Hood Group has announced a partnership with Lloyd's Syndicate 4444, managed by Canopius Managing Agents. The partnership covers the mortgage payment protection insurance provided by Hood's "Select & Protect" brand, which mainly distributes general insurance products through mortgage intermediaries and IFAs.
Many mainstream mortgage lenders have steered clear of offering MPPI products in recent years, but they continue to be marketed by many mortgage brokers and IFAs. As well as through Select & Protect, MPPI is also provided by its direct competitors including Uinsure (also underwritten by Canopius) and Paymentshield (underwritten by Covea).
Select & Protect's MPPI product was previously underwritten by Aviva and Davies Managed Systems will now be responsible for all new claims.