press release

LV= Broker commercial lines develops mid-market offering

Brokers will now be able to offer SME customers tailored risk solutions with ‘Optimum’, a new Mid-Market product suite from LV= Broker Commercial Lines.

Developed in response to broker feedback, LV= Broker’s Optimum is a risk-management led proposition for Mid-Market premiums from £10,000 to £100,000 within the wholesale, manufacturing, leisure and general commercial sectors. The proposition is ideally suited for SME customers requiring a more holistic approach to protecting their business alongside the more traditional, physical building or property cover offered as it provides assistance in safeguarding the SME customer’s reputation and trading ability following a loss or accident.

Leveraging the commercial insurer’s existing commercial combined products, Optimum offers a range of new extensions including Claims Preparation, Loss Minimisation and Public Relations Expenses as well as an increase on limits for existing extensions. LV= Broker will also offer additional value services, ranging from customer site surveys to legal support as well as free online safety risk management services for customers, helping brokers secure the right business.

Euros Jones, LV= Broker Commercial Lines Director said: " LV= Broker Optimum has been designed specifically for today’s Mid-Market sector, offering customers advice on a range of issues, from regulation to employment law, as well as the more traditional physical insurance cover.

“It can often prove detrimental for both brokers and their customers to assume that one size fits all with SME’s increasingly likely to change broker if they can’t get a tailored solution for their needs. Optimum enables us to work in partnership with brokers to develop a policy that fits their client, be it enhanced policy wordings, risk management solutions or dedicated underwriting and claims specialists. This flexible approach to underwriting, combined with our risk appetite, allows us to find the right solution for brokers and their customers.”

About LV= Broker

LV= Broker is part of the LV= group of companies, and incorporates Highway Insurance and ABC Insurance.

LV= employs over 6,000 people and serves over 5.8 million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.

When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations including ASDA and Nationwide Building Society.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

Lloyd Purnell
Senior Press Officer (General Insurance)
020 7634 4433
07500 835885