Product Oversight and Governance

Jensten Underwriting entities achieve fair value from their products, and good customer outcomes, by having embedded sound principles of product oversight and governance through the operation of its Product Review Group and Product Underwriting Board, which collectively are responsible for both the design, delivery, and monitoring of our products where we are a co-manufacturer.

Our target markets are defined at an appropriate level, based on the nature and complexity of our products.

We monitor performance of our products throughout their lifecycle, to ensure they meet our customers’ needs and provide fair value.

Our products are subject to annual assessment and review in conjunction with insurers to ensure products provide fair value for customers.

We review our distribution channels and the remuneration they receive to ensure they are appropriately targeted.

Target Market Statements and Fair Value Statements can be found below:

Caravan

Target Market Statement

Jensten makes touring caravan and static caravan insurance simple and slick. Reduce your administration and provide a quicker service to your clients with our instant quotes and point of sale documentation.

Jensten offer two caravan insurance schemes, one designed to cater for those with touring caravans and the other to cater for those with static caravans.

These policies are designed to provide financial protection in the event of an insured peril causing damage to the caravan.

As well as providing cover to repair damage to the caravan the policy will also cover emergency removal following a road traffic accident, extra costs incurred in hiring another caravan or staying in a hotel should the insured’s holiday be affected by the damage to the caravan and cover for contents and equipment.

Who the product is suitable for:

Touring caravan owners with caravans valued up to £40,000
Static caravan owners with caravans valued up to £60,000

Features & Benefits:

Cover is available for contents up to £5,000 and awnings valued up to £2,500 where the caravan is being covered as well
New for old cover is available for caravans under 5 years old
240 days of European use included as standard
Cover is available for both twin axle and single axle vehicles
If the insured cannot stay in their caravan as a result of loss or damage and they decide to continue with their holiday, we will pay for hotel accommodation or alternative caravan hire up to £75 a day for up to 14 days

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, The Channel Islands or the Isle of Man
Caravans which are not stored in Great Britain, Northern Ireland, The Channel Islands or the Isle of Man
Caravans being used for business purposes other than static caravans being used for holiday lets
Caravans being used as a permanent home
Touring caravans valued at more than £40,000
Static caravans valued at more than £60,000
Touring caravans where the proposer is aged 75 or over

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Caravan product review was completed 31st December 2023.

Product Review
The Caravan product is scheduled for review in Q4 2024.

Motorhome

Target Market Statement

The motorhome scheme is designed to provide financial protection in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Those who own a motorhome

Features & Benefits:

Continental Use 270 days as standard with no green card required
Protected no claims bonus available
Cover for drivers age 25 to 79 years (Proposer must be aged 30 years or over)
In car audio and visual equipment cover up to £500
Comprehensive cover includes the following (depending on scheme)
Awning, gas bottle and generator cover up to £2,000
Emergency accommodation cover for a maximum of 14 days
Personal effects (for equipment and personal belongings related to camping and/or caravanning)

Who the product is not suitable for?

Those that do not own a motorhome
Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Motorhome product review was completed 31st December 2023.

Product Review
The Motorhome product is scheduled for review in Q4 2024.

Commercial Vehicle

Target Market Statement

Jensten Underwriting (Commercial) Limited is the perfect home for your Commercial Vehicle requirements. Reduce your administration and provide an excellent service to your clients with our instant quotes and point of sale documentation.

Jensten Underwriting (Commercial) Limited offer a choice of insurers who can offer Comprehensive insurance policies as well as Third Party Fire and Theft to suit customers’ requirements. They are designed to provide financial protection for the business that owns the vehicle in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Businesses that own a van up to 3.5t GVW
Businesses based within Great Britain, Northern Ireland, the Channel Islands and the Isle of Man
Vehicles that require comprehensive or third-party fire and theft cover

Features & Benefits:

Cover is available for a variety of driving options including:

Protected No Claims Bonus
In Car Electronics, Audio & Navigation Equipment etc (up to £750)

Discounts available for:

Insured Only
Insured and Spouse
Insured and Named Drivers
Voluntary Excess Options
Introductory Discounts

Who the product is not suitable for?

Cars
Vehicles over 3.5t
Couriers
Any driver under 25
Any driver over 75

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Commercial Vehicle product review was completed 30th April 2023.

