Lloyd's managing agency PXRE is ready to tackle the company market head-on with its newly formed service company PXRE Insurance Services.
The secret weapon is a commercial product that offers clients a package of property and liability cover. Incapsulate is aimed at small to medium-sized companies and provides a wider than average range of cover, and promises brokers higher commission than the standard 17 to 20%. Broker commission on Incapsulate ranges from 20% on premiums of less than £2,500 to 25% on premiums of more than £5,000.
Its list of cover goes from business interruption, employer's, public and professional indemnity, errors and omissions to goods in transit. And there is a 24-hour advice line, an office hours legal help line and a rehabilitation facility for injured people.
Underwriting will be Matt Gifford and David Armes for Lloyd's syndicate PG Butler1224.
Armes said: "The move reflects the market's trend towards packaged policies and that brokers have increasingly been demanding different distribution channels. We are also providing higher than normal levels of capacity for a Lloyd's service company and will be able to quote immediately on risks without having to defer to head office."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
