Flood is biggest Non Standard Risk

28/09/2011, 15:00 by Deeangelique Ireland, Marketing Executive

Select & Protect have released figures for its Non Standard Risk policy, Home Integrity, to show why customers are being referred to them for the policy.

The GI provider for intermediaries has revealed that, in the two months since launching, brokers have already referred hundreds of their customers for a quote. The majority (25%) are referred for a Non Standard Risk policy quote after having trouble finding cover for a flood prone property. Other reasons include adverse claims experience (18%), subsidence (18%), convictions (8%) and unoccupied properties (8%). The final 21% of reasons for referral are down to risks such as non-standard construction or letting circumstances and building works.

Bruce Reid, Managing Director, said: “We launched Home Integrity to help intermediaries retain more of their customers. Just because someone has unusual circumstances doesn’t mean they don’t need insurance and deserve a simple route to getting it. We didn’t want our brokers having to send customers elsewhere, potentially in the arms of a competitor who would happily take more than just the customer’s insurance business. So the Non-Standard Risk solution has offered an ideal opportunity to stop that happening.”

The policy is underwritten by well known specialist home insurance provider, Plum Underwriting, and is based on Lloyd’s of London approved wording with a number of enhancements. Brokers can find out more about Select & Protect’s NSR opportunity at www.select-protect.co.uk.