Hiscox Insurance Company Ltd

hiscox logo

Hiscox maintains headquarters in Bermuda but its principal market for business is the United States, where it specialises in professional and general liability insurance. Nevertheless, it is an underwriter at Lloyd's of London, is listed on the London Stock Exchange and is a component of the FTSE 250 Index.

Indeed, the company started life in 1901 as the Roberts underwriting agency at Lloyd's. In 1946, the agency was joined by Ralph Hiscox, who formed a Roberts and Hiscox partnership. Hiscox became chairman of Lloyd's in 1967.

In 2007, the company became domiciled in Bermuda and adopted the group name of Hiscox Ltd. Target markets for its products are largely corporations and high net worth individuals.

In the UK, Hiscox Insurance Company Ltd has its head office in Colchester Essex. The company is also represented in many other western European countries - France, Germany, Spain, the Netherlands, Belgium and Ireland.

Although professional liability is one of the principal areas of its insurance products in the UK, Hiscox has also currently in issue some 50,000 home insurance policies and business insurance policies for more than 150,000 small and medium sized enterprises.

This growth is at least partly due to the massive injection of cash into the company's marketing budget, which is reported to have shot up from £400,000 to £10 million in 2009.

Landlord insurance

Insuring a buy to let property is typically a quite different matter than insuring your home as an owner occupier.

Whilst the landlord may be equally concerned to protect the bricks and mortar that represent the major investment, the principal concern may be the smooth running and profitability of what is effectively a business - a business that relies on a steady stream of rental income from tenants who are safely and securely accommodated in the let premises.

Therefore, landlord may be looking for insurance that provides a degree of security against loss of rental income in the event that the premises may no longer be occupied because of an incident causing loss or damage to the building.

The landlord may also be concerned about protection from the risk of claims arising from his duty of care towards tenants and members of the public - hence the typical inclusion in landlord insurance policies of public or property owner's liability cover.

Hiscox landlord insurance

Hiscox Insurance Company Ltd does not identify any policies specifically written for landlords.

However, business from small and medium sized enterprises remains firmly in its sights and it has a wide listing of policies under the heading of business insurance products, together with the assurance that the company is able to respond to requests for insurance from practically any business undertaking.

It may be argued that many landlords in the UK are operating as small or medium sized businesses. Hiscox, therefore, may be expected to live up to their marketing campaign of being "as good as our word" in writing policies specifically for landlords.