DIP update

Insurer of the Default
Insurance Product, Jack
and Seach, has announced
concessions for agents
wanting to join the scheme.
“We’ve taken note of
the quick roll out of the
product and the resulting
potential for confusion
within the industry,” says
Charmaine Brogden.
Agents who, prior to Iata’s
new local financial criteria,
were not required to post a
guarantee with Iata but did
not make the March 1
deadline to enter the
DIP scheme and were
then required to post a
guarantee according to
those new criteria, will
now be allowed to enter
the scheme without
posting a guarantee.