from the 5th September onwards.
Existing policies:
Any existing ‘live’ policies will naturally remain on cover until expiry and will be honoured and any relating claims will be managed by UK General until resolved.
Upcoming renewals:
We are pleased to announce that we have agreed a partnership with Integra to provide underwriting capacity for the Additions product.
This means that where the risk meet Integra's acceptance criteria, they will off renewal terms on the policy. The switch to the new insurance capacity will commence for policies that are due to renew in September 2023.
If the policyholder is happy to proceed with the Additions renewal, no action is needed by them or you as the adviser and cover will renew. The existing cover levels and product terms and conditions will remain in place.
NB: Integra may not offer cover for all policies and should that be the case, alternative quotes will be run through the Quoforma+ system with existing risk information and an alternative insurer and product will be offered at renewal.
If the policyholder wants to accept the alternative insurer and product, then they will need to contact us to proceed with the alternative quote and product. Alternatively, you as the adviser can contact us to proceed with the alternative quote on their behalf.
If the alternative quote is not accepted and Assurant is not notified, then this may leave the customer without cover.
If an alternative insurer and product cannot be found, then the policyholder will be informed of this and you can also see this via the Renewal Information on your Dashboard when you login to the system.
We would suggest that you take this as an opportunity to contact your customers to review the information is still correct and that the policy information reflects the cover they need.
Assurant Intermediary will continue to offer the service and support you have come to expect
If you have any questions or queries, please contact your Business Development Manager or Account Manager who will be happy to assist with any assistance you need.
Thank you for your support.
Richard Miles
Director, Assurant Intermediary