Schemes broker Select & Protect is to begin a push into general insurance.
Select & Protect has traditionally served the mortgage and independent financial adviser (IFA) sector, offering household and mortgage protection products.
But from 1 October, it will be offering its household policy, underwritten by Norwich Union, to general insurance brokers when it launches its FSA compliant scheme.
S&P chief executive Simon Hood said it would manage the complete sales process. "We will issue the policy, collect premiums by direct debit, do the mid-term alterations and handle claims."
He said the scheme was targeted at brokers with predominantly commercial accounts. "These brokers will have a lot less time to deal with general administration [post-FSA regulation]. They will need to concentrate on those areas that earn them the most money, namely the commercial book."
Hood added that S&P was aiming for general insurance brokers to account for 10% of its total agency base. "We are looking to get 6,000 IFAs and mortgage agents by the end of the year," he said.
Select & Protect's premium income at the end of 2003 was £27m. It is aiming to achieve a premium income of £37m by the end of 2005.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