Product Review

The Commercial Vehicle product is scheduled for review in Q2 2024.

Courier

Target Market Statement

Jensten is the perfect home for your Courier insurance requirements. Reduce your administration and provide an excellent service to your clients with our instant quotes, point of sale documentation and vehicle registration lookup facility.

Jensten offer a courier scheme that can provide comprehensive insurance policies as well as third party fire and theft to suit the customers’ requirements in relation to the vehicle that they use for their work as a courier, haulage contractor or furniture remover. The scheme is designed to provide financial protection in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Businesses that own a van up to 3.5t GVW used for courier/haulage purposes or for furniture removal
Businesses based within Great Britain, Northern Ireland, the Channel Islands and the Isle of Man
Vehicles that require comprehensive or third-party fire and theft cover

Features & Benefits:

Vehicle values to £35,000 (£7,500 for third party, fire & theft)
Protected no claims bonus available (5+ Years)

Discounts available for:

Security and tracking devices
Voluntary excesses

Who the product is not suitable for?

Cars
Vehicles over 3.5t
Vehicles carrying hazardous goods
Drivers under 25
Drivers over 75
Vehicles valued at over £35,000

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Courier product review was completed 30th April 2023.

Product Review

The Courier product is scheduled for review in Q2 2024.

Fleet

Target Market Statement

Jensten offer a fleet scheme that can provide comprehensive insurance policies as well as third party fire and theft and third party only policies to suit the customers’ requirements in relation to the vehicles that they use in relation to their business. The scheme is designed to provide financial protection in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Businesses that own 2 or more vehicles
Fleet rated and NCD rated vehicles
Vehicles that are being used for the carriage of own goods or for
Haulage use for well-established haulage businesses
Rural taxi businesses

Features & Benefits:

Better client Service – Underwriting Flexibility – right quote and the right cover

Access to a number of insurers
Variable excesses
Optional driver restrictions
Statement of Fact transactions
Flexible Fleet cover
Own goods – Minimum 2 vehicles
Haulage – Minimum 2 vehicles
Fleet rated and NCD rated risks accommodated

Who the product is not suitable for?

Family fleets
Inner city taxi businesses
Newly established haulage businesses
Courier use
Self-drive hire
Waste and hazardous goods transportation

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Fleet product review was completed 31st January 2024.

Product Review

The Fleet product is scheduled for review in Q1 2025.

Special Types and Agricultural Vehicles

Target Market Statement

Jensten offer a special types scheme that can provide comprehensive insurance policies as well as third party only policies to suit the customers’ requirements in relation to agricultural and special type vehicles. The scheme is designed to provide financial protection in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Commercial customers requiring special types vehicle cover
Businesses who require any driver cover for the agricultural or special types vehicles
Businesses based within Great Britain, Northern Ireland, the Channel Islands and the Isle of Man

Features & Benefits:

Instant documentation and certificates all online
Statement of Fact, no proposal form required
Tailored cover to match your client’s needs
Any driver policy as standard (* subject to terms)
Green card cover available on referral
Voluntary excess options

Who the product is not suitable for?

Private individuals with no connection of a business
Multiple trades
Quad bikes used for anything other than agricultural farming

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Special Vehicles product review was completed 31st January 2024.

Product Review

The Special Vehicles product is scheduled for review in Q1 2025.

Truck

Target Market Statement

Jensten offer a truck scheme that can provide comprehensive insurance policies as well as third party fire and theft policies to suit the customers’ requirements in relation to the vehicle that they use in relation to their business. The scheme is designed to provide financial protection in the event of an accident which causes damage to the vehicle or another vehicle/person. Cover is also provided if the vehicle is stolen or suffers from arson.

Who the product is suitable for:

Businesses with vehicles from 3.6t – 44t
Haulage Contractors
Businesses requiring cover for carriage of their own goods

Features & Benefits:

A choice of insurers
Cover for both Carriage of Own Goods and Haulage use
Security Discounts for Cameras, Tracking Units and Immobilisers
Low starting excess of £250 with additional Voluntary excess options
Green card cover available on referral
Instant documentation and certificates all online
Statement of Fact, no proposal form required

Who the product is not suitable for?

