Peach to provide capacity for broker’s contractor business offering

Niche commercial insurer Peach has partnered with insurance broker Roots Contractor Insurance (RCI) to provide capacity for its contractor business insurance offering.

Launched in 2020 by parent company the Vestura Group, RCI specialises in cover for professional contractors including professional indemnity (PI), public liability (PL) and employers’ liability (EL) policies.

RCI recently announced that it had linked its online product portal to its contractor compliance portal (CCP), a move aimed at allowing recruiters to check contractors’ IR35 compliance and contractors to receive ‘no-touch’ quotes.

Pete Willcocks, co-founder and director of Vestura Group, said: “Since launching our contractor business insurances five years ago, our original capacity provider changed its appetite and was no longer able to meet our underwriting requirements. So, we started looking for an insurer who would be consistent in its appetite and coverage.

“It might sound corny, but within a day of meeting the Peach team we knew we’d found the right partner for us. I continue to be hugely impressed with their agility, speed of turnaround and attention to detail.”

Niche insurer

Willcocks added that he felt a niche insurer that “understood what it was trying to achieve” and had the “flexibility to support the product as it evolves” was vital to the product’s success.

Ryan Bendelow, director of commercial at Peach, added: “We are delighted to be collaborating with RCI to provide a PI led insurance product aimed specifically at contractors.

“The scheme is tailored for independent, professional and white collar contractors who are set up as limited companies with a maximum turnover of £350,000 and with no more than two employees.

“It has been hugely rewarding to be able to support RCI in its plans to provide the sector with a unique, joined up proposition to help recruiters ensure that contractors and their end clients are fully protected.”