Non-standard GI broker Ceta Insurance has decided to slash its rates.
The company is knocking up to 30% off a range of non-standard risks in a move that it states reflects its ability to negotiate preferential terms for brokers through its platform.
“We manage our relationships with all of our insurer partners very closely and work with them to ensure we maintain the best rates and coverage. Insurers are often criticised for increasing rates when market conditions go against them but rarely recognised when rates are reduced,” said director of sales and marketing Kevin Paterson.
“There has been a reduction in claims across many insurance categories during the lockdown period and our discount rates show insurers’ willingness to pass on the benefit of today’s favourable market conditions to the broker community they serve.”
Its discounts will apply in areas such as residential homes with business use, holiday homes, properties with flat roofs and unoccupied properties. It states that it will also be able to offer rate reductions from 10-20% during October for let properties on its Infinity platform.