Speciality vehicle underwriting agency MB Insurance Group says joining forces with QBE will lead to increased third-party property damage limits.

Group MD Brian McNamara says the move away from current underwriter Assetinsure, which will take effect from January, will enhance the agency’s position as a specialist prestige car underwriter.

“We have exciting plans for the future which require an insurer with the size and reputation of QBE to ensure our plans are fully realised,” he said.

QBE EGM Corporate Partners and Direct Tony MacRae says the new partnership is consistent with the insurer’s strategy of backing leading specialist agencies which have “a solid track record and reputation”.

The deal will see MB’s motor vehicle policy enhanced, including increased third-party property damage limits and coverage for funeral expenses.