QBE will underwrite a new home and contents policy introduced by loan and mortgage protection provider ALI Group.

The product provides immediate pre-settlement cover for up to 90 days, and is available via ALI’s network of 3500-plus mortgage brokers.

“We are proud to partner with ALI Group to help mortgage brokers provide general insurance products and services to meet their customers’ insurance needs, while at the same time building a valuable and diversified financial services business,” QBE LMI CEO Phil White said.

“Mortgage brokers will now be able to give their customers an instant quote, modify the features and benefits of a policy to meet specific needs and create a policy on the spot.”

ALI Group CEO and co-owner Huy Truong says the product will widen its brokers’ reach.

“We understand brokers can no longer afford to be a mono-line business and we are delighted to empower them in extending their services and provide a more robust product offering,” he said. “By constantly working to improve and expand our product offering for brokers, we aim to ensure brokers can not only add value to their clients, but make protection more convenient and increase the likelihood of referrals through a trusted broker-buyer relationship.”

ALI Group’s brokers have facilitated almost $43 billion in loan protection to property owners since 2003.