Halifax GI launches alternative commission structure

Halifax has launched an additional commission structure on its general insurance proposition that offers brokers the first three years commission upfront.

The new commission structure will be available on Halifax buildings and contents business accessed via the Halifax, Bank of Scotland or The Mortgage Business intermediary online platforms.

The offer is only available to brokers who self serve via the online system. Eligible brokers can opt for the new commission structure or stick with their standard commission arrangements.

If brokers choose to opt for the new structure, they will receive commission upfront for the first three years, which equates to 75% of the first year premium.

From year four onwards, brokers will receive commission on a monthly basis for the lifetime of the policy.

Jon Craven, head of mortgage intermediaries at Halifax general insurance, says: “Halifax general insurance has invested heavily in the intermediary channel over the last couple of years.

“We’ve listened to brokers and refined our products and systems to ensure quality and value for the customer, simplicity of sale and a decent return for the broker.

“Our products will be the deciding factor here. All we ask is that intermediaries and their customers consider our products alongside those offered by other providers of general insurance.”