Insurance intermediary Towergate has taken a decisive step into the online agency market by taking over Insurance 4 Car Hire Agents (I4CH).

I4CH, a web based agency which specialises in providing insurance products for the car rental market, will come under the jurisdiction of the Retail Division, headed by Amanda Blanc.

It provides cover, generally excluded in car rental agreements, for damage to tyres, windows, roofs and undercarriages of vehicles.

In a statement, Towergate, said: "The acquisition of I4CH provides Towergate access to a successful internet based business where all sales and fulfilment are carried out online.

"This will help Towergate strengthen its online capabilities and build its expertise further in the distribution of consumer products online."

Peter Cullum, executive chairman of Towergate, added that I4CH was a business that had a "great track record" and it was another "great signing for Towergate".

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