Any vehicle not used in relation to business
Any vehicle that does not have an operator’s licence unless in interim phase or not legally required
Any driver under the age of 25
Any driver over the age of 69

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Truck product review was completed 30th November 2023.

Product Review

The Truck product is scheduled for review in Q3 2024.

Commercial Combined

Target Market Statement

Jensten offer a choice of insurers who can cover combined material damage (inc business interruption), liability, legal expenses and terrorism, underwritten on a bespoke basis. Cover can be provided up to a maximum MD sum insured of up to £10m and Employers and public/Products liability up to £10,000,000 limit of indemnity. This product caters for a vast variety of commercial businesses with over 1,000 acceptable trades.

Who the product is suitable for:

Commercial business domiciled in the UK wishing to arrange protection for their business assets
Those whose need cover up to a maximum sum insured of £10m and associated legal liabilities
Those with established businesses as well as those who have just started
Those operating out of premises that were built from 1800 onwards
Those operating out of commercial premises including warehouses and factories

Features & Benefits:

Wide acceptance of trades
Flexible underwriting approach to allow for bespoke requirements
Material Damage policies in isolation are available
Point of Sale Documentation
Combined Premiums from £1000.00

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Private individuals
Sole traders
Business operating in high hazard sectors, such as explosives, nuclear, aviation and safety critical automotive
With a minimum premium of £750, it is not suitable for micro business, generally with a turnover of less than £500,000
Grade 1/Category A/Grade A listed properties

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Commercial Combined product review was completed 29th February 2024.

Product Review

The Commercial Combined product is scheduled for review in Q1 2025.

Goods In Transit

Target Market Statement

Jensten will provide you with an instant quote and full point of sale documentation for your Goods in Transit business. With Jensten you will get great service and competitive rates.

Jensten offer a goods in transit scheme that offers cover for those transporting goods to protect them from financial loss should the goods that they are transporting be damaged following an accident during transit.

Who the product is suitable for:

Those who transport goods either on behalf of someone else or their own goods
Tradespeople looking to cover their tools while in transit in their own vehicle
Hauliers who need all risks or RHA cover
Hauliers requiring CMR cover
Those transporting refrigerated goods

Who the product is not suitable for?

Furniture removers
Vehicle transporters
Those working airside

Features & Benefits:

Tools cover includes a 20% co-insurance clause for theft or attempted theft from a vehicle outside of working hours, where the insurer will pay 80% of the loss/damage
Trailer Cover Extension
European cover available for Haulage and Freight
An economy product is available which excludes high theft risk goods
Extension available to cover refrigerated goods

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Goods in Transit product review was completed 31st May 2023.

Product Review

The Goods in Transit product is scheduled for review in Q2 2024.

Haulage Xtra (Combined GIT & Liability)

Target Market Statement

Jensten will provide you with an extremely competitive product which combines both Goods In Transit and Liability cover. Jensten offer a haulage xtra scheme that offers cover for haulage contractors and couriers to protect them from financial loss should the goods that they are transporting be damaged following an accident during transit, the scheme also offers public liability cover and employers’ liability for those businesses that have employees.

Who the product is suitable for:

Haulage Contractors
Couriers

Who the product is not suitable for?

Furniture removers
Carriage of own goods
Businesses that have more than 10 vehicles

Features & Benefits:

Cover under RHA or All Risks conditions of carriage
Carriage of goods under CMR catered for up to £350,000
Up to £100,000 cover for Theft Attractive Goods under All Risks
Cover for up to 10 Specified Vehicles per risk
Cover available to operate outside of the UK
Public Liability Limits – £2 million, £5 million or £10 million
Employers Liability Limit – £10 million
Temporary employee cover included if Employers Liability is selected (excluding mechanics, clerical staff and warehouseman)

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Haulage Xtra product review was completed 31st May 2023.

Product Review

The Haulage Xtra product is scheduled for review in Q2 2024.

Liability (Combined)

Target Market Statement

Jensten offer a choice of insurers who can cover Employers Liability up to £10,000,000 limit of indemnity and Public/Products Liability starting at £1,000,000 limit of indemnity and going up to £10,000,000. These schemes offer cover for those needing to cover their legal liabilities in relation to owning and operation businesses and we can place trades from market traders to engineers as we have a vast trade list with over 1,000 acceptable trades.

