Groupama adds to its commercial insurance product range

One business insurance specialist has recently announced an addition to its range of specialist commercial insurance products with the launch of its new security firm insurance cover.

Groupama Insurances has launched a new product called Exclusively Security, which is aimed at creating never before available opportunities for broking firms targeting the business liability insurance needs of the security industry.  The new cover will include insurance for firms that specialise in such sectors as fire extinguisher maintenance and supply, CCTV and alarm installation, and manned security guarding including manned security guarding, among others.

The range, which will be offering commissions of as much as 30 per cent and will be open for market trading, will be branded under the aegis of Groupama’s new ‘Exclusively’ market line over the next few months, the insurer said.  Malcom Smith, director of commercial lines for Groupama, commented on the new offering, stating that the firm has build a solid reputation concerning the quality of its underwriting, so one of its goals is to maximise this in order to benefit a wider audience of brokers.

Mr Smith added that Groupama recognises that a ‘one size fits all’ approach is simply not appropriate in certain business market sectors.  The commercial lines director also said that this new cover from Groupama will soon offer great sales opportunities for brokers as a result.

Exclusively Security will be providing cover for financial loss, loss of keys, wrongful arrest, as well as coverage extensions in the areas of professional indemnity in addition to products liability and public liability.  The cover will also offer optional sections in several other key related areas such as money, fidelity guarantee, and employers liability as well.

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