Cycling insurance provider Pedalsure, which is an appointed representative and incubation partner of Pro MGA Solutions, has launched a crowdfunding campaign to raise capital for Coverbase, its new multi-product insurance brand. Coverbase plans to offer premium watch insurance as its first product, followed by jewellery, cameras, and musical instruments.

Philip Lochner, CEO of Pedalsure, said: “Cyclists understand the importance of protecting the things you care about, whether it’s a road bike you use several times a week or an expensive watch you like to wear every day.

“We’ve identified an exciting opportunity to take our expertise protecting bikes into new product categories.”