Who the product is suitable for:

Those who need cover for their legal liabilities to the public in relation to operating a business
Those who need to cover their legal liability for their employees
Those who need cover for their liability arising from the products that they manufacture or sell

Features & Benefits:

Standard Employers Liability Limit of Indemnity of £10,000,000
Public and Products Liability Limits of Indemnity starting at £1,000,000
Wide range of trade acceptability
Heat work and Height work cover available

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Heavy construction such as those involved in property demolition or underpinning
Those working with high hazard risks, such as working from significant height/depth, working with explosives, work around the aviation industry
Those working at high-risk locations such as on railways, airside, MOD bases

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Liability (Combined) product review was completed 31st March 2024.

Product Review

The Combined Liability product is scheduled for review in Q1 2025.

Land Liability Insurance

Target Market Statement

Jensten can provide cover for land owners for sums that they become legally liable to pay as damages including claimants’ costs and expenses in respect of:

Accidental injury to any person
Accidental physical loss of or physical damage to property
Obstruction, trespass, nuisance or interference with any right of way, air, light or water or other easement

Public liability limits from £1,000,000 to £10,000,000 can be selected to meet the insured’s needs

Who the product is suitable for:

Land owners including:

Land secured by electric gates
Land used for car parks
Land used for grazing
Land with play equipment situated on
Land with private garages on
Private Roads
Property Owners
Residents Association communal areas

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, The Channel Islands or the Isle of Man
Land which is not in Great Britain, Northern Ireland, The Channel Islands or the Isle of Man
Land being used for business purposes

Features & Benefits:

The scheme covers the land owners for all sums that they become legally liable to pay as damages including claimants’ costs and expenses in respect of:

Accidental injury to any person
Accidental physical loss of or physical damage to property
Obstruction, trespass, nuisance or interference with any right of way, air, light or water or other easement

Please note that if the land is being developed this policy does not provide any indemnity or benefit for any legal liability, directly or indirectly resulting from or in consequence of any demolition, building or construction works being undertaken on or around the Insured area of land as this responsibility lies with the contractor.

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Land Liability product review was completed 31st March 2023.

Product Review

The Land Liability product is scheduled for review in Q1 2024.

Liability (Hauliers / Couriers)

Target Market Statement

Jensten hauliers liability scheme offers cover for Employers Liability £10,000,000 limit of indemnity and Public Liability starting at £2,000,000 limit of indemnity and going up to £10,000,000. This scheme offers cover for those needing to cover their legal liabilities in relation to operating a haulage or courier business.

Who the product is suitable for:

Those who have a general haulage business
Those with a courier business

Features & Benefits:

Work in Europe acceptable without referral up to 15% of their turnover
Employers Liability cover is available for clerical staff, mechanics and warehouse staff as well as for the driver
Cover is provided for new start-ups as well as experiences businesses

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, the Channel Islands or the Isle of Man
Risks not domiciled in Great Britain, the Channel Islands or the Isle of Man
Policyholders and/or Risks domiciled in Northern Ireland
Furniture removers
Carriage of own goods
Businesses that have more than 15 vehicles

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Haulier Liability product review was completed 30th June 2023.

Product Review

The Haulier Liability product is scheduled for review in Q2 2024.

Liability (Motortrade)

Target Market Statement

The Jensten Motor trade scheme offers cover for Employers Liability of £10,000,000 and Public/Products liability for up to £5m. Service Indemnity is included and it covers a wide range of motor trade activities such as general mechanics, engine tuning, valeters and auto electricians and many more.

Who the product is suitable for:

Those who operate a business in the motor trade sector
Businesses with 1 year + experience
Businesses with a maximum of 10 manual persons

Features & Benefits:

Service Indemnity
Employers Liability Limit of Indemnity of £10,000,000
Public Liability Limits of Indemnity up to £5,000,000

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
A Policyholder who works at a shared premises
Newly established businesses
Any business that uses Bona Fide Sub Contractors

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Motor Trade Liability product review was completed 30th June 2023.

Product Review

The Motor Trade Liability product is scheduled for review in Q2 2024.

