In a two-pronged approach the trade body is to adopt a more central lobbying role for those connected with the protection market whilst stepping up the level of assistance it offers members dealing with GI. AMI expects new members to be attracted by the wider proposition.
AMI director Chris Cummings says: “We have always helped mortgage intermediaries better understand how the regulation of general insurance will impact on their businesses. However, we are seeing increasing demand from members to help them prepare more fully.
“We are staying true to our mortgage brief but responding to requests for additional help.”
The organisation says it is important to react to the needs of its members and is setting up a specialist interest group as well as keeping under close review the need for specific general insurance specialists. The initiative is part of the controlled growth of the organisation and Cummings adds it is “not an attempt to take over the GI world”.
Stephen Atkins, group compliance director of Freedom Finance and AMI board member, says: “This move is a natural extension. We think a high proportion of the market does not understand the issues involved in GI.
“AMI has done a great job in educating the market about mortgages and there is no reason why it can't do the same for general insurance.”