Military Mutual targets insurance for small businesses
Military Mutual is set to offer commercial insurance packages to small to medium-sized companies owned by former members of the Armed Forces and their families.
Members of the RAF march past Buckingham Palace
Founder and chairman Major-General Sir Sebastian Roberts said it would launch the combined business insurance package, which includes employers’ liability, public liability and product liability, within the next two months.
Roberts, who mentored Prince William when he was in the Household Cavalry, said: “What our research found was that many veterans, people transitioning to civilian life, run their own businesses and they are not happy with what they get at the moment from insurers.”
Military Mutual is also holding talks with independent financial advisers about providing people who are leaving or have left the Forces with suitable financial advice.
Military Mutual is also holding talks with independent financial advisers about providing people who are leaving or have left the Forces with suitable financial advice.
Many veterans returning to civilian life aren't happy with what they are offered by insurers
Roberts said: “When people leave the Forces they have a deficit in financial knowledge. It would be lovely to be able to offer something to help make up for that.”
Military Mutual also wants to help former members of the Forces with their financial knowledge
The firm is also looking to offer home loans to its members through a tie-up with “experienced” mortgage brokers. Set up last May, it caters for the 20million current and former members of the Forces and their families that it says are not properly served by the insurance sector.