The British Insurance Brokers’ Association (Biba) has announced it is working with Magenta Insurance to provide members with an Escape of Water (EOW) scheme.
According to Biba, Magenta, which is part of the inet3 Group, takes a two-pronged approach.
Firstly, it uses leak detection technology (Waterlock) to protect policyholders and help prevent claims. Secondly, it offers flexible underwriting of household insurance with discounts for customers using the technology.
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