General insurance wholesaler Berkeley Alexander has launched its BA Power System. A dedicated online service which offers IFA’s and brokers the ability to access and compare a wide range of commercial property insurance products online from a panel of leading insurers.
Geoff Hall, Managing Director at Berkeley Alexander, says:
“The landlord and commercial property GI market is huge but up until now it has been dominated by insurance intermediaries.
“The BA Power System levels the playing field and allows mortgage brokers and IFA’s the opportunity to take a slice of this lucrative market and at the same time having access to policies specifically designed for the property investor – whether they be residential buy to let or commercial and for either individual properties or for a block portfolio.”
Low interest rates in recent years have made the purchase of commercial properties, such as residential buy-to-lets, office buildings, blocks of flats or shops, increasingly popular to the UK investor. Indeed buy-to-let mortgages alone accounted for around 13% of all mortgages sold in the UK in 2011.
According to DataMonitor, the commercial property insurance market in the UK is worth approximately £60 billion. It is therefore important that IFA’s and mortgage brokers have the best tools at their disposal to advise investors on the most appropriate cover for their individual requirements quickly and easily.
Geoff Hall continues:
“The BA Power System allows mortgage brokers and IFA’s to add to the range of services they offer clients and deliver competitive insurance solutions for all types of commercial property.
"A win-win solution for agents and investors, especially in the current tough economic climate when costs continue to rise for commercial property owners and they are turning to their advisors to find ways to lower overheads and ensure a good return on their investment.”
