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Coverzones Secures New Investment

(PRLEAP.COM) Coverzones, the newly launched online marketplace for SME business insurance, has secured new investment from Le Mans Holdings plc; thus marking the successful completion of Coverzones’ second round funding which will finance the company through a period of rapid growth.

Le Mans Holdings plc is part of MMA IARD Assurances Mutuelles, one of the leading insurers in France and shares the same parent company as MMA Insurance; one of the carriers currently offering public liability and employers liability insurance via the Coverzones online platform.

Le Mans Holding takes a minority shareholding in Coverzones, an investment which entitles them to a seat on the Board of Directors where they will be represented by Garry Fearn, UK CEO of MMA Insurance.

"Coverzones provides insurers with a unique gateway into the previously hard to reach UK online SME market", says Fearn. "They are well positioned to become the one stop shop for UK small businesses; providing a wide range of cover for a multitude of professions. We look forward to supporting Coverzones in their ongoing efforts to build and secure their position in the market".

Alan Hamilton steps down from his position at the end of the month to focus on his role as Chief Executive of Equipos Ltd. Alan Hamilton remains a Coverzones shareholder.

"Companies under the MMA IARD Assurances Mutuelles umbrella both invest and participate in the Coverzones online marketplace", states Simon Ball, CEO of Coverzones. He continues, "MMA Insurance will continue to provide quotes on the same terms as any other carrier and Coverzones remains committed to providing small business customers with up to 6 of the best commercial insurance quotes available with a high quality service to match."

This latest announcement comes after a series of important developments at Coverzones which opened its doors for trade in June 2008, providing small business insurance quotes online to the 4.5 million SME businesses in the UK.

Ball concludes, "It’s been an eventful month and we’ve reached some major milestones. Our work however has only just begun and to achieve our aggressive growth plans we need to continue to develop our business proposition for UK small and medium sized businesses".

For more information or to apply for a small business insurance quote online please go to:- http://www.coverzones.com/quotes/

About Coverzones

Coverzones is a start to finish proposition, catering to the specific business insurance needs of UK SME’s. Launched in June 2008 and with over 700 trades covered, Coverzones already has the support of the UK’s leading insurance providers including Allianz, AIG and WR Berkeley. An FSA regulated company, Coverzones provides small businesses with a free online comparison service. Users simply fill in one form online, detailing their specific requirements and the Coverzones service does the rest; displaying up to 6 competitive quotes with each new enquiry. At just one click of button, customers can click and buy the policy which best suits their specific business. A free MyCoverzones account is also available, so there is no need to re-key information year in year out. The convenience of a MyCoverzones account allows users to store all their small business information in one place, saving both time and money. Full quotation and policy documents delivered can all be saved and downloaded using the Coverzones electronic end to end solution.

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