2 February, 2017
R&Q Commercial Risk Services, part of R&Q MGA, is delighted to be supporting the British Insurance Brokers’ Association (BIBA) on its newly launched commercial insurance scheme for businesses. The scheme offers cover for commercial premises and let properties located in areas at risk from flooding.
The scheme, which draws upon expertise from across the market, creates an innovative product exclusively for BIBA members that both helps them meet the usual commercial insurance needs of their SME clients and provide flood cover for the many businesses whose risks are ineligible for Flood Re.
R&Q CRS is acting as the scheme provider, with capacity provided by Lloyd’s.
James Wheddon, Head of R&Q Commercial Risk Services, commented: “This was a fantastic opportunity for R&Q to be involved, from the outset, in a scheme that will be of particular use to independent insurance brokers who are embedded in their communities and have detailed knowledge of the risks they are placing.
“We have put together a range of products that use innovative solutions and flexible underwriting to approach every risk fairly. The launch of this scheme is excellent news for brokers and their customers, further complementing the other benefits that the R&Q CRS products offer, including the recently announced embedded cyber cover.
“Supporting BIBA on this important scheme by creating a product that matches the needs of SMEs and their brokers, who were previously struggling to find adequate flood cover, is a further demonstration of R&Q’s innovative approach and our ambition to be the MGA of choice for the UK’s independent brokers.”