Electronic Covernotes
What is Electronic Cover Notes?
imarket is the UK General Insurance industry portal run by Polaris U.K. Ltd on behalf of the participating insurers. It aims to bring intermediaries and insurers together by creating the infrastructure via which brokers and insurers can trade efficiently, securely and effectively.
An initial study was carried out by Polaris to determine how best insurers could provide electronic covernotes to their intermediaries via imarket. This service is seen to be of value for commercial lines, and of use for personal lines business where a broker's system is unable to provide a covernote.
Electronic Cover Note (ECN) Service is an imarket service, which enables the secure request and delivery of cover notes for private motor (inc motorcycle), commercial vehicle and motor fleet insurance.
The ECN service is published to the imarket services index and then made available to intermediaries by insurers in the normal way. Registered imarket intermediaries can access the service and request a covernote for a specific insurer and product.
There is no charge to an intermediary for use of the ECN service, however, registration and membership of the imarket community is a prerequisite.
Available products using ECN:
- Private Car/Power Point Club (excluding Collector's Car)
- Premier Bike
- Your Van/Premier Van
- Taxi
- Farmers
- Special Types and Agricultural
- Motor Trade
- Fleetwise
- Minifleet
- Premier Truck
- Home and Drivers Private Car
- Home and Drivers Premier Bike
- Home and Drivers Your Van
the following products are currently excluded:
CGU, CGUI and CGU Bonus products, Collectors Car and London Taxi will not be included.
