New policy is the first collaboration in a developing partnership between Stride and Hiscox
Global insurer Hiscox is underwriting a new Property Owners insurance policy from Stride Insurance Group targeted at mid-market residential and retail property portfolios.
As well as offering broad and dependable cover for all risks, the scheme is competitively priced to attract business for flats, houses and high street retail units, backed by the expertise and financial strength of Hiscox.
Hiscox made the decision to partner with Stride Ltd based on Stride’s expertise in the Property Owners market and its reputation for offering impeccable service.
Samantha Newman, Regional Manager for Maidenhead at Hiscox UK & Ireland commented: “Hiscox is delighted to be working with Stride to launch a bespoke scheme for commercial and residential property owners. We feel there is scope for a new insurer in this space and Stride’s experience and reputation in this sector made them the natural choice of partner. The team at Hiscox are already working on new ideas to further develop this scheme with Stride.”
The policy has been jointly developed by Hiscox and Stride, with Stride Manager Alan Plaiter, a specialist Property Owners underwriter, having a significant input.
Alan commented: “We wanted the policy wording to be as clear, jargon-free and brief as possible. For example we clarified the property damage section by focusing on the exclusions rather than insured perils. The wording simply states what is not covered and includes everything else, saving several pages of terms to wade through.”
Established in 1973, Stride is a fully independent specialist provider of Property Owners insurance.
Stride Commercial Manager Claire Harris added: “We are really excited to be working with one of the most highly respected insurers in the industry in Hiscox. Together we have developed a competitive product that should have real cut-through in the market, available exclusively through Stride. We will be able to offer the strength of the Hiscox brand and claims service to our portfolio-owning clients. As a trusted brand with an excellent reputation, we really enjoy working with Hiscox and have further plans to collaborate in future.”