Insurance Brokers Professional Indemnity

Advising on risk and insurance can be complex and with the additional time pressure of renewals, compounded by clients’ endless pursuit of cheaper premiums, the risk of errors, miscommunication or even misunderstanding is increased for Insurance Brokers.

If an insurer repudiates a policyholder’s claim, for reasons justified or not (usually the issue is mis-representation or a breach of policy condition), particularly with larger claims, policyholders will elsewhere for recourse and their broker can sometimes be an easy target.

It’s therefore crucial that your brokerage has in place a comprehensive Professional Indemnity policy to ensure continuity of the business.

The Professional Indemnity market for Insurance Brokers has never been so challenging with waning insurer appetite, cover restrictions and premium rates increasing. Champion Professional Risks has access to a number of insurers writing insurance brokers professional indemnity and has the expertise to build the most appropriate insurance programme cost effectively whether focusing on the primary professional indemnity layer or excess layers.