Paymentshield business model is for independent advisers

From Harry Katz

Eddie Royce’s letter concerning Paymentshield is somewhat disingenuous (Mortgage Strategy October 23). Almost uniquely among general insurers, Paymentshield is efficient, has good web and IT capability and is a good firm to deal with.

We don’t place mortgage or term assurance business with it but find its general insurance proposition good.

Why is it so hard to understand that its business model is for independent advisers? If you are no longer independent you can hardly expect continuing payments. The firm is not a charity.

On the life side, would you expect to receive renewal commission from Standard Life if you became an appointed representative of AXA? Network members no doubt have their own arrangements.

Harry Katz
Norwest Consultants