magenta insurance is an established Chartered Insurance Underwriting Agent specialising in non-standard or distressed residential property.
We are the BIBA scheme providers for non-standard, distressed and Escape of Water (EOW) prone residential risks.
Working closely with BIBA, we’re always looking to expand our relationships as part of our mission to protect and support you and your clients, especially during these uncertain times.
With 5 A-rated insurers, we can be flexible in our approach to supporting your business. We are often able to provide cover where others cannot.
We are experts in managing EOW risks and we offer an award winning EOW risk mitigation service. This combines technology and a monitoring and claims service to manage all aspects of EOW and help your clients avoid the devasting effects of an EOW event. This enables magenta insurance to offer cover where others often cannot.
£2.5m is paid daily by the insurance industry for EOW claims – the biggest cause of damage to homes across the UK. Our system enables early detection and switch-off of water thus alleviating high volume water damage and also incorporates close management of our claims, by working with the best claims handlers, loss adjusters and trade networks, to deliver a high quality service with empathy, efficiency and cost control, putting the customer always at the heart of everything we do.
- Homeowners with non-standard properties, moral or physical hazards
- Holiday Homes / Holiday Lets, Air B n B, Partially let
- CCJs, bankruptcies, owner living overseas, business use from the home, unusual occupancym
- Distressed risks through poor claims history or previous EOW history and high associated excesses /premium
- Policyholders for whom you are struggling to find suitable terms or cover in the market
Key policy features
- Flexible underwriting approach
- Flood RE option
- EOW technology recognised by magenta insurers for risk mitigation
- Wide cover with A-rated insurers
Key benefits to members
- Enables placement of distressed and non-standard risks alongside risk mitigation measures where needed
- EOW solution, delivers meaningful cost savings for policyholders
- Provides brokers with an effective solution for clients
- Improve outcomes for policyholders, brokers and insurers
- Easy to contact, dedicated personnel for each broker