CETA is targeting brokers angered by Paymentshields decision to stop paying trail commission to brokers no longer regulated with the launch of a home insurance product.
The AXA protector policy is a stand-alone, monthly-paid insurance product underwritten by AXA with commission paid at 27.5% on an indemnity basis.
CETA promises that once a policy is on risk, commission will be paid until the policy cancels regardless of whether the broker ceases to be regulated or retires.
David Quick, managing director of CETA, says: This is a highly rated policy and a great alternative to those angry at Paymentshields recent decision over commission payments.
Brokers concerned about continuing to use Paymentshield are asking themselves What next – will they cut the commission payable, introduce minimum business levels or even just raise rates?
In contrast, CETA has become a trusted source to thousands of brokers over the last 14 years because of our excellent service levels, competitive pricing and breadth of products.
The AXA protector product is an interest-free, monthly-paid home insurance policy with a notional sum insured for buildings of 350,000 and 50,000 for contents.
Accidental damage can be added, along with personal possessions of up to 12,500 and 24,999 by referral.
There are a number of discounts including first-time buyer, voluntary excesses, proposer age, newer buildings, no claims and cross cover discounts.
CETA offers guaranteed quotes along with electronic submission and virtually instant Internet access of all documentation.
This product is initially available to all authorised intermediaries through the CETA premium portal.