Assurant Intermediary has launched a new landlord product in association with digital insurance provider, Modus Underwriting.
The product is added to the existing Assurant panel of products and aims to address issues that landlords usually find are not included with this kind of cover, including identity fraud cover that can cover up to £25,000 for advisers’ costs and full cover for unoccupied property at outset.
Unoccupied properties at the outset can usually only be insured, if at all, for FLEEA (fire, lightning, earthquake, explosion, aircraft) cover. The Modus product can apply full cover at outset which includes storm/flood, theft or attempted theft and malicious damage.
Scott Banks, managing director at Modus, said: “The landlord market is a key area of growth for us and we believe that we have a quality product to offer Assurant advisers, introducers and their customers.
“Joining the Assurant panel represents a significant development in our strategy, and we’re pleased to have established a strong working relationship with the Assurant team.”
Richard Miles, head of Assurant Intermediary, added: “We are delighted to have found a partner in Modus to grow our panel of landlord insurers. Their product has the features we know advisers are looking for which meets the needs of today’s landlord.
“With full cover at the outset for unoccupied properties as an option, it provides advisers with a much-needed benefit to offer to their landlord clients. We recognise that storm damage or malicious damage are far more likely events to happen to properties than an extreme weather event.
“I know our introducers are going to be pleased with the outcome and we look forward to developing our relationship with Modus in the years to come.”