Liability (Per Capita)

Target Market Statement

The Jensten Liability per capita scheme covers a large and wide-ranging number of occupations for general tradesmen and professional occupations. The scheme offers cover for Public and Products Liability up to £5,000,000 and Employers Liability up to £10,000,000 for a vast number of trades. Additional covers available include tools, goods in transit, contract works, hired in plant and own plant.

Who the product is suitable for:

Businesses with up to 10 manual persons
New start-ups where the business owner has experience in the relevant trade
Businesses who need just the liability risks covered as well as those who require the additional covers such as tools

Features & Benefits:

Standard Employers Liability Limit of Indemnity of £10,000,000
Public and Products Liability Limits of Indemnity starting at £1,000,000
Wide range of trade acceptability
Heat work and Height work cover available

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Risks which require material damage cover
Businesses with more than 10 manual persons

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Per Capita Liability product review was completed 30th June 2023.

Product Review

The Per Capita Liability product is scheduled for review in Q2 2024.

Liability (Taxi)

Target Market Statement

The Taxi Operators’ scheme covers Employers’ Liability & Public Liability for up to £10m for businesses that are operating fleets of taxis.

Who the product is suitable for:

Taxi operators who require EL & PL cover for all of their activities both at their own premises and work away
Businesses with 1 vehicle as well as businesses with 100 + vehicles who do not require Employers Liability Cover
Businesses that require Indemnity to their local council to be included under their insurance policy

Features & Benefits:

Public Liability Limits of Indemnity up to £10,000,000
Minibuses and coaches can be accommodated depending on the size of the fleet
Indemnity to Principal included as standard

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Risks with a large number of minibuses or coaches

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Taxi Operators Liability product review was completed 30th June 2023.

Product Review

The Taxi Operators Liability product is scheduled for review in Q2 2024.

Professional Indemnity (Per Capita)

Target Market Statement

The Professional Indemnity scheme is designed to provide cover for the compensation costs and legal fees the insureds business is required to pay if a client accuses them of negligence and has suffered a financial loss.

Who the product is suitable for:

Businesses that need cover for advice that they have given
Businesses that have up to 10 fee earners

Who the product is not suitable for?

Business where there are more than 10 fee earners
Solicitors, architects, surveyors and anyone who requires cover under a Professional PI wording
Businesses based in Northern Ireland

Features & Benefits:

Limits of indemnity available up to £5,000,000
Professional indemnity cover is worldwide (excluding USA/Canada) for UK based businesses other than Northern Ireland
Ability to cover more than one trade type
Public Liability up to £5,000,000 can be selected
Employers Liability of £10,000,000 is available
Material damage cover is also available for office contents, portable equipment etc

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Professional Indemnity product review was completed 31st July 2023.

Product Review

The Professional Indemnity product is scheduled for review in Q3 2024.

Household

Target Market Statement

The Home Assure scheme is designed to provide financial protection for consumers home and contents, for a client that requires a comprehensive policy with the premium based upon the risk factors.
The product can cater for consumers that have personal circumstances or property features that makes it difficult to obtain insurance cover.

Who the product is suitable for:

The Home Assure scheme is suitable for standard household risks providing an automatic sum insured providing protection against inflation.
The product will also cater for non-standard including holiday homes, let properties, unoccupied properties, mixed residential occupancy, clients with adverse financial, or criminal history, and also properties that have difficult to place features such as subsidence & flood history.

Features & Benefits:

A household product with all the usual perils you would expect from a comprehensive insurance product, providing coverage on a bedroom rated basis for standard properties and also able to quote on a bespoke basis with non-standard features.
Standard sums insured of £750,000 Buildings and £75,000 for properties up to 5 bedrooms.
The ability to accept risks with a business element such Bed & Breakfast, Childminding, Holiday Homes and Working Farms.

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, the Channel Islands or the Isle of Man.
Properties with more than 10 bedrooms.
Accommodation without foundations such as Mobile Homes, Caravans & House Boats.
Properties that have a Thatch roof.
Registered Guest Houses.

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for informationThe complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Household product review was completed 31st July 2023.

Product Review

The Household product is scheduled for review in Q4 2024.

