Norwich Union kicks off product spree.
Norwich Union has launched two new products and promises there is more to come. The insurer-giant...
Norwich Union has launched two new products and promises there ismore to come.
The insurer-giant is piloting a 'pay as you drive' insurance policy, in
which the number of miles driven will directly affect the motor premium
paid.
The scheme could have repercussions for insurance brokers' commission,
with variable premiums making it more logical for brokers to be paid fees
than percentage cuts.
Robert Ledger, programme development director for Norwich Union, said:
"The product will probably be a
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