Our premium financing is changing across all our personal lines products.

Convenience is important for customers, and we know many people want flexibility in how they pay for premiums. We know too that many brokers have access to a range of finance options for their customers – and nobody wants life to be more complicated than it needs to be, especially in a changing regulatory environment.

With all this in mind, we’ve decided to simplify things across all our personal lines products, by withdrawing our premium finance facility, as the investment required to develop our offering to be in line with changing regulatory requirements, would make it nonviable going forward.

What’s happening?

From 1 October 2021, we’ll be removing our premium financing facility across all our personal lines products.

• New business & renewals – For any new business and renewals with an effective date of 1 October 2021 onwards, we’ll no longer offer premium credit financing on any of our personal lines products including our Car, Home, Van, Bike and Personal Accident (PA) policies.

We recognise that this is a significant change for you and the small number of customers who currently use our premium finance facility. We apologise for any inconvenience this change may cause, and for any occasions where you have to transfer customers to another insurer at renewal as a result.

We’ve added an endorsement to our TOBA with you in respect of this change. Click on the link below to view the TOBA endorsement - please ensure the appropriate person within your organisation is aware of and reads the endorsement carefully. We’ll leave you to choose how and where you store it, alongside your copy of our TOBA with you.