11 June 2018 – Leading commercial property MGA, European Property Underwriting Limited (EPUL) has launched a flexible UK and Northern Ireland terrorism solution offering cost-effective cover as an alternative to Pool Re.
EPUL’s stand-alone terrorism policy provides material damage and business interruption coverage for business and property investors’ risks. Insureds can select which properties they wish to cover. Policy loss limits are also available in return for a rating discount. Cover includes day-one inflation provisions and alternative residential accommodation free of charge. EPUL is offering a minimum premium of £25 compared to £100 under Pool Re.
EPUL brokers can use the MGA’s online quote and bind facility and have access to a “Quick Quote” service that enables them to obtain an indicative pricing using just a postcode and sums insured.
Andrew Whittaker, Managing Director of EPUL, said: “Facing an evolving and ever-present terrorism threat, it is perhaps the smaller businesses and property portfolios that potentially have most to lose in a terror attack. In recognising the need for the terrorism insurance market to respond to the requirements of these clients, we have employed the expertise and capabilities available within the Lloyd’s market to develop a responsive and cost-effective material damage and business interruption solution.”
The launch of the terrorism cover follows EPUL being granted Lloyd’s Coverholder status. Andrew Whittaker said: “This is an important development and enables EPUL to continue expanding the range of products we can offer beyond what is generally available in the composite property investors’ insurance market.”
EPUL includes this flexible terrorism solution for property investors in the UK within its “Omnibus” combined product and can also provide terrorism cover across Europe on a stand-alone basis.
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Notes to editors:
European Property Underwriting Limited (EPUL) is a leading, London-based, commercial property underwriter that provides specialist insurance and advice, via brokers, for mid to large property owners, asset managers and pension funds, in the UK and across Europe.
Since August 2015 EPUL has been supported by leading insurer HDI Global, with support from Swiss Re and Liberty Specialty Markets, to provide ‘exclusive capacity’ and risk management expertise for the commercial property sector.
This game-changing arrangement brings great opportunities for brokers and clients, as it combines first class security, increased capacity and specialist expertise, to cover large-scale commercial risks.
EPUL is part of the Global Risk Partners Limited (GRP) group.
European Property Underwriting Limited is authorised and regulated by the Financial Conduct Authority.
For additional information, please visit www.epul.co.uk
Global Risk Partners Limited is an investment vehicle aimed at brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets.
It was established in 2013 by Peter Cullum, Chairman and David Margrett, Chief Executive and is backed by private equity firm Penta Capital LLP.
Global Risk Partners acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability.by