Just as the name suggests, E Underwriting is a company set up with the specific aim of trading insurance products online.
As a Managing General Agency (MGA), the company has delegated authority from an insurer to underwrite insurance policies and provide binding cover. In addition to E Underwriting therefore being responsible for its own underwriting and pricing policies, it also has authority to appoint brokers and agents and to settle claims.
E Underwriting is a division of a parent MGA, OIM Underwriting, which also underwrites and settles claims on behalf of Lloyd’s underwriters and insurers. OIM is in turn owned by the Arthur J Gallagher (AJG) group, global brokers for commercial insurance, employee benefit schemes and risk management solutions.
AJG was formed by the company’s namesake in Chicago, in the United States, in the 1920s.
For its operations in the UK market, E Underwriting maintains a network of broker partnerships for which it is possible to write directly non-standard insurance policies for home owner occupiers, buy to let residential property and commercial premises. This ability to avoid referral of insurance proposals gives E Underwriting a marketing edge in offering wider acceptance criteria than many insurers themselves may provide.
As an MGA, E Underwriting claims to offer its broker partners a complete package of services, including:
- the design, delivery and maintenance of insurance solutions;
- risk underwriting;
- claims handling and settlement;
- compliance with relevant regulations; and
- analysis and actuarial calculations.
Landlord insurance of course is one of the fundamental safeguards likely to be sought by owners of buy to let property.
There are a number of elements typically associated with the coverage of risks faced by landlords:
- protection of the structure and fabric of the building itself against such major risks as fire, flooding, impacts, storm damage, theft and vandalism;
- protection of the landlord’s contents – such as furniture and equipment in communal areas, for example;
- public liability, also known as property owner’s indemnity – typically for an amount of £1 million or more;
- employer’s liability insurance – likely to be a legal necessity if anyone is employed to help run the buy to let business;
- compensation for loss of rental income in the event of an insured incident;
- legal expenses in the defence of claims from third parties or resolution of certain tenancy issues.
E Underwriting landlord insurance
In fact, E Underwriting provides a wide range of household policies – from non-standard home insurance, to unoccupied property insurance and landlord insurance.
As already mentioned, the company focuses on underwriting non-standard risks. With respect to residential let property, therefore, this includes: