Norwich Union has reduced rates on two of its newest package products following successful launches to the broker market.
Norwich Union has reduced rates on two of its newest package products following successful launches to the broker market.
John Seaton, Norwich Union's commercial underwriting director, says: There has been a strong take up of the Shop and Salon, and Office and Surgery, products and a pricing review has produced rate reductions of 10 per cent and five per cent respectively, which will give them an additional boost.
We're pleased with the performance of these two new products and, after some analysis, have decided to improve the offering, which is good news for brokers who are writing this type of business and their clients.
This reinforces our commitment to the small business market and to developing our presence there.
The products have introduced innovative features into their particular markets, including legal expenses cover as standard, new optional covers for risks such as personal accident and employee dishonesty, plus enhanced limits and extensions.
For further information, please contact: Jenny Chapman, Norwich Union press office on 08703 666864/07775 822642 or Jon Clements at Staniforth Communications on 0161 274 0118
Notes to Editors:
Norwich Union is the UK's largest insurer. In general insurance it is more than 1.5 times the size of its nearest competitor, and has a 19 per cent share of the market.
It has a focus on insurance for individuals and small businesses. It insures:
- one in five households
- one in five motor vehicles
- more than 700,000 businesses
Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct.
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