Up to 100 brokers may have to stop offering Norwich Union (NU) personal lines cover after the UK's biggest insurer decided to pull the plug on its Planet facility for intermediaries.
Planet was originally introduced several years ago to enable commercial lines intermediaries to write personal lines business. Two smaller intermediary systems – Connectivity and Downstream – are also being decommissioned.
A spokeswoman for NU said brokers would have four options after Planet is withdrawn in June 2001: “They can either convert to full-cycle EDI, or the conventional way of doing business, or have their personal lines business written by alternative underwriter Scottish and General or exit the personal lines market.”
The Planet system will take a year to phase out after June 2001 and will have no impact on commercial transactions.
