Product of the Month - Residential management insurance

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Product: Residential Block Management: company directors and officers liability insurance

Underwriter: Royal & Sun Alliance

Commission Paid: Up to 20% available, however the level of commission varies according to volume of business

Minimum Premium: £150 secures £250,000 indemnity limit up to 25 flats

Excess: Nil

Coverage: Comprehensive protection against personal liability covering losses arising from claims brought against directors and officers of a residential block management company for

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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