The British Venture Capital Association (BVCA) is to offer Lorega’s loss recovery insurance (LRI) to its members via its Advantage platform.
The deal will enable BVCA’s 500 members to purchase Lorega’s home and business LRI products quickly online via BVCA Advantage, a platform for insurers and other service providers to offer preferential terms to members.
Lorega created the LRI policy over 25 years ago. It pays the cost of an independent and Financial Conduct Authority authorised loss adjuster to help clients quickly prepare, negotiate and secure a fair settlement for their insurance claims following a loss.
The BVCA’s membership includes over 230 private equity and venture capital houses with an accumulated total of more than GBP200bn funds under management, limited partners, professional advisers, service providers and international associations. They work together to provide capital and expertise to growing businesses, to unlock potential and to deliver enhanced returns to the millions who directly and indirectly invest in the industry.
Neill Johnstone, Lorega’s managing director, says: “The recent storms have shown the considerable damage the UK’s weather can cause to both business premises and private properties. By providing the BVCA’s members with access to easy to buy Loss Recovery Insurance we will now be on hand within 24 hours to help these very busy executives if they experience a property or business interruption claim.”