Alpha Underwriting and a Malta-based company are partnering to offer caravan insurance to UK brokers and direct to consumers.
Alpha and Building Block PCC will initially distribute the product through broker panels and networks, according to a report in Insurance Age. The partnership comes after an announcement earlier this year that Alpha and Building Block had partnered to distribute a pet insurance product.
“The product will give UK and temporary overseas cover, with maximum liability limes of £
2m,” Mark Allen, Alpha managing director, told Insurance Age.
Building Block will provide capacity to underwrite the caravan insurance product, according to Paul Brierley, the EU company’s chief executive officer.
“We intend to deliver a disciplined and structured book of business,” Brierley said. “Policies will initially be sold to brokers, as well as accommodating scheme business for brokers who want to transfer existing books, or have plans to launch a caravan schemes product.”
The UK caravan industry generates £250m in gross written premium annually, Insurance Age reported.
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