Hiscox has engineered a peace deal between Berkeley Alexander and Select & Protect.

The insurer had been caught in the crossfire between the two over alleged breaches of contract because it underwrote house and contents cover for Select & Protect that Berkeley Alexander distributed through a scheme.

Berkeley Alexander managing director Ted Yorke had threatened to take legal action against Hiscox in a bid to force Select & Protect's hand.

However, he said Hiscox invited the two to a meeting last week, during which it was decided that Select & Protect would take over Berkeley Alexander's scheme for an undisclosed sum.