New Residential Oil Spill Insurance Product Launches

Oil Spill Insurance Brokers Ltd, an online insurance broker that specialises in arranging environmental damage insurance schemes and services, and part of the TEn Insurance Network, has today launched HomeSpill – a first in the UK insurance industry.

HomeSpill is a new and innovative insurance policy specifically developed for home heating oil users and offers an annual oil tank inspection by a nationwide panel of OFTEC technicians, 24/7 emergency response service by specialists, as well as environmental damage insurance cover. It is designed to provide financial protection from the potentially significant costs and liabilities arising from an oil spill or leak causing pollution to land or water including groundwater – a major loss risk that is often excluded or not adequately covered by UK household insurance policies.

For the first time, brokers have the opportunity to access and sell a stand-alone, specialist risk management, environmental damage insurance and incident response package to their oil using clients through a quick and easy to use online quote and buy platform.

The online quote and buy platform, with delegated authority from ‘A’ rated Lloyd’s capacity, has been tailor made for Oil Spill Insurance by SchemeServe, a leading provider of software for the insurance industry.  The platform can also be white labelled for use by other broker partners.

Judy Hadden ACII, Founder of Oil Spill Insurance, comments: “We are both pleased and proud to be launching HomeSpill today.  We have worked long and hard to bring this innovative, new insurance product to market and it has in no small part been thanks to the support we received from TEn Insurance, SchemeServe, other project partners and numerous oil and insurance industry friends.

“There are approximately 1.1 million households in Great Britain using home heating oil, mainly in rural areas with a high proportion being occupied by HNW individuals. Oil is a safe and efficient fuel to use if it is looked after and stored properly. When it isn’t, oil can be one of the most common pollutants of land and water, with approximately 3000 oil pollution incidents being reported to environmental regulators each year and many more going under the radar.  A major concern is the high proportion of aging plastic single skin oil tanks now in current use, that are well past their sell by date and which could fail at any time, causing significant damage to the environment and property.  There is a great opportunity for brokers to tap into this significant niche market using our online quote and buy platform and add value to their clients.’

Ed Halsey, Head of Sales & Marketing at SchemeServe, comments: “We’re delighted to have been chosen by Judy to be involved in bringing this exciting innovative product to market.  Cloud based software has already established itself as the best choice for quote and buy platforms like this.  The reality now is that changes to products, wordings, question sets or policy documents for example can happen in seconds in real time, making it possible for insurance to be dynamic which is ultimately good news for the insurer, the broker and the customer.  SchemeServe makes innovative IT solutions accessible and cost effective for the largest to the very smallest players in the market.”

James Sharp, Director, TEn Insurance, comments: “HomeSpill is one of those exciting new ideas you come across all too rarely that sound so simple that you can’t understand why it hasn’t been done before.  There is a very real need for this product and a broker market that’s ready to capitalise on it.  We have supported Judy since she came to us in 2014 and worked with her to refine the product and arrange the right market as well as advising on distribution and marketing.  HomeSpill has every element of a successful new scheme and we wish her every success with it.”

For further information please contact:

SJ Wrigley at Spotlight Consulting: or 07909 546104

About Oil Spill Insurance

Oil Spill Insurance Brokers Limited t/as Oil Spill Insurance is an appointed representative of TEn Insurance Services Limited.  TEn Insurance Services Limited, Coverholder at Lloyd’s, is authorised and regulated by the Financial Conduct Authority.   The FCA authorisation number for Oil Spill Insurance Brokers Limited is 627169 and for TEn Insurance Services Limited is 314593.

We are covered by the Financial Ombudsman Service. Private customers and micro-enterprises may pursue complaints with the Financial Ombudsman Service if we cannot resolve them. Further information is on the Financial Ombudsman Service website: We are an Associate member of the Oil Firing Technical Association (OFTEC).

About SchemeServe

SchemeServe is a leading cloud based provider of software to the insurance industry which has grown to operate more than 200 schemes and £100m of gross written premium in the past two years.

SchemeServe is a white-labelled administration, distribution and underwriting SaaS solution for those operating delegated authority schemes business in both personal and commercial lines.

The company’s ‘Scheme Tailors’ are all ex-underwriters and using SchemeServe they work with brokers to design bespoke white labelled solutions for customers in 10 days or less.

The SchemeServe philosophy is Remarkable Schemes Made Simple.

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