LV Withdraw from Home Insurance

LV Withdraw from Home Insurance

Jason Harden Jason Harden

Jason Harden

Insurance Broker Specialist for all types of Private Client, Personal, Commercial and Property insurances.

发布日期: 2017年1月12日
+ 关注

 

LV just advised today that following an extensive strategic review and a series of staff consultations, they have taken the decision to stop writing new business and renewals for ABC Home from 1 April 2017.

Back in November they explained that for some time their ABC Home product hadn’t been performing as well as they would have liked and that they were considering a proposal to withdraw this product from the broker market. The strategic review and formal consultation process didn’t provide them with any alternative options for ABC Home so the decision to withdraw this product is the best approach for LV= Broker.

This decision will not affect the Broker Personal Motor or Commercial Lines business.

Why has this decision been reached? 

There are a number of external factors that have created a challenging environment and outlook for the broker home insurance market, and with their disciplined approach to underwriting they will only grow where it makes financial sense to do so. Therefore, following a forensic evaluation of the performance of ABC Home, the best decision for them is to withdraw it from the market

要查看或添加评论，请登录

Jason Harden的更多文章

  • Asbestos Safety
    2024年6月10日

    Asbestos Safety

    The period from the 1950s to the 1990s, which coincided with the use of RAAC, also marked the peak of asbestos use in…

  • Advice for when your are on holiday
    2023年7月18日

    Advice for when your are on holiday

    Summer holidays are in full swing with people either travelling abroad or opting for a domestic break. To ensure your…

  • How to minimise the risk of subsidence when planting trees and shrubs.
    2023年6月15日

    How to minimise the risk of subsidence when planting trees and shrubs.

    As we enjoy the warmer weather, we know that many of our clients will be keen to finally start enjoying their gardens…

    1 条评论
  • Protecting against Cyber Risk & Data Breaches
    2021年10月21日

    Protecting against Cyber Risk & Data Breaches

    Some simple steps to protect your business against Cyberattack According to a recent global survey*, ninety-three…

  • Changes to whiplash claims
    2021年5月24日

    Changes to whiplash claims

    In October 2015 the then Chancellor George Osborne announced an intention to "ban whiplash claims" due to perceived…

  • Key improvements to the Hiscox Home 606 wording:
    2021年4月28日

    Key improvements to the Hiscox Home 606 wording:

    Hiscox have released a new policy wording for their 606 home policyholders to ensure they cover many of the new risks…

  • Lockdown Easing - trading from Pavement?
    2021年4月13日

    Lockdown Easing - trading from Pavement?

    With this is mind, some businesses may be having to adapt to obtain a pavement license from their local authority to…

  • Covea Executive Motor Changes
    2021年3月29日

    Covea Executive Motor Changes

    Executive Motor product from Covea hashad its cover reviewed and enhanced from 1st May 2021. They are pleased to offer…

  • 5 factors that dictate the value of your wine collection
    2021年2月18日

    5 factors that dictate the value of your wine collection

    If you’re thinking about purchasing wine, or have started building a collection, it’s important to understand what…

  • Driving in Europe from 1 January 2021
    2020年12月11日

    Driving in Europe from 1 January 2021

    With there currently being no agreement between the UK and the EU following the Brexit transition period, a Green Card…

社区洞察

其他会员也浏览了