The AXA Protector policy is a stand-alone, monthly-paid insurance product underwritten by AXA with commission paid at 27.5 per cent on an indemnity basis.
CETA promises that once a policy is on risk, commission will be paid until the policy cancels regardless of whether the broker ceases to be regulated or retires.
CETA managing director David Quick said: “This is a highly rated policy and a great alternative to those angry at Paymentshield’s recent decision over commission payments.
“Brokers concerned about continuing to use Paymentshield are asking themselves the question ‘what next?’. Will they cut the commission payable, introduce minimum business levels or even just raise rates? In contrast, CETA has become a trusted source to thousands of brokers over the last 14 years because of our excellent service levels, competitive pricing and breadth of products.”
The AXA Protector product is an interest-free, monthly-paid home insurance policy with a notional sum insured for buildings of £350,000 and £50,000 for contents. Accidental damage can be added, along with personal possessions of up to £12,500 and £24,999 by referral.
There are a number of discounts including first-time buyer, voluntary excesses, proposer age, newer buildings, no claims and cross cover discounts.
This product is initially available to all authorised intermediaries through the CETA Premium Portal and at the end of the month on its disk based system.
