Dear Broker
From September 2022 the indexation adjustment applied on our Trademark, Apartment Block, Pub, Property Owners and Retail Warehouse moved from +1.5% to +8% for relevant property sums insured and from 0% to +2% for liability wages/turnover.
Indexation increases were applied to the Office and Shop (US) renewals from October 2022.
We now wish to advise that indexation increases are being applied to the Fast Trade products:
- Shop and Salon renewals from 3 April 2023
- Office and Surgery renewals from 15 May 2023
Products
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Prefix
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Relevant Covers and Increases
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Office and Surgery
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AO
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- Property – Contents, Computers, Tenants Improvements, Business Records, Stock in trade and Buildings +8%
- Money, GIT, Business Interruption and Liabilities 0%
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Shop and Salon
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AS
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- Property – Contents, Stock, Tenants Improvements, All other Contents, Glass, Frozen Foods and Buildings +8%
- Money, Business Interruption and Liabilities 0%
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Customers should review their individual policies at renewal
However, this generic approach by Aviva does not take account of the significant differences in profile of each individual customer’s property and liability exposures. For this reason, we would strongly recommend that you continue to review sums insured, wages and turnover figures at each renewal with your customers.
If you have any questions about these changes, please contact your Aviva Business Development Manager.
Thank you for your continued support.
Yours sincerely,
Stephen McGerr Sales Director
Aviva Insurance Ireland DAC
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