With a little over two weeks to go before 1 July renewals, brokers are struggling to prise terms, conditions and rates out of insurers.

But The Broker Network has come up with a novel idea that should save brokers time and money. It has reached an agreement with three major composite insurers that renewal terms must be given at least 21 days before renewal. If terms are not given the insurer must provide cover for the insured, said Broker Network chief executive Grant Ellis.

So far three out of six insurers approached have agreed to the protocol.

Ellis said Royal & SunAlliance, Zurich and NIG had agreed. "I am waiting to hear from Norwich Union, AXA and Allianz," he said.

British Insurance Brokers' Associtaion (Biba) chief executive Mike Williams said the July renewals were proving a problem.

Williams warned that with capacity so tight "there will be a small but finite number of risks where no market is available".