The deal will see the broker's senior management team run the intermediary as a standalone business.
Overdue debts and trade credit claims increased in the last three months, according to a specialist broker – and may continue to rise.
The insurer said the move will benefit both parties as well as the policyholder.
Five years after the global financial crisis, indebted companies are struggling to keep up repayments, prompting businesses to take further action to recoup what they are owed.
The reality of business is that from time to time clients will switch brokers, but the reasons behind this needn't be a mystery. On this week's Insurance Business TV we speak to Stuart Prendergast of NCI, Brad Fox of AFA and Doug Mathlin of Frontrunner Consulting Group for their insights into client retention.
Two major appointments at Lumley, five new directors for the Underwriting Agencies Council, Ironshore Australia appoints insurance broker and IAG adds another director.