Motion Specialty Gains Lloyd’s Coverholder Status for Niche U.S. Homeowners and Flood Insurance
Motion Specialty has been approved as a Lloyd's of London coverholder, underwriting niche insurance products through Lloyd's Syndicate 1301 managed by Inigo Ltd. Founded by Dan Alpay and Alex Kickham, and supported by wholesale broker Johnson and Johnson, the firm focuses on High Value Homes and standalone Flood insurance, primarily using a wholesale-to-wholesale distribution model.
This new underwriting venture combines cutting-edge technology and advanced data analytics to better navigate complex risk landscapes and regulatory challenges, especially in flood insurance and high-value homeowner coverage. The Lloyd's coverholder status provides Motion Specialty with enhanced credibility and access to global market capacity, imposing high standards of underwriting discipline and service.
The partnership aims to address evolving market demands driven by outdated risk models and limited product options, particularly for flood insurance beyond government-backed programs. This highlights a trend towards digital platforms and data-driven underwriting in specialty insurance, positioning Motion Specialty to offer more tailored solutions to brokers and insured clients.