OnTheMarket has joined Simply Business as an Introducer Appointed Representative (IAR) which will allow it to introduce four new insurance products to the portal’s agent customers.

The Professional Indemnity Insurance product covers agents in circumstances where their client loses money as a result of negligent advice, services or designs. This insurance covers legal fees and compensation payments if a client loses out financially or professionally and is available in multiple bandings.

LIABILITY

The second product, Public Liability Insurance, is designed to protect a business against third-party claims for injuries or property damage from a client to a passer-by or visitor to the work premises whether the business is at fault or not.

Meanwhile, the Business Contents Insurance product covers the cost of replacing equipment and furnishings in the agents’ business premises if they are lost, stolen or damaged.

REQUIREMENT

The Employer’s Liability Insurance product, which is a legal requirement for most UK employers, is designed to protect agents and their employees if they are injured or become unwell as a result of working for their agency and covers the associated legal compensation costs and damages.

Julie Emmerson (pictured), Head of Agent Commercial Partnerships at OnTheMarket, says: “Given that agent costs will be increasingly under the microscope over the next year, we wanted to make sure that we were able to provide some flexibility to our members.”

Rory Merriman, Head of Partnerships at Simply Business, adds: “Finding new and innovative ways to support UK SMEs is of paramount importance, particularly in the current climate.”

The four insurance products are underwritten by Simply Business MGA (Managing General Agent) and provided through Simply Business.