Peter Knowles, former market director at the CII set up LetSense

LetSense, a new company aimed at the lettings risks market has been launched today.

Peter Knowles, former market director for general insurance at the Chartered Insurance Institute (CII), has teamed up with property insurance specialists Brian Turney, Alan Holton and Rob Jones to set up the residential lettings insurance and tenant referencing provider.

Knowles, chief executive at LetSense, said: “This is a very exciting time for the lettings market. The industry is booming, particularly in the wake of the downturn in property sales, and there is a gap in the market for superior lettings insurance products and services.”

The firm has been backed by MMA Insurance plc, part of the Covea Group.

LetSense will initially offer tenant referencing and rent and legal protection insurance services for letting agents, with a range of other related products for agents, landlords and tenants set to be unveiled in the coming months.