Unemployment Cover - Covid

Vicki1993

I put in place an unemployment cover when I entered into my mortgage. The cover was with Legal and General who have since been taken over by Liverpool Victoria and renamed Fairmead. I have been advised that they will be passing over the scheme to AmTrust Europe Ltd who will be administered by Wessex Group. However, they want £10 more per month going forward for the same cover.

I decided I would investigate the other options available but a comparison site suggested that no companies are currently offering new unemployment cover due to Covid. I don't really want to be paying £10 more a month but I cannot see what other options I have. Presumably there a large number of people in the same boat and I wanted to see what other people are doing in the circumstances. I have been told the change will be effective from 11 December so I have a little bit of time to consider my options.

Does anyone know if any companies are actually still offering cover so I can transfer over/ consider my options?

dunstonh

The cover was with Legal and General who have since been taken over by Liverpool Victoria and renamed Fairmead. 

L&G has not been taken over by LV.    L&G have sold off unwanted parts of their business to others in a range of areas but still remain an independent company.

Does anyone know if any companies are actually still offering cover so I can transfer over/ consider my options?

Its a hard market for two reasons. 
1 - Covid
2 - It's a PPI policy.

Even before Covid, the PPI market has dried up and there was very little appetite for people buying PPI plans.   That also reduced the cross subsidy pool which increased risks to the insurers and reassurers.   So, only a handful of providers still offered PPI plans.   Then Covid came along and just finished it off.

Many people have found their providers have ceased to offer cover at renewal.  So, you have very little choice.