Personal lines broker set to move into commercial lines following deal with AXA
Personal lines broker AA is set to break into the commercial insurance market following a deal with AXA.
The AA's move into commercial lines is part of a wider strategy by the broker to diversify its product offering, which as of this month, now also includes pet insurance.
Under the agreement, the AA will 'introduce' policyholders with SME businesses to AXA who will then underwrite and handle cover on the AA's behalf.
The cover will be particularly targeted at owners of small hotels, guesthouses, restaurants and pubs, owing to the broker's links to the Good Hotel, Good Restaurant and Good Bed & Breakfast guides.
John Close, general manager of AA Insurance, said: "AA Publishing has long-standing relationships within the leisure industry, providing ratings and guides. Our research shows that the AA would be a natural choice for successful small or medium-sized businesses looking for commercial insurance."
The SME packages, which will be white-labelled to the AA, include cover for business contents and stock, business interruption, public, product and employers' liability and legal expenses.
Mhairi Courtney, director of AXA insurance, said: "I'm delighted that the AA has chosen us as its partner in this initiative. The AA has a strong brand that will appeal to a wide range of businesses and we're looking forward to building a solid foundation for successful partnership."