Managing general agent NBS Underwriting has launched a new product to cover commercial premises that become vacant due to a variety of reasons including, probate, awaiting tenants, undergoing refurbishment or construction works. The product, backed by Tokio Marine HCC, adds to the range of products available for landlords, non-standard residential properties and holiday lets.

Steve Cowman, managing director of NBS Underwriting, said: “In the UK, the number of unoccupied commercial properties has seen a 5% increase over the past year, highlighting the growing demand for such coverage.

“In addition, we have listened to feedback from brokers and developed this complementary product to meet the specific needs of their clients.”