Property Owners

Target Market Statement

Jensten offers online quotes and point of sale documentation. The Jensten Property Owners scheme offers cover for Buildings and Contents for properties that are let out or unoccupied and can cater for portfolios of properties including those with mixed residential and commercial or unoccupied risks.
Cover is provided for buildings, loss of rent and property owners liability, additional covers include landlords’ contents, accidental damage, subsidence cover and legal expenses cover up to £100,000.

Who the product is suitable for:

Those who let their properties out
Those with unoccupied properties
Both residential let and commercial let properties

Features & Benefits:

Loss of rent included at 30% of the building sum insured
Property Owners Liability of £2,000,000 included as standard and can be increased to £5,000,000
Accidental damage cover for buildings and contents available
Varying levels of cover available for unoccupied properties including full perils

Who the product is not suitable for:

Properties not in Great Britain, Northern Ireland, The Channel Islands or the Isle of Man
Solely owner-occupied properties where no part is let out
Grade 1/Category A/Grade A listed properties
Properties built prior to 1800
Non-standard Construction

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Property Owners product review was completed 31st October 2023.

Product Review

The Property Owners product is scheduled for review in Q4 2024.

Food & Hospitality

Target Market Statement

Jensten offer a food and hospitality scheme that can provide a wide range of covers to those operating restaurants, fast food/takeaways, cafes, pubs, wine bars, fish and chip shops, and others involved in the food and drink industry. The policy covers all aspects of the business from business interruption to material damage cover as well as cover for their liabilities and the potential to add on covers such as legal expenses and seasonal increases.

Who the product is suitable for:

Those operating businesses in the food and drink industry such as restaurants, fast food/takeaways, cafes, pubs, wine bars, caterers, fish and chip shops
Businesses looking to insure their property as well as their liability exposures

Features & Benefits:

Business Interruption – £500,000 12 months indemnity period
Book Debts – £10,000
Goods in Transit – £1,000
Money – £5,000
Loss of Licence – £100,000
Frozen Food – £2,000
Glass/Signs/Blinds – £10,000
Employers Liability – £10,000,000
Public/Products liability – £2,000,000

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Private individuals who may provide casual catering services
For business whose catering income is ancillary to their main business, for example large hotels, gyms or theatres
Businesses who are operating out of a grade 1/category A/ grade A listed building
Businesses operating out of a thatched property

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Food & Hospitality product review was completed 30th November 2023.

Product Review

The Food & Hospitality product is scheduled for review in Q4 2024.

Antique Dealers / Shops

Target Market Statement

Jensten offer an Antiques scheme which offers cover for material damage and liability for businesses within the Antiques sector. The product includes cover for high value stock items, defective title.

Who the product is suitable for:

Commercial customers who trade in the antiques sector, including retailers, auction houses, restorers and galleries, typically with a stock sum insured of up to £2m
Businesses in the antique sector looking to cover the property that they own as well as their legal liabilities
Those operating in premises built after 1800

Features & Benefits:

Business Interruption – variable up to £750,000
Goods in Transit – £2,500
Money – £5,000
Glass/Signs/Blinds – £10,000
Employers Liability – £10,000,000
Public/Products liability – £2,000,000
Defective Title Cover
Process Cover

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Private individuals who may provide casual catering services
Businesses who are operating out of a grade 1/category A/ grade A listed building
Businesses operating out of a thatched property
Private individuals, including private collections
Business with extremely high value single articles (above £25,000) or high-level stock sums (above £10m)
Business where their main trade is not in the antiques sector, e.g. white good traders, generalist 2^nd hand retailers

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Antique product review was completed 31st August 2023.

Product Review

The Antique product is scheduled for review in Q3 2024.

Bed & Breakfast/Guest House

Target Market Statement

Jensten offer a Guest House product that is specifically designed for all proprietors of Guest Houses and Bed and Breakfast businesses with up to 15 rooms, which are normally occupied by the Insured overnight. The policy covers all aspects of the business from business interruption to material damage cover as well as cover for their liabilities and the potential to add on covers such as legal expenses and seasonal increases.

