Brit and Oxygen are underwriting a new guaranteed asset protection (GAP) policy from Holman's.
The independent Lloyd's broker is offering Finance and Invoice GAP products to its network of 2,000 brokers.
Chief executive Andrew Holman said: “This GAP product is the latest of our extranet offerings to brokers and the feedback during our pilot testing has been excellent. The new facility creates an additional income stream for brokers - with minimum administration. The broker can quote and bind a new policy inside two minutes and earn 40% commission in the process. We trust it will go some way to replacing turnover that brokers have lost due to the soft market in motor rates”.
