We are delighted to announce that as part of our risk management programme, we have made a number of changes to safeguard the longevity of the Commercial Express product range.
Three schemes will be moving from Channel Syndicate 2015 at Lloyd’s to Lloyd’s Axis effective 1st October 2019. Those schemes are Residential Property Owners, Landlords Contents and Tenants Contents. We can confirm there is no change in premium rating or underwriting strategy. The new policy wording and summary of cover will be made available from early September via the Commercial Express website.
Duncan Pritchard, Managing Director, said “It is essential we take responsibility for our own loss ratio and make rating and capacity decisions that ensure the long term success of our schemes. We have on this occasion elected to move a number of schemes to another provider simply to obtain greater underwriting authority and flexibility, there are no premium savings instead we will be able to offer a better customer experience to our brokers.”
Two further products that are subject to change are the Touring Caravan scheme and the Industrial Property Owners (IPO) facility. Both schemes will see rating increases with the exception of unoccupied properties through the IPO scheme. Channel are very keen to write vacant properties and the recent rate reductions have been maintained.
If you wish to view the policy documents directly or the change documents please click the buttons below.
If you require any further details on the above please call us on 0800 978 8007.