Camberford Law's Network Extra starts trading on 1 December.
The network will provide access to a wide range of markets and compliance services. Network Extra said that other benefits of network membership include
Premium financing facilities offering an extra profit margin
Significant reductions in credit card merchant fees
Specially negotiated nett rated professional indemnity insurance
Commercial legal expenses insurance for the member
Access to Camberford's office insurance
Lloyd Hanks, managing director, said: "The beauty of Network Extra is that brokers can place all their commercial lines business through one central source without the hassle and time-wasting of chasing the market for competitive quotations or, as often happens, not being able to find a market at all. Network Extra's underwriting team do all that and then place the business, administer mid-term alterations and provide renewal terms.
"Network Extra acts as a virtual insurer, freeing up brokers to spend their time more profitably seeking new business and building client relationships. We deal with the broker on all matters - the normal broker/client relationship and the broker's own identity both continue as before. And, with systems being such a costly element of a broker's operating costs, a key benefit with Network Extra is that there is no need for brokers to change their systems - they just need to use email and the internet."
Richard Sheikh, Network Extra's Chairman & CEO added: "We will not make promises to brokers and insurers that we cannot deliver."
Network Extra is the brand name of Camberford Law Network plc. The Board comprises Richard Sheikh (chairman & ceo), Lloyd Hanks (md), Gill Bishop (finance & legal), Nigel Dyer (marketing), Ray Stibbards (compliance & training), David Ottewill (Underwriting).
