Policy targeted at UK residents planning a wedding either in the UK or overseas.

Vecta Risk Partners is to supply capacity to its first speciality scheme, Wedinsure.

The scheme is for UK residents who are planning a wedding either in the UK or overseas.

Vecta is a specialist accident & health, travel and lifestyle insurance division of Castel Underwriting Agencies.

The policy comes a month after the firm launched, the firm said.

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Underdeveloped

Richard Gorely, partner at Vecta, stated: “The wedding insurance market remains a relatively underdeveloped area, compared to other personal lines insurance products.

“Wedinsure’s extensive knowledge and experience in the marketing of wedding insurance enables them to take advantage of the opportunities which exist in this sector.”

Available under the scheme is a range of cover from £2,500 up to £65,000 for a tiered insurance product, Vecta said, adding that the product was designed to meet the needs of different sized weddings and budgets.

Cover

Vecta further said that the cover would extend from cancellation and rearrangement costs, through to failure of suppliers and personal accident insurance.

Vecta secured the scheme following a competitive tender process, it said.

Wedinsure is a trading name of Genesis Choice, a retail and wholesale insurance broker.

Genesis’ managing director Terry Martin, said: “Vecta has been an active partner in the development of Wedinsure’s plans and enabled us to come to market quickly.

“They have not only been able to respond to our needs for flexibility, responsiveness and a competitive product but, are also looking ahead with us to how we can enhance the offering with more tailored coverages.”

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