Chapman & Stacey U/W pledge to price match LV= business on Open GI Powerplace.
MGA Chapman & Stacey to support Powerplace brokers following LV's withdrawal.
Sussex based MGA Chapman & Stacey have struck a deal to support the Food, Pub & Hotel business currently being traded on Open GI Powerplace in the wake of LV=’s announced exit from the comparison platform this year.
“Powerplace approached us looking to support their brokers following LV’s withdrawal. As established product providers to Powerplace & their brokers, we were happy to agree to flex our underwriting appetitive to provide continuity of pricing and cover for the brokers and their clients.
Since LV’s announcement, we have seen strong growth in our market share of this type of business, and we are pleased to support Powerplace and its brokers in this way.
Restaurants, Pubs and Hotels within their broad underwriting strategy can be bound at last year’s expiring rate upon referral. Any risks falling outside of that criteria Chapman & Stacey will strive to accommodate with the best terms available.