Alps and Guarantor Insure launch Student Guarantee Protection Insurance scheme
The policy provides legal advice and representation for disputes with landlords, agents, other occupants or their guarantors over rent arrears and dilapidations.
Alps and Guarantor Insure have launched a Student Guarantor Protection Insurance scheme to cover people acting as guarantors for students in rented accommodation.
The policy was underwritten by AmTrust Specialty Limited.
It covers risks linked to student tenancies, including joint and several agreements where guarantors could be liable for more than the rent owed by the student they supported.
The policy provides legal advice and representation for disputes with landlords, agents, other occupants or their guarantors over rent arrears and dilapidations.
It also covers qualifying liabilities above the student’s proportionate share, with different levels of cover available.
Policyholders have access to claims, legal and dispute resolution services through Alps.
Michelle O’Reilly, managing director at Alps, said: “This partnership demonstrates what we can offer as an MGA beyond off-the-shelf solutions.
“Working with Guarantor Insure, we’ve brought together AmTrust’s underwriting capacity with our product expertise and in-group claims and legal capabilities to create a genuinely bespoke solution around an identified customer need.
“For the guarantor, it’s not simply financial protection. Having specialist legal and claims support available when a dispute first arises can be equally important in helping achieve an early and proportionate resolution.”
Tim Wakelin, founder of Guarantor Insure, said: “We identified a clear need for protection designed specifically around the risks student guarantors face.
“Working collaboratively with Alps has enabled us to develop a bespoke insurance solution combining our understanding of this market with their insurance, claims and legal expertise.”
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