Schemes broker Select & Protect is to begin a push into general insurance.
Select & Protect has traditionally served the mortgage and independent financial adviser (IFA) sector, offering household and mortgage protection products.
But from 1 October, it will be offering its household policy, underwritten by Norwich Union, to general insurance brokers when it launches its FSA compliant scheme.
S&P chief executive Simon Hood said it would manage the complete sales process. "We will issue the policy, collect premiums by direct debit, do the mid-term alterations and handle claims."
He said the scheme was targeted at brokers with predominantly commercial accounts. "These brokers will have a lot less time to deal with general administration [post-FSA regulation]. They will need to concentrate on those areas that earn them the most money, namely the commercial book."
Hood added that S&P was aiming for general insurance brokers to account for 10% of its total agency base. "We are looking to get 6,000 IFAs and mortgage agents by the end of the year," he said.
Select & Protect's premium income at the end of 2003 was £27m. It is aiming to achieve a premium income of £37m by the end of 2005.
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