ICMIF member Ecclesiastical Insurance (UK) has recently launched a new product for office-based businesses providing professional services as it continues its ambitious growth drive.

Ecclesiastical says the Office Professions product is aimed at all clerical-based office risks, including professions such as accountants, architects, estate agents, lawyers, and insurance brokers, as well as call centres, graphic designers, consultants, and many other types of office.

The new product includes property damage, business interruption, and equipment breakdown covers as standard, but can also include fine art and collections under the same policy if selected.

The policy also benefits from a conditions precedent free wording, full theft cover, temporary removal of valuable papers, undamaged tenants’ improvements, and liability covers including PR crisis communication, libel and slander and breach of intellectual property rights.

Growth opportunity

Ecclesiastical says it has identified the professional services sector as a significant growth opportunity and has launched the product in response to broker feedback.

It has set ambitious growth targets as it looks to double the size of its business over the next few years.

Office professions is the second major launch in a year for the specialist insurer following its move into the Leisure market and demonstrates its growing risk appetite.

Richard Coleman, Managing Director of Ecclesiastical UK, said: “The professional services sector is an exciting opportunity for us as we seek to grow the business. Even though it’s an established and competitive market, we’re confident we can compete because we have a compelling proposition.

“We’ve seen huge growth in our regions and real estate book and brokers have told us they want to do more business with us. Office Professions is a logical step for us as we insure many of the office buildings they work in.

“By combining our unrivalled knowledge of specialist property risks, with our market-leading service, we believe we’re offering something very appealing in the professional services market.

Purpose

Coleman added that the specialist insurer’s unique purpose would also resonate with professional firms.
“Most businesses are now sourcing ethical suppliers, and we stand out in the market as an insurance provider that distributes its available profits to good causes,” he said.

“The more we grow, the more we can give to good causes through our owner Benefact Group, and this makes us a unique organisation to do business with.”

Ecclesiastical offers insurance, risk management and award-winning service across a broad range of specialisms, including leisure, schemes, art and private client, real estate, charity, heritage, education, and faith.

Find out more about Office Professions insurance here.