Brokers squandering £1bn, say Burgesses
MORTGAGE INTRODUCER - 17TH JANUARY 2004
By leaving household insurance deals to lenders, brokers are leaving aside ‘best advise’ and passing up nearly £1 billion in commissions each year, say insurance broker Burgesses.
Brokers could earn an average £660 commission and save clients over £1,000 over five years if they negotiated independent coverage, said Burgesses managing director, Simon Burgess.
“It is simply crazy to allow lenders to profiteer at our own and our client’s expense by selling second-rate policies with highly inflated premiums,” said Burgess.
