Paymentshield has announced a 10% increase in upfront commission available to brokers.
The general insurer has revealed a new commission option - ‘Enhanced Indemnity'- developed to provide intermediaries with more immediately available cash to help them through current testing times.
It will run in tandem with the insurer's existing commission options but can offer 45% upfront in year one and 15% from year two onwards.
Directly Authorised firms will be able to switch to Enhanced Indemnity via the Paymentshield website www.paymentshield.co.uk/enhanced while Appointed Representatives should contact their network in the first instance to discuss their commission options.
Paymentshield agents unsure about whether Enhanced Indemnity is right for them are invited to contact their Paymentshield to review the commission options available to them.
Paymentshield sales and marketing director James Watson said: "We are also continuing to offer our Commission Buy Out scheme which can provide businesses with a quick and easy cash injection by turning their future commission stream into a cash lump sum.
"By switching to Enhanced Indemnity after a Commission Buy Out businesses can quickly re-build their GI income stream and then once their commission earnings from new business sales have been built back up to the threshold level, they can simply repeat the whole process again."
