Products: UK General and Newton Lee whet market’s appetite with Chinese restaurant scheme
UK General has signed a schemes agreement with Sunderland-based broker Newton Lee to cover the Chinese restaurant and takeaway sector.
The Leeds-based specialist insurer, which generates nearly 80% of its gross written premiums from schemes, said its team had built on an existing scheme among Bangladeshi restaurant owners to devise a bespoke product targeting Chinese restauranteurs.
UK General’s director of group marketing Gary O’Brien commented: “It is a significant white-labelled scheme that replaces an existing product with dual language policy wording, flexible pricing via net rating and commission.” He continued:
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Products
Meet the MGA feature: Arc Legal
Arc Legal CEO Lee Taylor outlines the value in having a supportive parent of the scale of AmTrust; and why it makes sense to keep an eye on legislation and social changes in order to innovate and develop new products.
i-Wonder and Compare The Market team up on bicycle insurance
i-Wonder has partnered with Compare the Market to launch the aggregator’s first bicycle insurance comparison service.
£1.3bn tech firm targets brokers with premium finance launch
Credit technology provider Abound has launched a new premium finance solution which it claims will “revolutionise” the sector by replacing “slow and outdated direct debit system with instant, automated payments”.
The stats: Q3 2024 – Return to growth across the board
Growth in average commercial lines premiums has picked up again in the third quarter of 2024, following a slow-down in the first half of the year, according to the latest Acturis Commercial Broking Index. Ida Axling reports.
No change to Premium Credit disclosure arrangements
Premium Credit is not asking distribution partners to make any changes to existing customer journeys after reviewing the implications of a legal ruling for commission disclosure in motor finance.
Sabre to launch new online direct brand in Q1 2025
Sabre has revealed plans to enter the direct motorcycle market with an online brand in Q1 2025.
Alps moves another book to AmTrust
Alps, a provider of insurance add-on policies, has moved its landlord legal expense book to AmTrust International.
Pen signs up to Flood Re’s Build Back Better
Pen Undewriting has signed up to Flood Re’s Build Back Better with all eligible new and renewing home policies automatically including the benefits of the scheme from 1 January 2025.