Norwich Union increases maximum sum assured for term business
Tue, 14 Oct 2008
Norwich Union, part of the Aviva group, has raised the upper sum assured for its protection offering. The insurer says the maximum sum assured for term business has been raised from £20m to £50m.

For businesses with a sum assured of more than £1.5m, Norwich Union’s large case team will offer a bespoke service which will include contact within two working days of receiving the application. There will also be a named point of contact for updates, at a frequency and method that has been agreed with the adviser and a price and commission-matching service.

According to Norwich Union, the team will now be able to consider requests written on non-standard terms, for example those which are outside the normal age, medical or sum assured limits.

Trevor Bailey, director of protection for Norwich Union, said: "The protection gap stands at a staggering £2.3trillion, and Norwich Union continues to look for ways to help people get both the personal and business cover they need."
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