NBS Underwriting targets the third sector with combined package product launch

The managing general agent highlighted the community enterprise product had been developed for organisations that fall under the third sector umbrella including community, voluntary or faith groups, social enterprises, and community interest companies.

According to the MGA, the question set has been designed to allow brokers to input details directly for a wide range of risks ranging from micro-organisations all the way through to substantial SMEs.

It listed key benefits including material damage, business interruption, equipment breakdown, employers liability and public and products liability. In addition the MGA cited professional liability, management protector, director and officers cover (trustee indemnity) and legal expenses in the package.

Ian Chapman, underwriting manager at NBS Underwriting commented: “We are excited to be launching our new Community Enterprise product.

“We are always looking to develop competitive and market-leading policies that give brokers a competitive advantage. We know this will be a great addition to our portfolio of existing products and supports our future growth ambitions.”

Capacity

NBS, founded in 2011, has specialisms ranging across food & eateries, sports & social clubs, retail & petrol stations, combined liability/contractors, property owners as well as home and contents insurance.

The household lines include cover for non-standard risks such as subsidence, non-standard construction, holiday homes, holiday lets, residential lets, short-term unoccupancy and customers with poor credit history.

The MGA detailed that it had teamed up with Axa as its latest insurer partner providing capacity for non-standard household policies.

The firm noted the development, and from working with Flood Re, would give brokers access to buildings and contents cover for properties located in flood risk areas.

Partners

Axa will also provide capacity for NBS’ mid net worth homes product which is designed for clients with buildings and contents valued at over £500,000 and the business home product for household owners running a business from home.

Steve Cowman, managing director at NBS Underwriting concluded: “Axa is a fantastic addition to our existing panel of ‘A’ rated capacity partners which allows us to ensure financial security, stability, and trust.”

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