Rise in “staycations” sparks new product development for iprism

iprism, the specialist commercial, property and high net worth MGA has launched a new standalone Holiday Home product for private individuals as it continues to expand its range of specialist personal lines products.

Previously only available as an extension to cover on the insured’s main residence, the new Holiday Home product responds to increased broker demand for a bespoke policy to meet the needs of individuals with a second UK-based home or static caravan both for personal or commercial use.

The new product includes accidental damage, Third Party liability up to a limit of £5m, as well as cover for emergency travel for the insured to visit a damaged property.

Speaking about the new launch, iprism’s Managing Director Ian Lloyd said:

“Following a Summer of UK “staycations” and a number of conversations with our brokers, we have identified a growing demand for a stand-alone Holiday Home product to protect and provide peace of mind to UK holiday homeowners

As a service-led business, we’re committed to offering our brokers new solutions to meet their needs and those of their client.”

ENDS