Abbey for Intermediaries is offering advice in preparation for ‘General Insurance Day’

Amanda Jarvis

November 22, 2004

Abbey for Intermediaries has launched an “Advice not Price” direct mail campaign, and created a new “Top Tips” brochure to help intermediaries become fully compliant and provide suggestions on how to offer their clients suitable advice under the new regulatory guidelines.

Ambrose McGinn, Director, Abbey for Intermediaries said: “Abbey is committed to helping intermediaries get to grips with their new regulatory responsibilities for general insurance and this campaign provides them with the information they need to help them understand the FSA’s guidelines and meet their clients’ needs.”

To support the new campaign, Abbey for Intermediaries is moving to a new commission based payment package for intermediaries selling Peace of Mind Buildings and Contents insurance, and Paymentcare mortgage payment protection insurance. Peace of Mind Buildings and Contents policies offer intermediaries up to £100_ up front commission, plus 15 per cent of the total premium if the cover stays in force at renewal of the policy. Intermediaries will also see up front commission on Paymentcare rise to a minimum of £65_ on the anniversary of the mortgage payment protection policy, and will qualify for 15 per cent renewal commission based on the annual premium, as long as the cover remains in force.

Abbey’s general insurance products are amongst the most comprehensive in the marketplace and intermediaries have the assurance that when Peace of Mind home insurance or Paymentcare mortgage payment protection insurance are sold alongside Abbey mortgages, cover will automatically start from the completion date without any need to worry.

Paymentcare offers comprehensive mortgage payment protection and includes a “Back to Work” advice service for unemployment claims, as well as cover for back pain and stress. A new benefit to Abbey’s Paymentcare called “Back to Work Rehabilitation Service” has been introduced and is designed to complement treatment from clients’ local GPs depending on the circumstances, and to help them back to health.

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