Part of this work includes reviewing some of our policy wordings to bring a greater degree of clarity and understanding for our customers. On top of this, the Covid-19 pandemic has brought about changes in the global insurance and reinsurance markets. In light of all these factors, we have accelerated our review and are making changes to parts of our core policy wording.

Specifically, we are looking at introducing a new policy-level disease exclusion, and making revisions to our Business Interruption extensions. This will include moving to a specified diseases basis where a customer chooses to select this cover. Alongside this, we are updating the terminology for Cyber cover, including additional clarity around subsequent damage.

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What you need to know about the changes

  • The etrade policy wordings were amended in December 2020 to reflect the changes
  • We have issued a revised Notice To Policyholder which will replace the version we implemented in April 2020.  You will need to send this to customers for all Renewal and New Business Transactions
  • You can find the revised Notice to Policyholder via the Rating Note on RSAOnline, your software house or on our product pages online
  • The Notice To Policyholder will be applicable to Properties, Shop (including Hair & Beauty), Office (including Health & Medical), Pubs, Hotels & Restaurants, Business Combined and now includes Tradespeople and Homeworkers 

As per our previous communication in December, these changes were reflected for all transactions (New Business and Renewals) made after the 18th December.

The reinsurance position particularly is rapidly evolving, so it is likely that the changes we’ve outlined here will be built on as the picture from those parties emerges more clearly.

We have updated our FAQs to help answer specific questions but, as ever, please get in touch with your usual contact if you have any additional queries.