Specialist Consumer Products Insurance

Canopius’ Specialist Consumer Products (SCP) group is recognised as a market leading underwriting team for the provision of consumer protection and added value (AVA) insurance products.

We work with a range of banks, credit card providers and affinity groups; and distribute products through retailers, member and trade associations, financial organisations, as well as specialist Managing General Agents (MGAs) and Lloyd’s coverholders.

The team comprises of specialist underwriters who work closely with a number of financial services industries, and have the expertise, relationships and experience to not only help non-specialist distributors understand the complexities of consumer financial products, but we can also help guide customers and distributors through the London insurance market.

Our main aim is to develop tailor-made products that create a solution for relevant customer market and distribution channels, all while which support our trading partners’ brands.

We work with businesses and organisations in UK, Europe, Asia, North America and Australia, and have the experience in our team to ensure that any product we take to market will always meet the customer and regulatory requirements of any territory.

Whether it’s a new scheme, a bespoke product or refreshing an existing product, we welcome the chance to talk to you about any ideas you may have.

No two programmes are the same, and we underwrite a diverse portfolio of affinity products and solutions:

Particular areas of focus/expertise include –
• Specialist travel
• Trip cancellation
• Search & Rescue and medical evacuation/repatriation
• Cash plans
• Retail schemes and conceptual products
• Credit Card AVA – Travel & other enhancement products.

We can work with all types of benefits under the heading of ‘Accident & Health’ that can support and enhance any scheme; from accidental death, permanent total disablement through to temporary disablement. We also create insurance solutions that can include medical expenses, cancellation and many other travel-based benefits.

We have breadth of experience in providing a broad range of products to the mortgage, house purchase and home rental sectors and are one of the UK’s major providers of these products.

Focusing primarily on the UK market, we work closely and even directly with Building Societies, specialist mortgage lenders, intermediaries and Managing General Agents (MGAs) in the sector. Particular areas of expertise include:

For homeowners and tenants:
• Mortgage payment protection insurance
• Committed outgoings/payments protection
• Bill payer protection
• Income protection

For lenders:
• Residential mortgage indemnity – full cover and excess of loss
• Self-build/custom build mortgage indemnity – covering the period of construction

For landlords:
• Rental deposit waiver
• Buyer/seller costs insurance

Canopius also provides Added Value Ancillary (AVA) products which complement and enhance key financial products such as bank accounts or credit cards. Some examples of what we can offer on an AVA basis include –
• Motorist protection products – for example collision damage waiver/excess waiver
• Consumer electronics ‘all risk’ insurance
• Premium waiver and other forms of payment protection
• Credit card travel/accident
• ID theft
• ATM theft
• Ticket cancellation
• Home emergency

Further information:

Canopius Specialist Consumer Products profile