This product is designed to cover a range of commercial and residential properties within the UK, whether this is an individual asset, or part of a mixed property portfolio. The product offers Property Damage, Loss of Rent, Property Owners’ Liability, and Employers’ Liability as standard sections, with the option to include Terrorism cover and Legal Expenses.

This section covers material damage for both buildings and landlords contents, cause by each of the perils as they appear in the policy wording.
The standard perils operative are Fire, Lightning, Earthquake, Aircraft, Malicious damage, Storm, Theft, Flood, Escape of Water, Sprinkler Leakage, Impact, Accidental Damage and Subsidence.

Key features of the Property Damage section, along with some key extensions, designed to provide the most extensive cover available include:

Features

• 35% day one uplift with the ability to increase to a maximum limit of 50%
• £25,000 landlords contents as standard with option to increase in line with sums insured
  

Extensions

• Contract Works covered up to a limit of £250,000
• Capital Additions
• Third Party Failure to Insure
• Fly Tipping
• Malicious Damage by Residential Tenants
• Archaeological Costs
• Subrogation Waiver

This section covers Loss of Rental income following damage to the buildings or landlords’ contents caused by an insured event under section. We will cover you for Loss of Rent, Cost of Re-letting, Business Rates and Increased Cost of working.

Key features and extensions include:

Features

• Alternative Residential Accommodation and Rent up to 33.3% limit
• 36 months Indemnity period

Extensions

• Anticipated Rent
• Loss of Attraction
• Denial of Access
• Compulsory Closure

This section protects against your legal liability to pay damages for accidental damage to property, accidental bodily injury to any person, wrongful arrest, detention, imprisonment or eviction of any person, malicious prosecution or invasion of the right of privacy, accidental nuisance or trespass obstruction loss of amenities or interference with any right of way light air or water occurring during the period of Insurance in connection with the business within the territorial limits.

Features

• £5,000,000 limit as standard, with ability to increase to £10,000,000

Extensions

• Indemnity to Principles
• Legionella with limit of £5,000,000
• Overseas Personal Liability

This section protects against your legal liability for bodily injury to your employees in the course of employment in connection with the business within the territorial limits.

Features

• £10,000,000 limit as standard

Extensions

• Court Attendance Costs
• Unsatisfied Court Judgements
• Work Overseas
• Cross Liabilities

Ventis’ tailored SME and mid-market real estate products will also be available via the Acturis platform later this year. We can issue policies that cover up to 20 properties, with a total sum insured of up to £20m. Policies up to £10k can automatically be bound, with any quotes requiring a referral being handled within half an hour by the Ventis underwriting team.

Features

• Up to 20 properties per policy

• Total sums insured up to £20 million

• Automatic quotes up to £10,000 premium (referrals for higher amounts)

• Same appetite, wording, and risk assessment

• 30-minute referral turnaround with immediate answers

• Direct access to empowered decision-makers

• True partnership approach with our brokers

Contact Ian Newman to find out more: Ian.Newman@VentisInsurance.co.uk