Three more housing associations have joined an insurance business designed to save money on their premiums. Bromford Group, Merlin Housing Society and Notting Hill Housing have all set up so-called ‘cells’ in Igloo – a specialist broker established last year by insurance adviser Acumus.

Igloo works through captive insurance deals, under which each individual housing association member sets up its own in-house insurer for routine claims, with the aim of saving money on smaller claims. Larger claims still have to be underwritten by a third party insurer.

They join Affinity Sutton, which was the first to sign up last October, as well as Gallions Housing Association and RCT Homes in Wales.The additions mean that 125,000 homes in England and Wales are now insured through Igloo.

Huw Thomas, chief executive of Acumus, said: ‘Igloo is not just about generating cost savings and promoting greater risk control, it is also about building a community. By bringing together like-minded housing associations, they are able to benefit both from the economies of scale that Igloo provides, as well as the sharing of ideas and risk management best practice across the sector.’