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ECIC plans significant growth in property insurance


LetRisks scheme and investment in perils mapping signposts ambitions


ECIC, the specialist insurer for the construction sector has renewed its Binding Authority Agreement with LetRisks, the niche insurance provider for estate and letting agents. Creating a strong foundation to support the insurer’s ambitions to grow its property portfolio in 2016, ECIC will underwrite LetRisk’s insurance scheme for Tenants Contents and Liability, Landlords Buildings & Contents, incorporating Public/Property Owners & Employers liability.  The contract will also encompass underwriting services for The Landlord Hub – a tenant referencing service provider acquired by LetRisks in 2015. 

 

With underwriting and pricing accuracy key to its growth ambitions in property, ECIC has signed a multi-year agreement with LexisNexis Risk Solutions, a leading provider of data, analytics and technology, to access its risk assessment and exposure management platform, LexisNexis® Map View. Map View allows risk data to be aggregated from multiple sources, allowing more informed underwriting decisions and better management of risk exposure.

 

“ECIC has the specialist understanding of our market and a focus on delivering results working in close collaboration with our business” explained Michael Portman, Director of LetRisks. “Based on the success of the last two years and ECIC’s investment in new technologies to enhance our performance even further, we are delighted to be extending and growing our relationship with ECIC.”

 

Phil Scarrett, Sales and Marketing Director for ECIC added: “Property is a strong growth area for our business and through investment in insightful perils mapping we are in a position to deliver a high level of accuracy in risk calculations, supporting pricing optimisation for our cover holders and clients. We look forward to supporting LetRisk’s growth ambitions in the lettings market, following the acquisition of the Landlord Hub.”


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ECIC media contacts

For further information please contact the ECIC Press Office at HSL:  Alison Reeson/Clare Watson.  0208 977 9132.  ECIC@harrisonsadler.com



ECIC has a Best's Credit Rating of A- effective as of September 2016. For the latest rating, access www.ambest.com               

 

EC Insurance Company Limited (ECIC) is part of the Markel group.  Markel Corporation is the ultimate holding company for ECIC and Markel International Insurance Company Limited. EC Insurance Company Limited (ECIC) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. (Financial Services Register No.: 202123). Registered Office: 20 Fenchurch Street, London EC3M 3AZ. Company Number: 01266206. Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Financial Services Register No.: 202570). Registered Office: 20 Fenchurch Street, London EC3M 3AZ. Company Number: 00966670. Please note that telephone calls may be recorded for training and monitoring purposes.

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