Liability and legal expenses insurer Irwell has grown gross written premium (GWP) by 30% year on year, passing £50 million for the first time.
The Manchester-based insurer credited strong coverholder partnerships and a new product range. Its recent launches include professional indemnity, landlord and personal home emergency cover, and family legal protection.
“This record result is a testament to our talented team, strong client relationships, and the quality and flexibility of our products, achieved without compromising our underwriting discipline,” said Giles Reading, chief executive of Irwell.
Irwell has also opened an office on Blackfriars Road in London, alongside its Manchester headquarters. Reading said the move would bring the business closer to some of its key partners, and help it increase market share and support its growth plans.
Founded in 1994, Irwell has historically provided legal expenses and commercial liability cover to small businesses through the Peninsula group. It has since opened up its products to the wider UK market through MGA and coverholder partners.
Its range covers public, products and property owners’ liability, and commercial, employment and landlord legal expenses. Its liability policies include a health and safety review, and its legal expenses policies include a free legal helpline provided by Irwell Law.
Irwell’s growth comes as new legislation puts more legal pressure on its core customers.
For employers, the Employment Rights Act is changing workers’ rights and how businesses handle disputes. In Marsh’s research on UK retailers this month, half said they expected the act to increase their operating costs, and 43% expected it to add to their administrative and compliance burden. More regulation tends to mean more disputes and tribunal claims, which is where employment legal expenses cover responds.
For landlords, the Renters’ Rights Act is reshaping tenancies in England, including the end of no-fault evictions under Section 21. That makes the legal process for regaining possession more important, increasing the value of landlord legal expenses and rent protection cover.
For brokers, Irwell’s growth reflects rising demand for specialist liability and legal expenses cover, particularly among SMEs and landlords facing employment disputes, tax investigations and tenancy changes. Its new products widen the range available through its partners.
The legislative changes give brokers a timely reason to review clients’ cover. Employers should check whether their legal expenses policies respond to the kinds of disputes the Employment Rights Act may bring. Landlord clients should review whether their cover reflects the new possession process.
The London office should also make Irwell more accessible to London-based MGAs and coverholders, the main route through which brokers reach its products.
