Products: Aspen tackles underinsurance while NIG rolls out property owners product
Two insurers have targeted the property owners market recently. Aspen Risk Management highlighted that a key benefit of its new product was that it provided practical help in dealing with the growing issue of underinsurance.
The range of cover includes a building cost assessment and property owners’ liability providing up to £10m of indemnity along with director and officers’ cover up to £500,000 and commercial legal expenses up to £250,000. The provider added that, to support brokers on both large and small portfolios, capacity was available for an estimated maximum loss of up to £75m for any one location.
Kevin Pallett, managing director of Aspen Risk Management, commented: “In a well-served market segment like
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