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CX Let rate now 0.14%
Commercial Express is delighted to announce that with effect from the 4th September CX Let, CX Commercial & CX Portfolio will be underwritten by Navigators Insurance Company Limited.
The Navigators Group are rated ‘A’ (Excellent) by A.M. Best Company and ‘A’ (Strong) by Standard & Poors.
Navigators are committed to the principles of underwriting excellence and to providing quality service to Commercial Express, its agents and policyholders.
As a result of Commercial Express moving its property owners’ schemes to Navigators we have been able to improve the facilities considerably:
- CX Let & CX Portfolio (Residential) Commission now 20%
- Properties tenanted by professionals and / or students rate reduced to 14p
- CX Portfolio (Residential) rates now start from 10p
Further enhancements include the removal of the grade II loading and the widening of the wording to include impact damage to walls, fences and gates. The tenancy dispute statement has been relaxed and the administration fee for manual arranged policies has been reduced from £30 to £15.
The CX Portfolio facility is no longer rated according to the loss ratio but instead the rate is dependent on the number of properties subject to the qualifying criteria. A 10p rate can benefit risks with 11 or more properties and a 12p rate is now available for risks with 5 to 10 properties.
The CX Let optional cover “Landlords Legal Expenses” is now underwritten by Norwich Union and the policy cover has been improved so to include cover for pursuit of rent arrears, cover to evict tenants & landlords legal defence cover against both civil and criminal proceedings. For the first time manually arranged policies can be extended to include legal expenses & emergency assistance cover.
Claims will continue to be handled by Claims Management Group Ltd (CMGL), the contact details remain unchanged including the claims telephone number.
We are confident that the move to Navigators will produce greater flexibility and prove to be financially more rewarding for both policyholder and Commercial Express agent. Navigators Insurance Company Limited has also granted risk transfer & co-mingling to all Commercial Express agents.
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