Branch closures will impact on student sector, according to Karmainsurance.com
A specialist student insurance firm has raised concerns over Endsleigh's decision to close its branches.
Brian Wright, managing director of Karmainsurance.com, said: "Endsleigh was established to provide insurance for students – this was its raison d etre.
"It enjoyed support from the National Union of Students and warning bells should have rung when the NUS sold their shares in the business 18 months ago.
"Over the years, the so-called student-friendly insurer has lost touch, offering outdated and overpriced policies – a clear indicator that it’s not keen to continue operating in this sector.”
Wright concluded: “It’s inevitable a provider, offering inferior products at high cost, whether online or via a costly branch network, will result in failure.
"What’s really concerning is the timing of the 119 branch closures – just before new students arrive on campus and are looking for insurance.
"Whilst they may not have purchased Endsleigh’s cover, it would have got them thinking about insurance and the need to shop around. Now it may slip off their radar completely.”