Broker purchases Insurance 4 Car Hire Agents

Towergate has strengthened its on-line capabilities with the acquisition of Insurance 4 Car Hire Agents (I4CH).

I4CH is an internet based insurance agency providing specialist insurance products for the car rental market.

It will come under the jurisdiction of the Retail Division, headed by Amanda Blanc.

Founded 5 years ago, I4CH provides customers a number of products designed to insure against the high excess that can be charged by car rental companies when hiring a vehicle.

It offers products that include cover for damage to windows, tyres, roof and the undercarriage of the vehicle, which tend to be general exclusions of car rental agreements.

I a statement Towergate said: "The acquisition of I4CH provides Towergate access to a successful internet based business where all sales and fulfilment are carried out online. This will help Towergate strengthen its online capabilities and build its expertise further in the distribution of consumer products online."

Peter Cullum, Executive Chairman of Towergate added: "This is a business with a great track record and significant growth potential. It’s yet another great signing for Towergate which will help strengthen our online capabilities and product offering to customers”.