A Lloyd's service company has been set up which intends to provide brokers with unprecedented access to a range of products by working with a number of syndicates.
Traditionally service companies have worked with only one syndicate, offering that syndicate's speciality lines exclusively.
Newline Underwriting however, intends to offer a range of products underwritten on behalf of its syndicate DJ Newman 1218, and other carriers.
DJ Newman's specialist products include professional indemnity and directors' and officers' insurance. Newline will be bringing it products such as employers' liability and public liability.
It is already working with other carriers outside DJ Newman to sell products including contractors' all risks and property insurance.
New Line is owned by Odyssey America Re, part of the Fairfax Financial Holding company.
Dick Micklem, managing director of New Line Underwriting Management, formerly know as TIG Syndicate Management, said: "This move provides us will a unique opportunity to offer a complete range of products. The market is moving towards packaged polices and we want to make the most of it."
Over the past five years a host of service companies have been set up at Lloyd's in order to open up distribution channels to brokers.
David Lister, managing director of Newline Underwriting, said: "The reason for this growth is because syndicates don't want to get involved in the administrative side and that's where we come in. They want to sit and discuss risks rather than chase accounts."
New Line has a call centre facility for brokers and is able to quote over the phone.
