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March 2006 saw Commercial Express unveil CX Portfolio a property owners facility designed for landlords with 5 or more properties.
Duncan Pritchard, managing director of Commercial Express said “Commercial Express have traditionally only appealed to the small landlord but with the launch of CX Portfolio we are now able to cater for risks of unlimited size. Over the next 12 months we will be specifically targetting quality portfolio business”.
CX Portfolio rates start at 0.12p for residential and 0.15p for commercial but on referral these rates can be further reduced.
Underwritten by Markel International, CX Portfolio is unlike other property owners products in that it is rated dependent on loss ratio and not the number of properties. The only other requirement is that at least 50% of the properties must be tenanted by professional and / or student tenants in respect of CX Portfolio (residential) and Class A for CX Portfolio (Commercial).
Furthermore loadings have been removed for age of buildings, individual flats and grade II listings.
CX Portfolio uses the existing CX Let & CX Commercial policy wording and key facts.
Whilst CX Portfolio is currently not available online, agents can request a copy of the CX Portfolio rates and underwriting criteria by e-mailing business@ceqonline.co.uk. Alternatively agents can fax their property owners’ quotations on 01384 829983.
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