Online SME comparison site has closed

Coverzones, the SME price comparison and policy management site, is no longer writing new business, according to its website.

A statement on its website said: “This site is closed and Coverzones is not accepting any new business. We apologise for any inconvenience this may cause.”

It advised existing customers to contact their insurance company directly for queries, policy changes, cancellations and renewals.

Coverzones chief executive Simon Ball said he was not in a position to confirm or deny whether the business had entered administration. But added he may be in a position to issue further information later this week.

Coverzones claimed it would transform the commercial lines market when it was launched in 2008.

Ball headed the business alongside chief broking officer Steve Davis, formerly of Aon.

The board of directors included chairman John Reeve, the former executive chairman of Willis, along with Les Owen, the former chief executive of AXA Asia Pacific. Steve Sherlock, formerly head of UK retail marketing at Hiscox, was marketing director.