Direct motor insurer converts to an intermediary to survive.
Budget Insurance has converted from a direct insurer to an intermediary, conceding that it could no ...
Budget Insurance has converted from a direct insurer to anintermediary, conceding that it could no longer make an adequate return on
capital as a direct writer.
The direct motor insurer - known for its monthly contracts - launched its
intermediary arm in September last year. Called Budget Insurance Services,
the intermediary started with a panel of three insurers - Highway, Iron
Trades and Zenith - and by December of 1997 had built up a book of 20,000
policyholders.
By the end of January, it became
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