ated individually, with the net rate to the agent based on the level of business each does, or is likely to produce, for the company.
However, director Steve King promised that any rate agreed will ensure that every travel agent who works with the company this year will be better off.
“We are prepared to make that guarantee because agents are very important to us and we want to give them as much support as possible to compete against the direct-sell companies,” he said.
Euclidian is a founder member of the Truly Independent Professional Travel Organisation and the consortium’s only travel insurance provider.
The intermediary has also pulled all its travel policies into one document this year to make transactions easier for agents to handle and issue.
King said this could also benefit agents if the General Insurance Standards Council goes ahead with plans to raise retail sales standards for those selling more than one policy.
The new document, which contains all the policy wording and a chart to explain how pre-existing medical conditions could affect the insured person’s cover, pulls together single trip, annual multi-trip, winter sports, long-stay and business travel insurance.
Clients simply choose what they want – say an annual business travel policy – and whether they require Supreme, Comprehensive or Essential cover.
These offer the same medical, personal accident and personal liability cover, at £5m, £20,000 and £1m respectively.
But other limits do change. Cancellation stands at £5,000 under Supreme, £3,000 for Comprehensive and £1,000 for Essential.
There are separate sales leaflets for each level of cover so agents can opt to sell Supreme, Comprehensive or Essential only.
Other new features include the addition of scheduled airline failure as standard, to a maximum £1,000 payout, and bungee jumping cover on all policies.
EUCLIDIAN Risk Management has adopted a flexible pricing policy for 2000 – a system already adopted by airlines and some ferry operators.
It means that Euclidian, the new name for JS Insurance Management Services since the start of the year, is not publishing any rates for agents.
Instead, these will be negotiated individually, with the net rate to the agent based on the level of business each does, or is likely to produce, for the company.
However, director Steve King promised that any rate agreed will ensure that every travel agent who works with the company this year will be better off.
“We are prepared to make that guarantee because agents are very important to us and we want to give them as much support as possible to compete against the direct-sell companies,” he said.
Euclidian is a founder member of the Truly Independent Professional Travel Organisation and the consortium’s only travel insurance provider.
The intermediary has also pulled all its travel policies into one document this year to make transactions easier for agents to handle and issue.
King said this could also benefit agents if the General Insurance Standards Council goes ahead with plans to raise retail sales standards for those selling more than one policy.
The new document, which contains all the policy wording and a chart to explain how pre-existing medical conditions could affect the insured person’s cover, pulls together single trip, annual multi-trip, winter sports, long-stay and business travel insurance.
Clients simply choose what they want – say an annual business travel policy – and whether they require Supreme, Comprehensive or Essential cover.
These offer the same medical, personal accident and personal liability cover, at £5m, £20,000 and £1m respectively.
But other limits do change. Cancellation stands at £5,000 under Supreme, £3,000 for Comprehensive and £1,000 for Essential.
There are separate sales leaflets for each level of cover so agents can opt to sell Supreme, Comprehensive or Essential only.
Other new features include the addition of scheduled airline failure as standard, to a maximum £1,000 payout, and bungee jumping cover on all policies.