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."