MGA to launch real estate products for non-standard risks

MGA Ventis has announced the upcoming launch of its non-standard real estate proposition.

The proposition comprises two distinct but complementary products designed for complex risk.

The first provides comprehensive cover for vacant properties, including short-term policy periods and cover for long-term vacant buildings up to 10 years.

Meanwhile, the second product offers coverage across a broad range of non-standard property types, including timber-framed buildings, social housing, student accommodation, holiday lets and houses in multiple occupation (HMOs).

Cover includes property damage, malicious damage by tenants, loss of rent, landlords’ contents up to £10,000 and day one uplift of up to 35%, alongside options for a range of residential and commercial occupancies.

Broker demand

The products will be actively underwritten by the Ventis underwriting team and be available to the MGA’s broker partners.

Coverage is available for risks with a total sum insured of up to £15m.

Gareth Roberts, chief executive at Ventis, said: “At Ventis we are committed to building strong broker relationships through responsiveness service and underwriting expertise.

”This new proposition has been developed directly in response to broker demand for solutions in more complex and non-standard areas of the market. By combining our core appetite with enhanced capability for complex risks, we are giving brokers confidence to place business that requires a more active underwriting approach.”