The SME area is one of the hottest insurance markets in the UK currently, so it’s no surprise to learn one of the country’s insurance heavyweights has launched a new product to further address demand.
has today announced the expansion of its SME packages book with a new e-traded business combined product that will be available on both the Acturis platform and RSA
The idea of the package is that it can help brokers tailor cover for business customers across a variety of sectors – whether they are in supply, retail, leisure, administration, wholesaling or manufacturing. It comes with more options so brokers can ensure their customers are fully insured but simultaneously not paying for unnecessary cover.
According to Celia Kemp, SME, schemes and deals underwriting leader at RSA, the product has already received a positive response after a six-month pilot.
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“We are delighted to launch our Business Combined product and to have received such positive early feedback from brokers,” she said. “The product has been designed to meet brokers’ calls for a more intuitive and streamlined e-traded offering. That said, we have not scrimped on important policy detail and in-built flexibility.
“Our product has been specifically designed to be fully compliant with duty of fair presentation rules, introduced last year as part of the Insurance Act, ensuring our question sets and processes deliver the best products and services for our customers.”
The product can trade up to £20 million material damage / business interruption limit per premises with no turnover limit, while additional features include floating stock for contents, computer equipment and stock, terrorism cover, North American exposures and cover for stock at third-party premises.
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