Budget Insurance rejects NU's gloomy forecast for personal lines brokers
Matthew Donaldson, managing director, Budget Retail, has criticised Norwich Union’s claim that it was forced to close Hill House Hammond (HHH) because it could not compete with direct insurers on personal lines business.
Mr Donald stated that he strongly believed there was a place for the high street broker in the personal lines market. He said, “The closure of HHH has come as a shock but not a surprise as HHH has struggled for some time as they did not have a strong business model.”He also commented that the closure of HHH was bad news for the broker as it felt that there are customers out there who want high street service.
“We can exploit the situation in two ways,” said Mr Donaldson “On the one side we
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