New underwriting division follows Hiscox’s 2007 acquisition of Allison & Partners
Insurer Hiscox and brokers Allison & Partners have partnered to launch INSPIRE, specialising in professional insurances for UK and European small to medium-sized businesses (SMEs).
INSPIRE, a new underwriting division of Allison & Partners with capacity provided by Hiscox, will be based in Allison & Partners’ London and Essex offices and its products will be available both via brokers and direct to the customer.
Hiscox said INSPIRE would focus on:
• Products tailored to small to medium sized businesses and emerging professions (IT, marketing and management consultants) – covers are industry specific and include professional indemnity, internet and email insurance, directors and officers’ liability and complete office packages including buildings, contents, business interruption insurance
• Insurance solutions for the recruitment industry – INSPIRE employs former recruitment professionals who understand the needs of this market.
The launch follows Hiscox’s 2007 acquisition of 49% of Allison & Partners in August, 2007.
Mark Shaw, London sales and development m,nager for Hiscox UK’s Commercial division, said: “This is a very exciting opportunity. INSPIRE brings together Allison & Partners’ expertise in dealing with specialist commercial clients and our capability and experience in providing flexible underwriting solutions in the Professions arena. We are looking forward to working together to develop this new service for what is a very fast-growing area.”
Jim Allison, Managing Director of Allison & Partners, said: “We are delighted to have the opportunity to work with Hiscox to provide an alternative market for brokers to place professional indemnity insurance for the construction industry, IT industry and miscellaneous professions, together with our market leading recruitment facility.”