Arkel Underwriting has announced that its Premier Let landlord product is now live on Applied Systems, a software provider to hundreds of broker agencies.
This rollout follows the recent addition of Arkel’s non-standard product, Adapt Home, both of which are underwritten by Amtrust.
The Premier Let product is aimed at meeting the unique insurance needs of landlords. It offers features such as building sum insured up to £1m, contents sum insured up to £50,000, and malicious damage and theft by tenant up to £5,000. Other benefits include accidental damage for certain types of tenants and alternative accommodation coverage up to 20% of the building sum insured.
Ant Sherlock, head of distribution at Arkel, said: “We are launching our second product in quick succession with Applied Systems. Adapt Home went live across the Applied network in June 2023, covering non-standard risks for all types of properties such as unoccupied, holiday home, and business use from home.”
Sherlock added: “Backed by Amtrust, Premier Let is our latest product with Applied Systems and tailored to the specific needs of landlords, helping them protect their assets and income with landlord-specific product features and cover limits. We have an experienced team of underwriters which has recently expanded, adding additional skills and expertise within our growing business. The team works closely with our broker partners to ensure we provide the best ongoing technical support across our products.”
Adapt Home allows brokers to cover a range of non-standard property risks, including extended unoccupancy, financial history issues, and homes with a flood or subsidence history, among others. The non-standard household insurance market is estimated to be worth over £1.5bn in gross written premium (GWP) and accounts for over 9 million properties, making up 30% of the market.
The new offerings are expected to expand Arkel’s reach in the increasingly important non-standard insurance market while providing brokers with more flexible options to meet client needs.
Arkel Underwriting is a subsidiary of Atec Group, which includes several brands such as Ceta Insurance and multiple retail brands like InsureMy.
