The Association of Insurance Intermediaries and Brokers (AIIB) and its products provider, Broker Brands, has launched a new motor product for members.

The Excess Protector scheme is aimed at drivers aged between 25 and 70, with a minimum two-year no claims discount and with no more than one fault claim in the last three years.

The product covers excesses on private motor policies for accidental damage.

AIIB secretary general Chris Arter said: "This is another product that we believe will be highly attractive to AIIB members and their clients alike."

Broker Brands sales director Jon Britton said the company would pay out excesses after six months for incidents involving disputes.