HML cuts price by 12.5%
HML cuts price by 12.5%
Travel specialist HML has cut its annual multi-trip schemes price by 12.5%. A two-week trip for an adult will cost £21.50, including insurance premium tax and 35% commission. "With optional commissions of up to 35% it is possible for brokers to earn more commission on travel insurance than on motor cover," said Charles Reilly, HML marketing director.
Preferential goes 'wacky'
Preferential Direct has received a 30% increase in demand for "wacky" winter sports cover in the last year after Prince Harry took to snowblading. In response, Preferential has added such sports to its Gold annual multi-trip policy. Prices start from £45 per person for 17-day European winter sports cover. Cover includes snowblading and snowmobiling.
RE Brown new liability policy
Lloyd's liability underwriter RE Brown has devised a new type of cover for companies' legal costs and expenses. The company liability policy provides protection for employment disputes, securities transactions, investigations by public and regulatory bodies and legal actions against directors by disgruntled shareholders. The policy can be tailored to meet individual company requirements and jurisdictions. It contains a 12-month discovery period for no extra premium and a legal helpline service.
Motor trader cover boosted
Specialist motor trade insurer Road Runner has increased the maximum level of cover for small motor traders from £75,000 to £125,000. The new Combined package reflects the increasing value of stock and equipment held by small motor traders. The premium remains unchanged.
Permanent cuts rates by 36%
Permanent Insurance is cutting its term assurance rates in the life protection market by up to 36%. The income protection specialist is carrying out the measure, as part of a review of its term assurance rates. Permanent Insurance will also be adding terminal illness cover to policies, at no extra charge. The exception will be an increased commission on pension term, from 100% to 125% of LAUTRO rates.
FML launches landlord cover
FML Insurance Services has launched a product for landlords renting to companies. In the event of the corporate tenant going out of business, it will pay the rent until the end of the lease, until the property is re-let or for the indemnity period.