Legal and General unveils new home insurance product

Legal and General has announced it is launching a new home insurance product that is designed for customers in the mid and high net worth market.

Enhanced home insurance cover is looking to meet the needs of more affluent consumers who are expecting a personal and professional service and who prefer to use a trusted brand.

The firm has partnered with Aqueduct Underwriting, an expert in arranging and administering home insurance for larger homes and higher valued belongings.

Mark Holweger, director of Legal and General’s general insurance business, said the company’s multi-distribution strategy means it can give customers a choice in the way they arrange their policies.

He added: “The launch of Enhanced importantly complements the existing cover options available to customers through our broker partners.”

The new product is initially available through regional brokers and in the direct market, while it will soon be rolled out to Legal and General’s other intermediary and affinity distribution channels.

According to the organisation, the number of wealthier individuals in the UK is set to rise by an average annual rate of eight per cent to reach 12.4 million in 2014.

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