Source teams up with Modus

11 January 2016

Source Insurance, the specialist general insurance broker has added specialist managing general agent, Modus, to its panel.  Independently owned, Modus is backed by a number of Lloyd’s underwriters.

Modus will be making its Novus Plus product available on the Source panel, further extending the panel’s non-standard footprint, something that is becoming increasingly important in today’s highly competitive market.

Novus Plus is designed to cover a wide range of properties, property usages, and policyholders. These include homes with up to six bedrooms, properties undergoing extensive renovation and construction work up to £250,000 in value, non-standard construction, listed or protected buildings, underpinned properties and holiday and weekend homes.

Policyholders with business use at home, unoccupied properties, policyholders with previous bankruptcy, IVAs or CCJs and policyholders with previous convictions or previous claims will be considered.

Kevin Paterson, MD of Source Insurance said, “We are committed to offering the largest range of non-standard online products to further complement our large panel of competitive household and landlord products and as such Modus is a great fit. Not only does Novus Plus offer real value for money cover across a wide range of diverse risks but the team at Modus are experienced in e-trading with a fresh and innovative approach.”

Modus Director Scott Banks added, “Source Insurance has honed in on the fact that more and more properties and their owners fall outside the standard box, so represent an important distribution channel for our Novus Plus product. We’re delighted to join their panel and give their intermediaries access to a fresh non-standard option for their clients.”