Covéa Insurance has announced the launch of a new product for both residential and commercial property owners, to be sold online through brokers.
Called “Property Owners”, the product incorporates aspects of Covéa’s residential property owners, commercial property owners and packaged executive asset products, but under a single, all-risks policy wording. This product has a wider risk appetite, broader cover, and higher limits, as a result. Notably, it covers landlords with properties at up to 10 locations, and some of the standard covers included are property owner’s liability, equipment breakdown and loss of rent (residential contracts) and buildings.
“Property Owners” is the latest in Covéa’s offerings geared toward small business owners. The company had launched its packaged retail and salons product last August.
A release noted that Property Owners has just launched through both Acturis and the Covéa Insurance Online extranet for brokers, with both platforms allowing brokers to adjust commission and premium levels. The release also said that online trading of the new product will be supported by a guaranteed, 30-minute referral response provided by Covéa’s small business trading team. Post-sale service will be provided to brokers by the company’s Institute of Customer Service accredited underwriting services team.
“We’ve listened to what brokers have told us they and their customers want and designed our product and service to meet their needs,” said Covéa Insurance small business underwriting manager Sid Gulati in a written statement. “We continue to implement changes on and offline that will ensure our brokers can access the most competitive and up to date electronically traded products, supported by skilled trading underwriters who can make fast decisions on referrals to help them trade with us.”
“In an increasingly competitive market, the addition of this new Property Owners product combined with a strong service level will further strengthen our small business proposition, and offer additional growth opportunities for us and our brokers,” Gulati added.
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