The Association of British Insurers has teamed up with insurer RSA and broker Marsh to bring together housing providers from councils and housing associations at an event in the North East, with the aim of widening access to home contents insurance.
‘Insurance with Rent’ is a scheme under which tenants can access affordable home insurance, paid for weekly, fortnightly or monthly alongside their rent. Local authorities and housing associations run the schemes and collect premiums at the same time as collecting rent.
The aim of this event is to bring together expertise from the insurance, housing and local government sectors to share good practice and generate ideas to encourage a higher take-up by residents. The event is part of the Association of British Insurers’s (ABI) broader initiative to address the barriers to financial inclusion.
James King, assistant director of markets and regulation at ABI, said: For people on low incomes, buying insurance is sometimes not a priority. However, it is often the most vulnerable who can benefit the most from insurance. The aim of this event is to share information about how we can all serve this section of society better in order to protect them against risk that they cannot otherwise manage.