Managing general agent Alps has added Financial & Legal to its panel for guaranteed asset protection insurance. The Financial & Legal product will cover vehicles valued up to £125,000 and offers an extended policy purchase period of up to 180 days after the vehicle has been bought.

In 2024, the Financial Conduct Authority intervened in the GAP market and sales were suspended due to concerns over product design and fair value. In May of that year, Financial & Legal was one of the first providers the FCA sanctioned to recommence their sale of GAP products.

Michelle O’Reilly, managing director at Alps, said: “We’re thrilled to welcome Financial & Legal to our panel. Their backing is a strong endorsement of our capabilities and credibility in the add-on market. GAP insurance remains a vital protection product for vehicle owners and an important revenue stream for brokers.

“Alps was among the first MGAs to resume GAP sales post-FCA review, and we continue to put education, compliance, and customer value at the heart of our offering.”

Ian Kember, business development manager at Financial & Legal, added: “We are pleased to be partnering with Alps, whose reputation for innovation, technical expertise, and broker support in the add-on insurance space is second to none. Their heritage as a specialist MGA, combined with a strong track record in compliance and service delivery, makes them an ideal partner as we expand our presence in the GAP market.”