m2i already has Paymentshield, Select & Protect and CETA on its GI panel but it believes City Connexions can add another option for brokers when it comes to the policy.
City Connexions is offering four contracts through m2i, all of which supply ‘back to day one’ cover after a 30-day waiting period. The products include: 12/12-month full ASU – selling at 3.9 per cent; 24/12-month full ASU – selling at 4.75 per cent; 12-month sickness/accident – selling at 2.75 per cent; and 12-month unemployment – selling at 2.9 per cent.
Steve Butler, head of m2i, said: “At m2i we are continually aware that we have a responsibility to our members to ensure that the products we offer through our panel of providers are FSA-compliant, consumer-focused and are designed to treat the customer fairly. We are therefore delighted to welcome City Connexions to our panel of MPPI providers and look forward to a strong business relationship with them.”
Mike Westacott, chairman of City Connexions, said: “With the ever-increasing need for innovative, consumer-focused products, providers must constantly focus on the needs of the market, so we are delighted with this new signing as it demonstrates the clear commitment that Mortgage 2000 has towards its members.”
Alec Ruthven, director at A M Ruthven & Associates, believes the most important thing with MPPI is the extent of the cover, rather than the rates. He said: “The rates sound quite competitive but you always have to make sure the cover is adequate. The last thing you want as a broker is the client coming back to you and saying the cover wasn’t satisfactory.”
