British Insurance Services
 | |
| Company type | Trading Style |
|---|---|
| Industry | Financial services |
| Founded | 2003 |
| Headquarters | , |
Key people | Gary Duggan, CEO Paymentshield Limited |
| Products | Insurance |
| Parent | Towergate Underwriting Group Limited |
| Website | www.britishinsurance.com |
British Insurance Services is an insurance provider based in Southport, Merseyside, offering payment protection insurance and home insurance. The company is an online-only insurance provider which sells its policies independently of loan providers.[1] It is a subsidiary of Towergate Underwriting Group Limited, and had gross written premiums of around £12 million as of 2012.
History
The company was set up in 2003 by husband and wife Simon and Sara Burgess, under the name Burgesses.[2] It changed its name to British Insurance in 2005, after gaining permission from the then Secretary of State for Industry to use the word ‘British’ in the company title.[1]
In 2006 the company was reported to be insuring three sisters from Inverness, Scotland, against the possibility of a virgin birth. It had provided a £1 million policy to cover the cost of child-raising in the event of one of them giving birth to the Second Coming of Christ.[3] The company told BBC News Online that it had been donating the premiums of £100 per year to charity. It withdrew the policy in 2006 following complaints; Burgess said that the Catholic Church was "up in arms about what we've been doing".[3] The company also insured a football fan for £1 million against suffering severe mental trauma if England were knocked out of the 2006 World Cup prematurely.[4]
British Insurance was acquired by Towergate in 2008 for an estimated £25 million.[2] Existing staff, including the founders, were retained as part of the deal.[5] Simon Burgess continued as managing director until 2010. Following his departure, Nel Mooy was appointed as managing director.[6]
In 2013, the business was transferred within the Towergate Group and is now a trading style of Southport-based income protection and household insurance provider Paymentshield Limited.
Awards
The company's awards include:
2011
- The Money Awards: Outstanding Achievement Award.[7]
2010
- Personal Finance: Outstanding Online Insurance Provider.[8]
- Mortgage Finance Gazette: Best Overall Insurance Provider and Ambassador Award[9]
2009
- Mortgage Finance Gazette: Excellence in Treating Customers Fairly (financial service product provider category)[10]
- Investment International: Best Mortgage Payment Protection Insurance Provider[11]
- What Mortgage: Best Online Insurance Provider[12]
- Investment International: Best Overall Insurance Provider[9]
- Global Business Excellence: Outstanding Consumer Champion (Simon Burgess)[13]
References
- ^ a b "About Us". British Insurance Services. Retrieved 30 June 2010.
- ^ a b Milner, Leah (26 August 2009). "Simon and Sara Burgess to set up provider". Money Marketing. Retrieved 30 June 2010.
- ^ a b "Sisters lose second coming cover". BBC News Online. 22 June 2006. Retrieved 30 June 2010.
- ^ "Cup fan's £1m 'trauma' insurance". BBC News Online. 3 May 2006. Retrieved 29 June 2010.
- ^ Montia, Gill (24 January 2008). "Towergate acquires British Insurance". Insurance Daily. Retrieved 30 June 2010.
- ^ Meeson, Louise (3 March 2010). "British Insurance unveils new MD as Burgess heads to US". Insurance Age. Retrieved 30 June 2010.
- ^ "The Money Awards". Retrieved 7 April 2011.
- ^ "The Personal Finance Awards 2009 Results". What Mortgage. Retrieved 1 July 2010.
- ^ a b "Two more award wins for British Insurance". Mortgage Introducer. 12 November 2008. Retrieved 1 July 2010.
- ^ "Mortgage Finance Gazette Awards 2009". Mortgage Finance Gazette. Retrieved 1 July 2010.
- ^ "First 2009 award win for British Insurance". Mortgage Introducer. 13 January 2009. Retrieved 1 July 2010.
- ^ "Award Nominations 2009". What Mortgage. Retrieved 1 July 2010.
- ^ "Global Business Excellence Awards". Retrieved 1 July 2010.
External links