PRODUCT OVERSIGHT & GOVERNANCE
At NBS Underwriting we have a comprehensive Product Oversight and Governance Policy in place. This page contains the target market statements and fair assessment outcomes for each product.
Target Markets and Fair Value Assessment Outcome
Our policy outlines our approach and demonstrates how we design, monitor & review all our products to ensure they continue to provide fair value and meet the needs of our target markets.
Read our Product Oversight and Governance Policy in full.
Product Oversight & Governance Policy
Target Market Statements
We have Target Market Statements for each of our products. This provides information to help our brokers identify the market for which the insurance product is intended.
Fair Value Assessment Outcomes
For all products we have a Fair Value Assessment Outcome. These detail how and what we have assessed and the outcome for each product. The assessments consider:
- The value of the core insurance product’
- The value of any additional products’
- The overall price of the package taking into account our distribution arrangements’
You will find our Target Market Statements and Fair Value Assessment Outcomes below.
Target Market Statements and Fair Value Assessment Outcomes
- Commercial
- Personal
This information is intended for insurance professionals only and not intended for distribution to the public.
SME Package
Business in the UK Food and Leisure sector including: Hotels, Cafés, Restaurants, Takeaways, Fish & Chip Shops, Retail, Pubs, Nightclubs and Bars.
Insurer: Hadron UK Insurance Company Limited
SME Package
Business in the UK Food and Leisure sector including: Hotels, Cafés, Restaurants, Takeaways, Fish & Chip Shops, Retail, Pubs, Nightclubs and Bars.
Insurer: Accelerant Insurance Europe SA
Petrol Stations
Designed for customers involved in the retail of petrol and other associated items.
Insurer: Hadron UK Insurance Company Limited
Petrol Stations
Designed for customers involved in the retail of petrol and other associated items.
Insurer: Accelerant Insurance Europe SA
Hair & Beauty
Designed for customers who provide hair & beauty treatments.
Insurer: Hadron UK Insurance Company Limited
Hair & Beauty
Designed for customers who provide hair & beauty treatments.
Insurer: Accelerant Insurance Europe SA
Sports, Gyms and Social clubs
Designed for Members Clubs, non-profit organisations run by committees or trustees including: Working Mens Clubs, Sports Clubs, Political Clubs.
Insurer: Hadron UK Insurance Company Limited
Sports, Gyms and Social clubs
Designed for Members Clubs, non-profit organisations run by committees or trustees including: Working Mens Clubs, Sports Clubs, Political Clubs.
Insurer: Accelerant Insurance Europe SA
Third Sector, Communities & Not-for-profit
Designed for customers in the charitable & not for profit sectors.
Insurer: Hadron UK Insurance Company Limited
Third Sector, Communities & Not-for-profit
Designed for customers in the charitable & not for profit sectors.
Insurer: Accelerant Insurance Europe SA
Target Market Statement – Third Sector, Communities & Not-for-profit
Fair Value Assessment Outcome – Third Sector, Communities, & Not-for-profit
Property Owners
Designed for clients with both commercial and residential portfolios of property.
Insurer: Hadron UK Insurance Company
Property Owners
Designed for clients with both commercial and residential portfolios of property.
Insurer: Accelerant Insurance Europe SA
Contractors Combined
Designed for contractors working from their own premises and at third party locations.
Insurer: Hadron UK Insurance Company Limited
Contractors Combined
Designed for contractors working from their own premises and at third party locations.
Insurer: Accelerant Insurance Europe SA
Care Homes
Designed for clients owning and running care homes for the elderly.
Insurer: Hadron UK Insurance Company Limited
Care Homes
Designed for clients owning and running care homes for the elderly.
Insurer: Accelerant Insurance Europe SA
Domiciliary Care
Designed for clients owning and running care services for the elderly.
Insurer: Hadron UK Insurance Company Limited
Domiciliary Care
Designed for clients owning and running care services for the elderly.
