The Mortgage Times Group’s general insurance (GI) division has introduced the referral scheme for buildings, contents, buy-to-let and commercial insurance enquiries. The business referral option will enable client risk to be brokered to a panel of insurers
, including Legal & General, Norwich Union and Zurich.
The scheme aims to offer advisers the chance to earn renewable commission throughout the life of the insurance policy.
Christopher May, director of The Mortgage Times Group, said: “This business referral scheme encourages our members to make extra income when they are too busy to quote clients.The risk is being brokered to a host of recognisable firms, so you can be sure what is being offered to your client is one of the best offerings on the market.”
General Times claimed that insurance quotations submitted through it would be sent to the client the same day. The copy of the quotation would also be sent to the broker, which means the policies can be issued immediately.
Danny Lovey, proprietor of The Mortgage Practitioner, commented: “This is welcome news for the industry and will help to ensure the market remains competitive. There are some good members on its panel, which will help its appointed representatives offer their clients a wide choice.
“It’s also good to hear the GI market practice of earning new commission on insurance policies into retirement if they are renewed is being continued.”
