New £10 million property underwriting limit for 2008

2008 sees APC with a unique contract within Lloyd’s combining Property, Combined Liability, Professional Indemnity, Directors & Offices and Legal Expenses. Other Classes will follow in due course. The contract is 100 per cent underwritten in the Lloyd’s market.

As a direct result of the introduction of the new combined contract our underwriting property limits have also increased significantly from £3 million to £10 million in any one location.

Underwriting Director Ian Russell said: “I believe this is one of the largest contracts within Lloyd’s and very possibly the largest authority for any underwriting agent in the UK for the classes of business that we write. While we will now be working with our brokers to attack the larger risks, we will also continue to write the usual high volume of our regular package business.

“Our brokers have been asking for us to write larger risks for some time, but until now having numerous single line Lloyd’s contracts has restricted us from doing so. This contract will now give us the power to compete with the major composite insurers and we are continuing to re-brand products that will include the option for add-on’s such as Legal Expenses, D&O, and Professional Indemnity cover.”

We work with approximately 1,000 UK regional brokers and our capacity is provided by a number of Lloyd’s Syndicates, all of which are ‘A’ security rated.

Mr Russell said: “We are a fresh, forward-thinking, service orientated underwriting agency and we will continue to be focused on our flexible underwriting approach with all our new products. The new brand provides a raised platform from which we can launch the next phase of our development and our brokers will be seeing a variety of new products being released in 2008.”