Select & Protect has entered the bedroom rated home insurance market with the launch of its Median policy, designed to complement its Ultima range.
Working closely with the firm's underwriter Norwich Union, the company says research shows that making home insurance an easier sell for advisers is an important priority.
S&P says that a bedroom rated policy alongside its sum insured product will widen the choice for both advisers and their clients.
Simon Hood, chief executive of S&P, says: “The feedback we received from advisers enabled S&P to develop important enhancements to the company's full range to meet their requirements and those of their customers. By offering more choice, S&Phopes to influence the wider market place as to the options available.
“Many advisers will be making the important decision about the route they will take in the light of forthcoming legislation, and the level of their revenue and products available to them will no doubt be a significant factor in this decision.”
“Bedroom rated policies are not new to the market but Select & Protect recognises the ever changing needs of the advisers in the run-up to regulation and the introduction of this policy will ensure it is delivering a rounded proposition for them to make the choice.
“S&P urges advisers to carefully review their existing providers of insurance so that they are offering these same choices with the back-up of a secure underwriter.
“The next step will be the introduction of a policy for the higher net worth clients of advisers and we aim to have a product ready to launch later this year.”