Product Oversight and Governance

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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

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

Taking these into account the product is delivering fair value.

The Commercial Vehicle product review was completed 30th April 2024.

Product Review

The Commercial Vehicle product is scheduled for review in Q2 2025.

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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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.

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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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.

Motortrade Liability

Target Market Statement

Jensten Underwriting’s Motortrade Liability product 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 a maximum of 15 manual persons
• Businesses with 1 year + experience

Features & Benefits:

• Service Indemnity
• Employers Liability Limit of Indemnity of £10,000,000
• Public Liability Limits of Indemnity up to £5,000,000
• Minimum one year trading experience required
• Portable business equipment up to £30,000
• Dual Trade occupations possible
• Goods in transit up to £10,000
• Tools cover to £5,000

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

Product Review

The Motor Trade Liability product is scheduled for review in Q1 2025. 

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:

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

Taking these into account the product is delivering fair value. 

The Household product review was completed 31st May 2024.

Product Review

The Household product is scheduled for review in Q2 2025.

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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

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

Taking these into account the product is delivering fair value.

The Antique product review was completed 31st August 2024.

Product Review

The Antique product is scheduled for review in Q4 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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

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.

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:

1. The value of the product (including core and any add-ons)
2. The value of the distribution (commission, fees and any add-ons)
3. 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:

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

Taking these into account the product is delivering fair value. 

The General Retail product review was completed 31st August 2024.

Product Review

The General Retail product is scheduled for review in Q3 2025.

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:

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

Taking these into account the product is delivering fair value. 

The Contractors All Risks product review was completed 28^th February 2024.

Product Review

The Contractors All Risks 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 Value Conclusion

The product assessment has taken into account:

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

Taking these into account the product is delivering fair value.

The Business Complete product review was completed 31st July 2023.

Product Review

The Business Complete product is scheduled for review in Q3 2025.