Aviva is set to double its automatic business interruption indemnity period to 24 months from 1 November, in what it claims is a UK market first to tackle underinsurance, Insurance Age can reveal.
The updated offering to new business and renewals will only be available on Aviva’s FastTrade platform initially. The enhancement will be applied to commercial combined, office and surgery, and property owners policies.
The sum insured will be proportionately increased to match the extended cover, Dave Martin, MD for UK commercial lines and chief distribution officer, explained.
Martin told Insurance Age the move will make the product “substantively different” to those in market.
He noted: “We
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
