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Introducing a new non-standard referral service from Assurant Intermediary

Following a successful trial period over several months, Assurant Intermediary is pleased to announce the formal launch of an exceptional new referral service for non-standard property insurance risks where we can now place cover and target certain risks which the standard insurers on our panel are unable to cover.

Whilst you can still look to write risks that refer through our adviser quoting platform, Quoforma+, this new proposition is really targeting those risks that standard insurers will not cover (i.e. straight declines on Quoforma+ system).

Typical risk types we can help you with via this service include:

  • Flood risk area or properties that have previously flooded (we can cede to Flood Re)
  • 6+ bedrooms
  • Building SI exceeding £5million and Contents SI over £200k (we can write Unlimited Buildings or Contents cover)
  • Blocks of flats (including those over 10 flats)
  • Portfolios
  • HMOs
  • Previous claims – either due to high value or volume (or both)
  • Previous convictions
  • Financial difficulties (CCJs, bankruptcy etc)
  • Previous insurance policies cancelled or no previous insurance
  • Subsidence
  • Building works/renovations - works over £100k or over 6 months in duration
  • Unoccupied residential and landlord properties
  • Non-standard construction types – i.e Asbestos roofs, green roofs, etc
  • Mid Net Worth /High Net Worth – minimum contents SI needed of £150k and large volumes of valuables required (circa £50k plus)
  • Commercial risks – e.g. a flat above a hairdresser where the entire building needs cover

Dependent on the risk type, we expect the minimum average premium we will write via this service to be about £650 (this will be higher for the Mid Net Worth / High Net cases with the average premium likely to be around £2000).

In return for this referral, we will share 50%* of the total commission generated on these policies with the referring introducer (this is likely to be around 10% of the premium on average).

You can refer these risks on to us via the existing referral form on Quoforma+ (see image below for reference) or send via email to internalsales@assurant.com.

 

Complete the requested details and we will contact the customer, assess the risk, quote and sell the policy. We will keep you updated on the progress of the case but if you need any updates on the progress, you can contact your BDM or Account Manager.

We look forward to working with you on this new addition to the Assurant Intermediary proposition.

Addendum:

Please note this is not targeting ‘standard’ risks, we are not looking for those types of referrals.

Whilst our ‘non-standard’ panel of insurers may cover some standard risks, they will undoubtedly be a lot more expensive than quotes you can get through Quoforma+ (whether you write the business or refer it into our standard Gold Service referral route) or through other GI providers.

 

* Commission levels can differ depending on the product sold. Commission levels at new business and renewal may be subject to change as part of our internal reviews and ongoing regulatory responsibility under the General Insurance Pricing Policy.