Changes to Mortgage Protection and Short-term Income Protection

The underwriter for Paymentshield’s Mortgage Protection (MPPI) and Income Protection (STIP) products is moving from Covea to AmTrust Specialty Limited (with claims administered by URIS Group Limited).  

With this change, we’ll also be re-introducing the ability to offer both new and existing MPPI clients protection against unemployment alongside their cover for accident and sickness.

However, to facilitate a smooth transition to our new insurer and re-introduction of unemployment, we need to temporarily close our Mortgage Protection product to new business from 11.59pm on the 11 April 2025.

This comes following the improvements to our Home and Landlord’s quote journeys and means Adviser Hub will now offer a smoother and quicker experience when obtaining quotes for MPPI.

Key dates

All new business for our Mortgage Protection must be submitted on or before the 11 April 2025 as any pipeline quotes or pending policies not submitted before this date will expire and cannot be re-submitted until 25 May 2025.

Letters to existing customers will start to go out from 14 April 2025 giving policyholders 30 days’ notice of the insurer change based on their Direct Debit date and our website will be updated with our latest MPPI policy document.

Please note: We originally expected to be accepting new MPPI business from 25 May 2025 but to ensure a smooth re-introduction of the product and launch of the new quote journey (which avoids the bank holiday weekend), we now plan to open the product to new business from 2 June 2025.

For new business you will be able to offer both ‘Accident and Sickness Cover’ or ‘Accident, Sickness and Unemployment cover’.

Customers will be able to add protection for unemployment to and existing accident and sickness MPPI policy from 25 June.  

Next steps

Please log into Adviser Hub to check the details of your MPPI pipeline quotes or pending policies. You can also find more information about the benefits of Mortgage Protection on our website.