Founded in 2024, Addept provides a wide range of ancillary insurance solutions designed to meet the evolving needs of customers while supporting brokers and intermediaries in a changing regulatory environment.
The first two products in the new LEI suite are Rent Protect Essentials and Officers’ Legal Protection. Rent Protect Essentials offers a low-cost legal expenses and rent guarantee insurance tailored for landlords and aligned with the forthcoming Renters’ Reform Bill. Officers’ Legal Protection is a dedicated and enhanced legal expenses product designed specifically for police officers and their families.
A key feature of the products is the launch of Addept’s digital claims portal, which allows policyholders to submit claims easily using mobile devices. Addept has already secured distribution agreements for both offerings. Officers’ Legal Protection is now available to more than 50,000 members of the Police Federation in England and Wales, representing over 35 per cent of total membership, while Rent Protect covers more than 4,000 residential tenancies.
Capacity for the products is provided by Irwell Insurance Company, an AM Best B++ rated specialist in legal expenses and liability cover. Richard Finan, Managing Director of Addept Insurance, described the move into LEI as a natural progression. He noted that the market has faced challenges including limited customer understanding and regulatory focus on fair value, but highlighted his team’s extensive experience and innovative approach as key advantages.
“The initial response from the market has been very positive and we have already secured several contracts with MGA and broker partners,” Finan said. He also praised Irwell Insurance as a capacity provider that shares Addept’s commitment to delivering high-quality products through a variety of distribution channels.
Giles Reading, Chief Executive of Irwell Insurance, welcomed the partnership and emphasised the shared expertise and focus on innovation. AM Best recently revised its outlook for Irwell Insurance from stable to positive for the Long-Term Issuer Credit Rating while affirming the Financial Strength Rating of B++.
Looking ahead, Addept Insurance plans to expand its legal expenses portfolio during 2025 with new products across the leisure, personal, motor and SME sectors. Finan stated that the company’s independence and hybrid operating model will continue to enable collaboration with a broad range of capacity, distribution and strategic partners, ensuring that future products deliver value and address gaps in the market.
