MGA Avid Insurance Services has launched an A-rated GAP product which has received approval from Lloyds and will initially be sold to customers via three online retailers. Avid said the move underscored its determination to bring a renewed emphasis on A-rated capacity for niche products within the MGA sector.

Steve Duxbury, head of ancillary motor at Avid, said: “Previously GAP insurance has often been underwritten by offshore, unrated GAP insurers who withdrew from the market when they stopped making money. Our A-rated product will give retailers and customers much more confidence in GAP.”

Avid holds both Lloyd's coverholder and broker status and specialises in the social housing sector, leisure, travel and associated insurance and property insurance, together with niche insurance schemes and products. The business is majority owned by Beech Tree Private Equity.

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