According to the MGA, the policy was designed as a response to insurers’ requirements of personal guarantees for run off claims.
The broker says it is not ruling out acquisitions to reach the £50m target, as it also pledges to become carbon neutral in the next 12 months.
The High Street business, primarily known for personal lines, is targeting to become a top ten commercial broker. Head of the unit, Richard Easterbrook tells Insurance Age about the plans.
Focus on simplification, digitisation and broker relationships drives growth for the insurer.
The move follows deals to buy Bennetts and the brands Autosaint, Ladybird and First Van.
Insurance Age and Applied Systems discuss some of the hottest topics in the broking world at the moment.
Brokers should consider how many businesses are bought and sold each year as the SME deal insurance space is valued at £1.5bn per year.
The pandemic has changed the way many businesses percieve insurance, but, as Sam Barrett reports, brokers are ideally placed to help SMEs get the right covers in place going forward
With retailers turning from physical shops to online sales and the hospitality sector focusing on deliveries and outdoor dining, Sam Barrett looks at how insurance needs have changed in the pandemic
Following reports of a rise in the number of start-up brokers, Ida Axling says it is great to see that the entrepreneurial spirit remains strong in the broking sector.
The broker has teamed up with SchemeServe to develop the platform which offers a combined commercial and residential property owners’ scheme.
CEO Jimmy Williams talks to Insurance Age about the company’s newly launched product and its plans for future expansion.
Research from Premium credit warns that Covid-19 and the increased cost of cover is pushing SMEs to use credit to buy cover as some cut down on insurance spend.
The organisation says the number of policies traded on its imarket solution reached a record high in March 2021, after volumes dropped in 2020 when businesses closed due to the pandemic.
Egan says RSA's turnaround phase is over as he discusses what the sale to Intact will mean for the UK and International business.
The broker will offer RSA and More Than products to SME customers.
Three out of four SME bosses who use credit to pay for insurance premiums have said that the impact of COVID-19 is the main reason for increased borrowing, Premium Credit finds.
The report said the insurance sector could refocus its efforts towards building trust with its customers, particularly SMEs.
The organisation has also become a standalone underwriting cell within Castel.
According to the provider, the product is designed to help small to medium sized UK brokers price more effectively, cut operational costs and improve the customer journey in personal lines.
Aon UK's Julie Page will chair the group which has been developed to discuss the changing insurance needs of consumers and SME businesses with the aim of creating guidance and key actions for further development.
As demand for flexible on-demand insurance products is accelerated by Covid-19, Insurance Age investigates what the challenges and opportunities are for brokers.
The insurer’s 24/7 telephone service can provide guidance on any business-related legal matter, from employment law to debt recovery and property disputes, as well as advice on Covid-19 related legislation.
Jon Walker explains how the regional network will develop as some offices are set to become specialist call centres.