Press Release

Paymentshield reports a 23% increase in personal possessions cover take-up as the number of muggings rises

New figures released today by Paymentshield, the largest independent supplier of mortgage related general insurance products to the intermediary sector, reveal that there has been a 23% increase in the take up of personal possession cover over the last 12 months.

With the number of muggings on British streets up by 8% from last year¹, Paymentshield's figures show that people are really taking action to cover themselves for theft of their personal belongings. But with only 50% of all B&C policies now including this cover option, a large proportion of the market remains unprotected.

Paymentshield is calling on intermediaries to help ensure that people are fully informed about the different cover options available as part of their B&C policy.

Chris Traynor, Sales and Marketing Director at Paymentshield comments: "It is good to see that more and more people take up a personal possessions cover as part of their B&C policy. The increase in muggings clearly highlights how important it is to make sure your personal belongings are covered outside the home.

"Most people never really realise how much they carry around in their handbags and pockets until they have to count their losses - it is not simply a question of keys and a wallet anymore. Items such as iPods, mobile phones, designer sun glasses and handheld computers all add up.

We are pleased to see that more and more intermediaries are advising on and selling this valuable cover to their customers. For as little as £1 a month their customers can make sure they are fully covered should the worst happen."

For further enquiries call 08450 615 700

-ENDS-

Notes to Editor:

Paymentshield's figures relate to the percentage of Buildings & Contents policies sold by intermediaries with an add on of a Personal Possessions Cover option and show an increase from 29% in July 2005 to 52% in July this year.

¹Bristish Crime Survey 2006

Paymentshield Limited is the largest independent supplier of general insurance products to the mortgage intermediary sector with current new business levels consistently exceeding 30,000 policies a month. Paymentshield only sells through intermediaries and over 27,000 intermediaries have chosen Paymentshield.

For all further enquiries, please contact:

Fiona Kitchin
Head of Marketing
Tel - 0870 351 5878
Mobile - 07989 960 166
E-mail - fiona.kitchin@paymentshield.co.uk

Inez de Koning / Anna Schirmer
Lansons Communications
Tel - 0207 294 3623 / 0207 294 3605
E-mail - inezd@lansons.com / annas@lansons.com