Business

Iprism launches unoccupied properties offering

The new product will provide cover for a wide range of commercial properties, including heavy industrial buildings as well as those of non-standard construction

Iprism, a specialist commercial, property, tradesman and high net worth MGA, has launched a new Unoccupied Commercial and Residential Property Owners product to address the anticipated “spike” in unoccupied properties post-lockdown.

The new product will provide cover for a wide range of commercial properties, including heavy industrial buildings as well as those of non-standard construction.

According to the insurer, the product will also cover a “wide range of perils” in addition to the standard fire, including lightning, explosion, earthquake and aircraft risks.

It will also offer protection to unoccupied properties undergoing alterations and renovations, and is available on both short and longer term basis.

Iprism’s managing director Ian Lloyd said:  “Many of our brokers have told us that they expect to see an increase in unoccupied commercial properties as a result of the economic disruption caused by Covid-19 and the extended periods of enforced lockdown. 

“Iprism has designed this new product to support the needs of SMEs, addressing the exposures facing unoccupied properties, across a range of uses and timescales.”

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