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Catch up with the latest press releases from LV=

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Press release: 11/02/2008

ABC Insurance, part of the LV= Group, today announced the launch of three new commercial packaged insurance products: Property Owners, Shops, and Offices & Surgeries Insurance.

The packaged policies are all underwritten by Liverpool Victoria and will be administered from a dedicated service team in Croydon. This team will provide immediate quotations and sales via telephone and rapid quotes and policy fulfilment in response to e-mailed or faxed enquiries. Brokers can also choose to receive policy documents by email as well as next day dispatch of hard copy documents.

ABC Insurance Managing Director, Phil Bunker, comments: "We have set up our service centre so that all our brokers can obtain a speedy, efficient service in a way that suits them. By telephone we offer an immediate quote and sale and by email we'll respond rapidly with a very competitive price and, as soon as the sale is confirmed, the policy documents can be e-mailed straight back. This service will help ABC's broker clients win new business by optimising their customer response time .

"Also, because ‘Packaged' products are less complex to underwrite than Commercial Combined policies, we are able to administer them centrally. With modern systems this significantly reduces our costs and allows us to be extremely competitive."

All three of the new policies include free Legal Expenses cover and a 24 hour Legal Helpline as standard. In addition, they offer unusually high policy limits whilst giving the policyholder the flexibility to tailor cover to their own requirements with a wide range of optional extensions.

Standard cover under the Shops Insurance and Offices & Surgeries Insurance policies include £250,000 Computer Breakdown, £500,000 Electrical and Mechanical Breakdown of Equipment, £15,000 Refrigerated Foods as well as £5,000 Theft by Employees.

The Property Owners Insurance policy accommodates both residential and commercial properties on a single policy. It caters for both the individual ‘buy to let' investor with a single property, and for commercial property owners with a large portfolio of up to 99 properties. Standard policy cover includes £10,000 Unauthorised Use of Electricity and Gas, £25,000 Trace and Access, and Loss of Rent up to 20% of the building sum insured.

All three products will offer policyholders the option to insure Accidental Damage on Buildings and Contents, Terrorism and Subsidence.