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iprism aims to address rise in staycations

iprism aims to address rise in staycations | Insurance Business UK

iprism aims to address rise in staycations

If there has been one plus to be garnered from the coronavirus pandemic, it has been that many of us have started to appreciate just how beautiful our own country is – and, as a result, an increasing number have adopted “staycations” this year.

With many countries remaining on the UK’s watchlist, this is a trend that is only likely to continue – and now one specialist MGA is attempting to address the issue with a new product.

iprism, which focuses on the commercial, property and high net worth segments, has launched Holiday Home for private individuals.

The product, which was previously only available as an extension to cover for an insured’s main residence, is a response to broker demand for a bespoke policy for those with a second UK-based home or static caravan that they use both personally and commercially. It incorporates a third-party liability limit of £5 million, covers emergency travel and accidental damage.

“Following a summer of UK ‘staycations’ and a number of conversations with our brokers, we have identified a growing demand for a stand-alone Holiday Home product to protect and provide peace of mind to UK holiday homeowners,” said iprism managing director Ian Lloyd.

“As a service-led business, we’re committed to offering our brokers new solutions to meet their needs and those of their client.”