The incentive is due to go live from the beginning of October and according to Tenet distribution & development director, Helen Turner, it is part of an on-going plan to: “make excesses more closely related to risk profiles and reward positive conduct.”
Turner believes that Tenet are the only network to offer such a saving and has confirmed that both investment and non-investment advisers will also benefit from improved excess terms.
She said:
“Working closely with our Guernsey-based subsidiary, Paragon Insurance, we can encourage specific behaviour and respond with complete flexibility to market demands.”
“Advisers benefit from significant potential savings and, as a network, we are promoting and rewarding higher standards, in line with the primary aims of the RDR.”
