Halifax Bank of Scotland's (HBOS) commercial insurance arm has launched a new scheme for its business banking customers.
National schemes development manager Paul Bishop said that rather than being sector specific, the new scheme, which would predominantly be underwritten
by Groupama, was designed to be applicable to a range of business sectors with a strong risk management focus.
Bishop, who joined HBOS' commercial insurance arm in June from broker Marsh, said it was also set to roll out another scheme, underwritten by AXA, for commercial property owners and developers, following a successful pilot.
Head of partnerships and commercial insurance at Halifax General Insurance Services Peter Thompson said that rather than the "scatter gun" approach the business had previously used, it would now focus on developing targeted propositions.
Thompson said commercial schemes business could eventually account for at least half of its commercial premium income.
"In my plans going forward it's going to be a significant revenue producer in premium income terms," Thompson said.
"Over half of our portfolio of customers would suit a scheme arrangement."
Bishop said that as the group developed its scheme propositions further, it might also look to insurers to take on policy administration.
