All current policies will be honoured and brokers are still able to make changes
NIG has announced it has made contact with all its brokers, giving dates of when it will cease renewals and stop accepting new business in personal lines.
An NIG spokesman said each broker would be given a specific date. A handful of notifications seen by Insurance Times shows that NIG is targeting the end of September and beginning of October for winding up new business. It is stopping renewals at the end of October and early November.
NIG announced last month it would be putting its personal lines portfolio into run-off. The book has premium income of between £250m and £300m.
An NIG spokesman said: “We have communicated to all of our brokers the closure and run-off of NIG's personal lines business, providing them with details of when we will cease to offer policies for new business and renewals.
“However, as previously stated, all policies will be honoured for the term of the policy and brokers will be able to continue to make policy changes as normal during that period. Customer claims will not be affected,” he added.