New capacity provider effective from 1 January
Commercial lines underwriting specialist Arista Insurance has finalised its agreement with Canopius that will see the latter provide Arista’s motor capacity.
In July last year, Canopius bought fellow Lloyd’s insurer Equity Insurance Group’s 25% shareholding in Arista and agreed to become its motor capacity provider.
The move was completed on 1 January this year, meaning that Arista’s motor underwriting is now backed with capacity from Canopius.
With the change of capacity, Arista’s motor policies now feature an online cover note service allowing brokers to instantly produce cover notes for customers. Arista’s clients will also benefit from the motor claims service built by Canopius.
Arista chief executive Charles Earle said: “We are pleased that the move to Canopius paper is now complete. This has been a seamless transition and the change will only improve the service we provide for brokers and policyholders. Canopius is a long-standing supporter of Arista and including motor capacity is a positive extension of our relationship.”