Tigon Cover Services Limited (Tigon) is the name of RCOK Insurance Group’s (ROCK) new underwriting agency, which will provide travel insurance products to the UK travel and broker markets. ROCK explains that the Tigon ‘challenges the status quo to deliver results to its clients and business partners alike and offers a personalised experience for brokers’.
“We are delighted to launch Tigon Cover Services Limited as its majority stakeholders,” said Antony Martin, Managing Director at ROCK. I have worked closely with Ashley [Millington, Director at Tigon] for years and know that he and the team share the same core values as ROCK in their determination, confidence and trustworthiness, so brokers will be in great hands. Tigon’s insurance products will be vital to the travel trade as it starts to recover from the pandemic. We look forward to diversifying our product range beyond just travel insurance through our affiliation with them.”
The insurance products that Tigon currently underwrites for the travel sector and broker market are:
- Covid-19 Cancellation Cover for Tour Operators, which is offered to travel companies who take the cover out to ensure they can protect their customers’ money if their customer cannot travel due to Covid-19.
- Cancellation Cover, including Covid-19 for consumers, which is offered to travel companies who take the cover out to ensure they can protect the customers’ money if their customer cannot travel due to Covid-19 and wider cancellation perils such as accident, illness, fire or flood, redundancy etc., with an option of a benefit for Covid-19 hospitalisation in resort.
- Travel Insurance, whichincludes medical cover up to £10 million, cancellation cover up to £5,000, personal possessions cover up to £3,000, optional cover for golf, winter sports and more and medical screening available for pre-existing conditions.
The latter travel insurance product also provides cover for: cancellation costs if a customer tests positive for Covid within 14 days of their trip, cancellation costs if a customer is hospitalised, cover if they are denied boarding due to Covid-19, cancellation costs if accommodation closes, cover extension if a customer has to self-isolate following a diagnosis abroad, and cover for single trips within Europe if the UK Foreign, Commonwealth and Development Office’s advice changes for a destination due to Covid-19 before travel.
Price is not the only important criteria for the purchase of travel insurance
Millington added: “We are delighted to launch our underwriting agency. We pride ourselves on the experience of underwriting along with swift responses and rated security – it is our ambition to provide a truly compelling solution for the insurance industry. The stakeholders of ROCK have a vast amount of experience within the insurance market, and have a good track record to support this, so we are thrilled to have their backing and expertise. Our success is dependent on our staff and our brokers convincing clients and prospective clients that price, although important, is not the only criteria for the purchase of insurance. We look forward to building successful partnerships in the broker market."
In February, Americas-based Arch Insurance launched a new platform that enables brokers to price and sell business travel insurance policies.