7 October 2024 - Addept Insurance Services (Addept Insurance), a wholly-owned subsidiary of Addept Group, has today announced a capacity partnership with Ortus Underwriting (Ortus), a specialist managing general agent and part of Xact Risk Solutions, with underwriting capacity provided by Great American International Insurance (UK) Limited (Great American).
Ortus and Great American will initially provide capacity for Addept Insurance’s new accident and sickness ancillary insurance product called Bill Ninja, and Recovery First, its groundbreaking, ‘at fault’ motor accident product.
Bill Ninja has been developed specifically to provide sole traders and self-employed workers with affordable short-term financial cover to pay bills in the event of an injury at work or illness. The product is available as a flat rated ancillary add-on cover that can be offered with any other trade insurance policies.
Recovery First provides financial and other support to customers who have been injured or suffer other challenges following a motor accident where no other party was at fault. The product has been specifically designed to provide an alternative to current low utilisation ancillary products, such as motor personal accident cover, which typically only cover catastrophic injuries.
Richard Finan, Managing Director of Addept Insurance, said: “We have known the Ortus team for many years. They are recognised for delivering innovative, quality products and share our focus on supporting brokers and other intermediaries with ancillary products that meet the evolving needs of their clients. We look forward to working with Ortus as we identify and develop better products to address other gaps in the current market’s solutions.”
Matthew Stark, Chief Executive Officer at Ortus Underwriting, said: “The Ortus underwriting team are vastly experienced in the Accident & Health sector and have great reach into specialist capacity markets. Having worked with Richard previously, we know Addept has the innovative approach and expertise to develop market-changing products. We are really excited to be able to help with their capacity needs.”
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