Legal & General also joins RSA as an underwriter of Paymentshield’s landlord’s insurance product.
Currently, Paymentshield’s products are used exclusively by Sesame Bankhall Group, and Openwork advisers, prior to a full roll-out to other members later this year.
In addition to being underwritten by the panel, the new home insurance product also offers increased buildings sum insured, a choice of annual or monthly payments and includes trace and access cover.
The addition to the panel comes on the back of a number of major partnerships already announced by Paymentshield this year. In January, SBG announced its new General Insurance Portal would be powered by Paymentshield’s technology, providing a client-friendly quote and apply system. The system provides SBG advisers with a single portal, through which they can access general insurance products.
Openwork also recently confirmed it had signed a long-term contractual agreement with Paymentshield to provide general insurance cover to its members, which would see all Openwork advisers utilising Paymentshield’s new panel proposition in place of its existing insurance panel.
Tim Johnson, CEO at Paymentshield commented:
“I’m extremely pleased to welcome Legal & General to our panel of insurers and look forward to working with them going forwards. I know that the strength of their brand, expertise and competitive pricing will appeal to brokers and clients alike.
“We continue to invest in our proposition, and as a result are making a number improvements to our offering and systems. The addition of another established and respected brand is testament to this. We look forward to making more enhancements which will ultimately help ambitious brokers to grow their businesses.”
Steve Bryan, Head of Intermediary Partnerships at Legal & General said:
"We’re really pleased to be joining the Paymentshield panel, which supports our aim to continue to grow our share of the intermediary insurance market. We believe our expertise and experience in household insurance which spans over 90 years, and our understanding of the landlord insurance market will mean that we will provide a reliable and trusted alternative for the advisers who use the Paymentshield panel."
