Captive specialist insurance and reinsurance company underwriters, I-RE, have announced the addition of professional liability (PL) and general liability (GL) for the care sector to bolster its RE-PAID captive product. Brokers and their care sector clients will be afforded access to primary liability coverage through RE-PAID, with the addition of PL simplifying access to A-rated insurance for care businesses “who want to back themselves by taking a risk in a captive”. I-RE claims the benefits of its product are its simplicity and ease to set up, its low cost and flexibility, its tailored design for brokers, in addition to no reinsurance or fronting necessary, with its non-stacking collateral. Andy Jeckells, I-RE’s co-founder, believes that “adding professional liability to RE-PAID makes it easier for brokers to give their care sector clients the cover they need”. He adds that the combination of PL and GL in one product cuts “complexity and costs, while offering the strength of A-rated insurance”.