Insurer: Accelerant Insurance Europe SA
Professional Indemnity (PI)
Professional Indemnity Insurance. Designed for clients that provide professional services, advice, or designs to their customers to reduce the risks associated with providing professional services.
Insurer: Hadron UK Insurance Company Limited
Professional Indemnity (PI)
Professional Indemnity Insurance. Designed for clients that provide professional services, advice, or designs to their customers to reduce the risks associated with providing professional services.
Insurer: Accelerant Insurance Europe SA
Commercial Combined
Commercial Combined Insurance is to enable customers to manage and reduce the risks associated with the management of the running of a UK commercial business.
Insurer: Hadron UK Insurance Company Limited
Commercial Combined
Commercial Combined Insurance is to enable customers to manage and reduce the risks associated with the management of the running of a UK commercial business.
Insurer: Accelerant Insurance Europe SA
Excess of Loss Liability
Excess of Loss Liability Insurance is designed to increase the public liability limit of indemnity providing additional cover beyond that offered by any primary insurance policy.
Insurer: Allied World Assurance Company Ltd
This information is intended for insurance professionals only and not intended for distribution to the public.
Home & Contents Plus
A retail product suitable for household owners of private homes within the UK. This is designed for people who are domiciled in the UK.
Insurer: Hiscox Underwriting Ltd
Home & Contents Plus
A retail product suitable for household owners of private homes.
Insurer: HCC International Insurance Company plc
Home & Contents Plus
A retail product suitable for household owners of private homes within the UK. This is designed for people who are domiciled in the UK.
Insurer: AXA Insurance UK plc
Contents plus
A retail product suitable for household owners of private homes within the UK, who are looking to cover their personal contents.
Insurer: Hiscox Underwriting Ltd
contents plus
A retail product suitable for household owners of private homes who are looking to cover their personal contents.
Insurer: HCC International Insurance Company plc
Contents plus
A retail product suitable for household owners of private homes within the UK, who are looking to cover their personal contents.
Insurer: AXA Insurance UK plc
Business home
A retail product suitable for household owners of private homes who also carry out an element of business from the home.
Insurer: Hiscox Underwriting Ltd
Business home
A retail product suitable for householdowners of private homes who also carry out an element of business from the home.
Insurer: HCC International Insurance Company plc
Business home
A retail product suitable for household owners of private homes who also carry out an element of business from the home.
Insurer: AXA Insurance plc
Holiday home/holiday let
A retail product suitable for property owners and investors, limited companies, and other incorporated organisations within the UK, who own property from which they either occupy as a second home or commercially let for short stays.
Insurer: AXA Insurance UK plc
holiday home/holiday let
A retail product suitable for property owners and investors, limited companies and other incorporated organisations who own property from which they either occupy as a second home or commercially let for short stays.
Insurer: HCC International Insurance Company plc
Mid net worth (non-standard)
A retail product suitable for Mid Net Worth household owners or private tenants of private homes who may also have collections, jewellery and fine art.
Insurer: AXA Insurance UK plc
Mid net worth (non-standard)
A retail product suitable for Mid Net Worth household owners or private tenants of private homes who may also have collections, jewellery, and fine art.
Insurer: HCC International Insurance Company plc
residential let
A retail product suitable for property owners who own property within the UK from which they earn a rental income.
Insurer: AXA Insurance UK plc
residential let
A retail product suitable for property owners who own property from which they earn a rental income.
Insurer: HCC International Insurance Company plc
Unoccupied Residential
A retail product suitable for property owners who own a property which is unoccupied.
Insurer: HCC International Insurance Company plc
Sub let plus
A retail product suitable for tenants who sub-let their property either full term or on a short-term basis.
Insurer: HCC International Insurance Company plc
Unoccupied Commercial
A product suitable for property owners who own a commercial property which is unoccupied.
Insurer: HCC International Insurance Company plc