Nelson Policies launches Full Perils Cover for Commercial Unoccupied Property
Nelson Policies at Lloyd’s is excited to announce the release of a new Commercial Unoccupied product – Full Perils Cover.
Our experienced team of non-standard underwriters have been busy creating a new product specifically designed for clients with vacant commercial property.
Our Full Perils Cover provides tailored insurance for Unoccupied Commercial Property owners and is an additional contract to our current Unoccupied Residential Property Owners offering.
The new innovative product is designed to accommodate a diverse range of commercial properties, which may be vacant for a host of reasons, including undergoing works, awaiting sale or let, pending probate or awaiting planning permission.
The Full Perils product was made possible when we secured capacity via Great Lakes Insurance SE, a subsidiary of Munich Re Group. Subsequently, you can have peace of mind that you will be offering your clients cover that has the financial strength of Great Lakes Insurance SE’s A+ (AM Best) and AA- (S&P) status.
Our Full Perils Product provides two levels of cover:
Level 1 – FLEEA and Property Owners Liability (Nil Excess)
Level 2 – Full Perils including but not limited to Escape of Water, Theft and Malicious damage (Minimum £500 excess, Subsidence £1,000)
The maximum property sum insured with the Full Perils Cover is £5,000,000 (any one risk) and £5,000,000 Property Owners Liability.
For more information on our Full Perils Cover for commercial properties, get in touch with our friendly and professional non-standard underwriting team.
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Q&A with … Kelly Staggs our longest serving team member, renewals underwriter.
As I oversee all the commercial renewals, I like the fact I am continuously kept busy. Every day, I am reviewing a different type of risk and seeing how other people would underwrite it. I also like having the ability to re-review a risk and provide the best options for both the Insured and broker.
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