With a focus on small business owners and sole traders, Gresham Underwriting is launching a new product to market with A-rated capacity.
The Professional Select offering was originally brought before a select panel of brokers in 2019 before launching to the wider broker base. The product, which has over 300 acceptable trades, is the first from the MGA to include a flexible commission slider so that brokers can choose how much commission they charge per policy giving them a potential competitive advantage as required.
According to chief underwriting officer Rob Munden, the offering, which also includes an optional legal expenses extension from £40, is an invaluable extension for brokers’ clients.
“One small incident could be monumental for these businesses meaning it is vital that they have access to the right protection,” he said.
“We have spent a lot of time developing this product, and no-one could have predicted a year ago that when we launched it would be in this scenario. It might seem like a strange time to launch a new product but in fact this product is available at the right time. We’ve launched it at a time when brokers need to offer their clients something more than a simple renewal. It’s a time when businesses across the country are innovating and diversifying in order to not only survive but thrive. Not only are we providing brokers with another option to support their clients, but we are also advising them on how their clients’ requirements may have changed. In a time like this, communication, guidance and quality products to protect businesses are crucial in our industry.”
The firm also outlined that several more products are planned for 2020.
