Lancashire insurance firm among first to offer unemployment cover once more

A Lancashire insurance company has said demand for insurance against unemployment has increased.

By Tim Gavell
Wednesday, 23rd March 2022, 12:30 pm

3XD, which has its offices at the Hall Arms Business Centre, Clitheroe Road, Knowle Green, near Longridge, said it had become one of the first insurance providers to move back into the unemployment market, two years after the pandemic led to it being universally withdrawn.

It said the Accident and Sickness elements of ASU cover were already back on the market – 3XD re- introduced it in August 2020 - but the third element of that cover, Unemployment, was still not widely available.

Chris Baron, head of marketing and distribution for 3XD, said they have seen an immediate demand for the cover since they started to offer it earlier this month.

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Chris Baron of 3XD insurance

He said: “There is great demand within ASU for the Unemployment element, and we’ve worked hard with our underwriters to reinstate it.

“We’re very early back into the market with it, one of the first, and it’s been hugely welcomed. We’ve seen a very quick and positive response with strong sales and quotes.

“People still have a lot of concerns about job security, and this is an important product that can help to give them peace of mind.”

3XD, has around 20 staff and offers a range of General Insurance products through financial intermediaries. It is part of Global Risk Partners Limited, one of the UK’s top three insurance intermediary groups, following its acquisition in July 2019.

At the time GRP’s underwriting chief executive Clive Nathan, said: “3XD is renowned for its range of customer-centric products, and its state of the art trading system.”

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