As the coronavirus pandemic continues to have an impact on our lives and on our businesses, our first thought is that we hope that you, your loved ones and your teams are keeping well and safe.
magenta seeks to reassure our valued clients, brokers and IFA’s that we are open for business as usual. We are committed to continuing a high level of service and our contingency plan is working well whilst also ensuring the safety and well-being of our staff and their families. We have a skeleton crew of essential staff working safely in our office, with the vast majority now working from home.
Our phone lines are all available as usual and we are able to write new business, renewals and assist with claims. Please do make contact if we can be of assistance.
If you could help us by facilitating the issuance of policy documents via email whenever possible, as printing and posting has to be completed within our office, we would be most grateful.
We are particularly mindful of those more vulnerable in our society that we are insuring, and you will receive our best efforts until the situation stabilises.
Our business teams, Generation, Evolution and Innovation stand ready to help in any way they can.
We understand that your clients will have questions about how their policies will operate in light of the current Government restrictions.
We wanted to share with you some of the feedback we have received from our insurer panel:
Property Inspection - Your client’s policy may well include a requirement to inspect the property insured.
Our insurers have all confirmed that they accept that property inspections may not be able to be carried out at this time as a result of the current Government guidance. Any claim will be treated on its own merits and the reason for any lack of inspection will be taken into consideration.
Please do however let us know of any concerns that you have regarding safety or security of the property.
If you have a specific query about a live policy, then please contact magenta insurance on 03300 555 210 in order to discuss the matter further.
Working from Home - Our insurer panel have confirmed that as long as your client is conducting solely administrative business there is no need to make any amendment to their policy.
However, if working from home extends to include business cash or stock being kept at home or any visitors or employees to the property, the policy cover may need to be amended. Please contact magenta insurance on 03300 555 210 to discuss any adjustment.
Unoccupied Property - Each magenta policy includes a condition that requires specific actions to take place when a property is deemed to be unoccupied and we would ask you to look at the client’s policy wording.
At the point a property becomes unoccupied (as defined in the client’s policy), your client will need to contact magenta insurance for further detail and the policy may need to be adjusted.
We shall be reviewing the position with insurers constantly and we hope to give further updates on an ongoing basis.
If you have any questions or you are unsure, then please call magenta insurance on 03300 555 210.
Payment Protection Insurance - Our insurers have confirmed there will be no changes to cover at this time.
Policy conditions with timescales – Where we are considering New Business and Renewal applications, we are of course mindful of restrictions upon our clients that may prevent them from being able to make changes at their property.
Landlord’s Rent Guarantee – We regret to advise we are unable to offer new quotations at this time. We will of course notify you as anything changes.
Waterlock – Waterlock devices, which detect leaks and standing water at a property and automatically turn off the water, are still available for purchase. Whilst of course our partners will not be able to arrange installation at this time, we are able to endorse the policy to allow purchase now and installation within 45 days of the end of the Government’s restrictions on movement.
Claims - We believe that we have now worked with our partners to move all identified customers from short term temporary accommodation due to previous claims, into longer term accommodation to suit the needs of these difficult times. Please let us know if you are aware of any additional policyholders that require our assistance.
We also appreciate that policyholders may be distressed due to interruption of their claims process including building works, replacement of contents (particularly those which would provide a vulnerable person communication with the outside world), or any other aspect and we would invite you to make contact if your customer needs additional help at this time.
Please do let us know if we can assist in any way to make this difficult time easier for you and your customers.
If you have any questions in respect of a live policy or a specific claim, then please contact us on 03300 555 210 and we will be happy to assist you.