AA Insurance, which sells its own branded policies underwritten by other companies, is still trying to strike a deal to replace MMI as underwriter on 250,000 household contents and buildings policies.
This week MMI announced that it had concluded a deal to transfer its local authority insurance to Zurich Insurance Group. The deal includes 200,000 contents and buildings insurance policies underwritten by MMI. It will continue to back the policies until their renewal dates when Zurich will offer policyholders new terms.
But all MMI policies sold through brokers and agents are excluded from the Zurich deal. One of the main agents is AA Insurance, which has thousands of motor and household policies either partly or wholly underwritten by MMI.
Cornhill Insurance recently agreed to take over 90,000 AA motor policies and will pay any claims from now on.
But AA has not yet found a company willing to replace MMI as underwriter on 250,000 of its household contents and buildings policies.
Meanwhile, anyone whose MMI-backed policy falls due for renewal is offered a quote from another company on the AA's panel of insurers.Reuse content