Source Insurance has welcomed Prestige Underwriting, specialist non-standard MGA, to its home insurance panel as the first underwriters of its new common-worded insurance product – Source Home.

Prestige Underwriting specialises in non-standard property insurance, covering a range of risks across the UK.

Source Home is the first home insurance product created by the team at Source Insurance.

Carl Oakes, sales and marketing director at Source Insurance, said: “For the last few months, we have been working closely with the team at Prestige Underwriting. It’s an exciting moment for us as we now bring this new product to the adviser market with a provider who has exceptional brand recognition and respect in the industry.

“The new product focuses on enhancing choice, quotability and competitiveness at a time where consumers need this the most. The onboarding of Prestige Underwriting is part of a series of proposition enhancements all designed to help partners seamlessly promote quality insurance products to customers and I’m looking forward to announcing further enhancements and partnerships over the coming months.”

Tim Baxter, head of broker development at Prestige Underwriting, added: “We are delighted to embark on a new trading partnership with Source Insurance and to support the launch of their newly developed common worded home proposition. Our household proposition is unique in its design and risk appetite, and we are very pleased to offer Source customers a solution that provides choice when it comes to cover requirements for extraordinary risks including occupancy status, construction and usage, to name a few.

“The launch of Prestige Underwriting onto the panel is testament to the collaboration and investment by both parties and we look forward to enjoying a long and mutually beneficial relationship.”