The Loss Recovery Group (LRG) plans to double its business in the next year by increasing the number of brokers selling its loss recovery insurance from 200 to around 400.

LRG sales director Simon Trott said that the company was currently recruiting nine extra sales staff to target about 1,000 commercial brokers in the UK market.

LRG sells loss recovery insurance, which is underwritten by NIG, primarily to commercial clients buying property policies through brokers.

Loss recovery insurance covers the costs of employing an independent loss adjuster to act on behalf of the client in the event of a claim.

Trott said that while LRG currently had relationships with around 200 brokers, some of these were "dormant", and it was looking to build "good quality" relationships with at least 300 to 400 of these brokers in order to meet growth targets.

Earlier this year, LRG was endorsed by Biba, and offers special terms to brokers who are Biba members.