Digital niche personal lines broker, Ceta, has today announced the addition of the Adapt non-standard home insurance notional product from the MGA Arkel to its general insurance panel.
Underwritten by insurer Am Trust, Adapt’s notional product is designed to cater for properties that fall outside the appetite of mainstream insurers. Critically, being underwritten on a notional sums insured basis, the product aims to help reduce the widespread problem of underinsurance, where many homes are insured for far less than their true rebuild cost.
Recent data shows that around 70% of UK residential properties remain underinsured, with average cover at just two-thirds of the rebuild value, exposing clients and brokers to financial and regulatory risk.
Adapt’s flexible underwriting appetite and notional sums insured model aims to give brokers a practical and flexible solution for non-standard home risks - from unusual build types and mixed occupancies to holiday lets or adverse claims history.
The Adapt policy Notional Sums Insured limits are £1,000,000 maximum for buildings and £100,000 for contents.
"Adding Adapt to our panel is a strategic win for advisers and their clients," Mark Chappell, head of intermediary at Ceta, said.
"With underinsurance still pervasive in the UK market, brokers need products that go beyond tick-box sales and genuinely protect clients. This new notional product gives brokers the flexibility to place complex cases confidently, while helping safeguard clients from inadequate cover that can be financially devastating at the point of claim."
