04 January 2019

Helping you to keep your renewal business coming back

We appreciate that sometimes you need some flexibility from insurers to help keep valuable customers at renewal.

That's why we're keeping our 2018 retention scheme running into 2019. It gives you the ability to discount a customer’s Legal & General renewal rate (subject to the terms below) so you can remain competitive and keep their business.

Here's a reminder of the details

You can now price-match our renewal to another insurer’s premium, providing that the price is not lower than Legal & General’s undiscounted new business rate.

Please continue to use the code Renewal18 in your software system to take advantage of this new scheme. This facility is designed to help you renew policies with Legal & General that would otherwise be lapsed and placed with an alternative insurer. It is not an automatic discount that can be applied to all policies.

 Please note:

  • If the new business is a decline then no discount to the renewal is allowed.
  • This replaces the previous discounting facility where you could offer discounts subject to the number of claim free years.
  • This does not supersede any current in force, bespoke renewal arrangements as agreed by Legal & General for your brokerage.
  • This discounting facility is valid until 31 March 2019, however we reserve the right to amend or withdraw at any time.

 

If you have any questions, please get in touch with your Legal & General contact.