Who the product is suitable for:

Our policy is designed specifically for businesses operating in the B&B/Guest Houses sector
Businesses looking to insure their property as well as their liability exposures

Features & Benefits:

All usual perils are covered including Subsidence and Accidental Damage
Cover for private contents may be included up to 25% of the value of trade contents
Costs to repair landscaped gardens damaged by emergency services
Costs insured to trace the source of escaping water up to a maximum of £2,500
Accidental Damage to underground services pipes and cables up to £25,000
Cover for guests’ wedding and Christmas gifts to a maximum of £2,000
Loss of metered water following damage at the premises
Personal effects – Cover away from the premises anywhere in the world

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Private individuals who may provide casual catering services
Businesses who are operating out of a grade 1/category A/ grade A listed building
Businesses operating out of a thatched property

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Bed & Breakfast / Guesthouse product review was completed 30th November 2023.

Product Review

The Bed & Breakfast / Guesthouse product is scheduled for review in Q4 2024.

Terrorism

Target Market Statement

Terrorism insurance is purchased by property and business owners to cover their potential losses and liabilities that might occur due to terrorist activities and or an event where there is a denial of access to the premises.

An attack not only on, but near business premises, can result in human casualties, property damage, business interruption, legal liability issues and long-term damage to brand and reputation.

Who the product is suitable for:

Features & Benefits:

Damage and Non-Damage Business Insurance
Civil/Military Authorities closing off access to insured premise whether physical damage has occurred or not.
Loss of Utilities: Physical Damage has occurred within a 1-mile radius which has resulted in a business interruption loss to insured operations.
Emergency costs: An amount of money payable after four hours from which a property has become uninhabitable or inaccessible by an insured loss.
Public Relations Expenses: Employment of suitable public relations personnel to deal with press and public announcements after an insured loss.

Who the product is not suitable for?

Clients whom do not have an underlying policy for their business or property.
Occupancy linked to the Military, Government or any sort of Religion.
The proposer, business partner or director being domiciled outside the UK.
The proposer, business partner or director having adverse financial or regulatory history.

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Terrorism product review was completed 30th September 2023.

Product Review

The Terrorism product is scheduled for review in Q3 2024.

General Retail

Target Market Statement

Jensten offer a retail scheme that can provide a wide range of covers to general retailers. The policy covers all aspects of the business from business interruption to material damage cover as well as cover for their liabilities and the potential to add on covers such as legal expenses and seasonal increases.

Who the product is suitable for:

General Retailers and Salon Owners domiciled in the UK wishing to arrange protection for their business assets
Those with established businesses as well as those who have just started
Businesses looking to insure their property as well as their liability exposures

Features & Benefits:

Wide acceptance of trades
Flexible underwriting approach to allow for bespoke requirements
Point of Sale Documentation

Who the product is not suitable for?

Policyholders who are not domiciled in Great Britain, Northern Ireland, the Channel Islands of the Isle of Man
Risks not domiciled in Great Britain, Northern Ireland, the Channel Islands or the Isle of Man
Businesses who are operating out of a grade 1/category A/ grade A listed building
Businesses operating out of a thatched property

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The General Retail product review was completed 31^st August 2023.

Product Review

The General Retail product is scheduled for review in Q3 2024.

Contractors All Risks

Target Market Statement

Our Contractors Combined Insurance product is a comprehensive offering suitable for small to medium sized contractors that require insurance cover for Contractors’ All Risk, General Liabilities, Employers’ Liability, Plant & Equipment (hired and owned), Terrorism and Personal Effects (including employees) Tools.

Features & Benefits:

Additional Costs of Construction, Contract Works whilst in Transit, to, from, at or adjacent to a Site prior to Completion, and for a 24 Month Maintenance Period for Visits & Defects Liability.
Professional Fees, Debris Removal, Expediting Expenses, Increase in Contract Value, Offsite Storage, Documents, Public Authority Requirements, Principals, Show Property and Contents, Speculative Development, Testing and Commissioning.
Plant & Equipment Cover, Theft from unattended vehicles, Additional Property, Lifted Goods, Loss of Fuel, Own Surrounding Property and Recovering of Immobilised Plant.
General Liability, Asbestos accidental discovery, Buildings Temporarily Occupied, Contingent Motor Liability, Defective Premises Act 1972, Environmental Statutory Liability, Manslaughter Defence Costs, Temporary Business Trip Overseas.
Employers’ Liability, Manslaughter Defence Costs, Medical Treatment, Unsatisfied Court Judgements.

Who the product is suitable for?

