Launch of iCarhireinsurance.com

iCarhireinsurance.com has launched today with a pledge to take the jargon, hassle and expense out of hire car insurance by offering policies that are;

— Cheaper than those sold at car rental desks

— More comprehensive than those sold at car rental desks

— Can be used with all car rental agreements worldwide

— Simple…quick and easy to choose and buy

iCarhireinsurance.com offers great value and great savings. With prices starting from just Pounds Sterling 2.99 for daily policies and Pounds Sterling 39.99 for annual cover it aims to help millions of drivers to save money.

Many car rental companies charge as much as Pounds Sterling 9.99(i) a day for their excess insurance and most don’t include cover for damage to the roof, tyres, windows or undercarriage. With iCarhireinsurance.com, customers can save as much as Pounds Sterling 100 on excess insurance for a two week rental and will benefit from cover that is excluded from most other policies including insurance for damage to all parts of the car. They will also be insured when hiring a car in the UK, even within 25km of their home, something that most other policies do not cover.

iCarhireinsurance.com also offers its annual policy holders the option to buy excess cover for car club use for an additional Pounds Sterling 19.99 a year, a saving of almost Pounds Sterling 130 on that offered by Streetcar.(ii)

With https://www.icarhireinsurance.com/, policies can be bought online quickly and easily. Customers simply select whether they want excess cover for Europe or Worldwide, or fully comprehensive cover for USA & Canada or Worldwide. They then select either daily or annual cover. If they need to claim on the insurance they simply provide the relevant documentation and will be refunded the excess charges paid to the car rental company.

The USA & Canada policies are not only better value than those available at most car rental desks, but offer even more security, with cover for Road Rage, Carjacking, Travel Expenses, Hotel Expenses, Drop-off charges, and 60 days continuous cover for any one rental agreement at no additional charge.

———————————————————————– —– Excess Europe Excess Worldwide USA and Canada Worldwide Plus —————————————————————————- Daily From Pounds From Pounds From Pounds Sterling 2.99 Sterling 3.99 Sterling 4.99 N/A —————————————————————————- Annual From Pounds From Pounds From Pounds From Pounds Sterling 39.99 Sterling 59.99 Sterling 109.99 Sterling 129.99 —————————————————————————-

iCarhireinsurance.com also offers a selection of add-ons that provide extra protection should the customer require it, including Personal Accident, Personal Effects Cover, Vehicle Rental Cancellation Insurance, Additional Policyholder and Vehicle Key Replacement.

Halo Insurance Services Limited was founded by Ernesto Suarez, a leading insurance professional with over 10 years’ experience in the industry, and is backed by Bridges Ventures and Magenta Partners. Bridges Ventures is an investment company whose commercial expertise is used to deliver both financial returns, and social and environmental benefits. Key backers include the co-founder and former chairman of Apax Partners, Sir Ronald Cohen, 3i and Doughty Hanson. Magenta Partners are a highly entrepreneurial team committed to investing capital in growth businesses. Its principal founder and investor are the Tom Singh Family Trusts – Tom Singh is one of the UK’s leading retail entrepreneurs.

Ernesto Suarez, CEO, www.iCarhireinsurance.com, said “Many people find car hire insurance confusing. They end up spending a fortune at car rental desks, or find themselves with a huge excess bill at the end of their holiday after a small chip to their windscreen. In fact, with many policies not covering the most vulnerable parts of the car, you could easily get hit with both!

“But it needn’t be that way. At iCarhireinsurance.com we’ve worked hard to create a range of policies that are cheaper and more comprehensive than those offered by car rental companies. Our website has been designed to cut through the insurance mumbo jumbo, making it easy for customers to find the cover they need and buy the right policy at the right price.”

Halo Insurance Services Limited has been shortlisted for Best Business Start Up of the Year in the LinkedIn European Business Awards 2010. http://www.linkedinbusinessawards.com/Nomination/Details/239

Notes to Editors

(i) Prices compared with two weeks cover from a car rental desk average price Pounds Sterling 9.99 a day. Prices correct at July 2009.

(ii) Streetcar charge Pounds Sterling 14.95 per month for excess cover and Pounds Sterling 149 a year.

Founded in 2009, iCarhireinsurance.com is a groundbreaking new online insurance service that takes the jargon, hassle and expense out of hire car insurance by offering policies that are cheaper and more comprehensive than those sold at car rental desks, can be used with all car rental agreements worldwide, and quick and easy to choose and buy.

iCarhireinsurance.com is a registered trading name of Halo Insurance Services Limited. Halo Insurance Services Limited was founded by Ernesto Suarez, a leading insurance professional with 10 years experience in the industry.

Halo Insurance Services Limited is registered in England number 6929208. Authorised and regulated by the Financial Services Authority Register No. 504629 for the sale and administration of general insurance products in the United Kingdom and throughout the European Economic Area (EEA).

Halo Insurance Services Limited is backed by Bridges Ventures and Magenta Partners.

Bridges Ventures is an investment company whose commercial expertise is used to deliver both financial returns and social and environmental benefits. Bridges Ventures’ key backers include the co-founder and former chairman of Apax Partners, Sir Ronald Cohen, 3i and Doughty Hanson.

Four funds have been raised to date: Venture Funds I & II, the Bridges Social Entrepreneurs Fund and the Bridges Sustainable Property Fund.

Venture Fund I totaled Pounds Sterling 40m while Venture Fund II totaled Pounds Sterling 75m, beating its original target of Pounds Sterling 50m by 50%, and was closed in 2007. The Venture Funds invest in businesses based in regeneration areas and in sustainable business sectors such as the environment, education and healthcare. Bridges Ventures typically invests up to Pounds Sterling 10m at a time in ambitious, entrepreneurial businesses including early stage, development capital and management buy-outs. So far, Pounds Sterling 60m has been invested in 31 companies, many of whose employees have come out of long-term unemployment. To date there have been five successful exits: Harlands in Hull, SimplySwitch in South London, HS Atec in Yorkshire, EB2 in South London and IDL in Bournemouth.

The Bridges Social Entrepreneurs Fund is an innovative financing solution that is tailored to the needs of ambitious social enterprises. The fund has so far raised Pounds Sterling 8.5m and invests in the form of equity-like capital, which shares in the risks but also the returns of social enterprises. Investments are coupled with hands-on advice and support to help the social enterprises realise their potential.

In November 2009, the Bridges Sustainable Property Fund was launched with initial equity commitments of Pounds Sterling 26m. The Fund will invest in properties in regeneration areas and environmentally sustainable buildings that have potential to make strong financial returns as well as delivering social and environmental impact.

For more information please go to www.bridgesventures.com

Magenta Partners are a highly entrepreneurial team committed to investing capital in growth businesses. Its principal founder and investor are the Tom Singh Family Trusts – Tom Singh is one of the UK’s leading retail entrepreneurs. The team is small and brings a strong record of professional investing with over 12 years worth of investment experience encompassing 15 investments and 20 acquisitions. Typically Magenta targets opportunities requiring investment of up to Pounds Sterling 15 million in development capital, buy out, recapitalisation and project finance opportunities. Magenta is comfortable with both majority and minority equity positions and is a sector generalist. For more information visit www.magentapartners.com or email [email protected]

Contacts: Media Enquiries Roan Media for iCarhireinsurance Cath Roan 0208 333 5870 or 07801 817 451 [email protected] HB Communications for Bridges Ventures Tom Hampson-Bellon 020 7637 2780 [email protected] HB Communications for Bridges Ventures Antonia Coad 020 7637 2780 [email protected]

SOURCE: iCarhireinsurance