For gap insurance, Swann rates of commission for the dealerships ranged from 40% to 51%.

These rates of commission were set by market conditions, Mr Bessell says.

71% of Swann gross written premium (GWP) is sold through car dealerships and finance brokers, while 29% is direct.

Over the last 10 years GWP totalled S1.07 billion, with about 10% of that amount paid out in claims. About 78% of claims were paid.