Our Contractors Combined Insurance product is a comprehensive offering suitable for small to medium sized contractors that are looking insurance cover for Contractors’ All Risk, General Liabilities, Employers’ Liability, Plant & Equipment (hired and owned), Terrorism and Personal Effects (including employees) Tools all under one Policy.

Who the product is not suitable for?

Small Businesses seeking a premium below £3,500 + ipt.
Companies wanting to insure Plant in isolation.
This product is not suitable for business operating in high hazard areas, such as in the aviation industry, trackside of railways and incorporating offshore exposure and known asbestos risks.
A primary trade of Roofing, Cladding, Scaffolding contractors, Basement Retrofit Contractors or demolition contractors would not be acceptable.

The following information was assessed when reviewing the product:

A review of the claims information has taken place and no concerns have been raised in relation to the product value
A review of comparable products in the market has taken place and no concerns have arisen in relation to the coverage provided by this product in relation to the target market
The Distribution & Remuneration strategy has been reviewed and it has been confirmed that there are no conflicts of interest in our distribution and remuneration strategy
The Distribution & Remuneration strategy has been reviewed and it is confirmed that it does provide good value for the customer
We have undertaken extensive review of the typical remuneration in relation to distribution arrangements associated with this product and are content that the product provides fair value where distributor margin is not unreasonable
We have sufficient information to understand the services provided by each party in the distribution arrangements from those distributors who have responded to our requests for information
The complaints and value MI information has been reviewed and it is confirmed that they do not indicate a poor level of service that may impact the value of the product

Product Value Conclusion

The product assessment has taken into account:

The value of the product (including core and any add-ons)
The value of the distribution (commission, fees and any add-ons)
The value of the service

Taking these into account the product is delivering fair value.

The Contractors All Risks product review was completed 29^th February 2024.

Product Review

The General Retail product is scheduled for review in Q1 2025.

Business Complete

Target Market Statement

Jensten Underwriting provides you with a comprehensive product with the ability to tailor various covers to best suit your client’s needs by combining Per Capita Liability, Goods in Transit, Professional Indemnity, Material Damage, Contract Works, and Tools cover. With our professional service, you will get instant quotes and point-of-sale documents, and we will provide your client with a tailored solution suited to their needs.

Features & Benefits:

Over 500 acceptable trades, more trades available on referral
Liability Cover for companies with up to 15 employees on both PL & EL
Covers available for Established companies & New Ventures
Contract works up to £500,000
Tools Cover up to £5,000

Who the product is suitable for?

Policy holders domiciled in GB, NI, The Channel Islands and The Isle of Man
A wide-ranging number of occupations for general tradesmen and professional occupations seeking Professional Indemnity for up to 10 fee Earners, up to £3,000,000 Turnover although that is restricted for some trades to just £1,000,000 turnover
Cover for those transporting goods to protect them from financial loss should the goods that they are transporting be damaged following an accident during transit
Employers’ Liability and Public Liability for business with up to 15 employees
Liability for Hauliers’ for up to 15 Vehicles with a Maximum of 44-ton Gross Vehicle Weight

Who the product is not suitable for?

Policy holders domiciled outside the UK
Policy holders who require Employers Liability in isolation
Firms who work in Hazardous Locations
Clients who require Public Liability for Livestock Haulage
Policy holders who work in the Aviation or Marine industry, or work Airside or Offshore
Firms who partake in demolition works

Product Review

The Business Complete product is scheduled for review in Q3 2024.

Commercial

Liability

Motor

Personal Lines

Property

Run off Products

Product Oversight and Governance

Table of Contents (click on the relevant Product link below)

Caravan

Motorhome

Commercial Vehicle

Courier

Fleet

Special Types and Agricultural Vehicles

Truck

Commercial Combined

Goods In Transit

Haulage Xtra (Combined GIT & Liability)

Liability (Combined)

Land Liability Insurance

Liability (Hauliers / Couriers)

Liability (Motortrade)

Liability (Per Capita)

Liability (Taxi)

Professional Indemnity (Per Capita)

Household

Property Owners

Food & Hospitality

Antique Dealers / Shops

Bed & Breakfast/Guest House

Terrorism

General Retail

Contractors All Risks

Business Complete

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