Enhancements to our Shop & Salon product

We’ve made some enhancements to our Shop & Salon product to allow you to place more business online without the need for referral.

What’s new? 

The following enhancements are effective from Monday 13 November 2023 on both Fast Trade and Acturis eTrade:

Widening our acceptance criteria

  • We’re increasing the total combined MD/BI sum insured limit from up to £5m to up to £7.5M*
  • We’re doubling our upper sum insured limits for Stock £500,000 to £1,000,000
  • We’re doubling our maximum sum insured limit for Business Interruption from £1,500,000 to £3,000,000.
  • With five different sum insured options now available for Business Interruption (£1m/£1.5m/£2m/£2.5m/£3m) you’ll be able to offer your clients greater flexibility to build the most suitable level of cover for their needs.

These changes have been made as a direct result of broker feedback and following our continuous review of common referrals and declines to make sure we’re delivering you more online quotes first time round.

Additional changes

Due to the ongoing challenge of weather-related events, and to help keep our rates as competitive as possible for your clients, we’re introducing an increased Escape of Water excess of £500 under our Shop & Salon and Office & Surgery products.

This means we now have a consistent approach across our digital Property based products, with a £500** Escape of Water excess applying to all (Property Owners, Commercial Combined, Shop & Salon and Office & Surgery).

This will be effective Monday 13 November for new business and renewals from 24 December onwards.

Support managing flood risks

To help support your clients to prevent and reduce the impact of floods, take a look at our Loss Prevention Standard on flood guidance and mitigation.

UK Flood - Guidance and Mitigation LPS >

* Dependent on trade

** Increased to £1,000 for all digital property-based products (new business and renewal) where there has been one or more Escape of Water claims in the last 12-month period