Professional Indemnity for Mortgage brokers and IFAs
Why do you need professional indemnity for insurance intermediaries?
Professional indemnity for insurance intermediaries is mandatory for mortgage brokers and Independent Financial Advisors (IFAs) who are regulated by the Financial Conduct Authority (FCA).
Mortgage advisers and IFAs provide specialist advice that comes with a risk of being held to account for a client’s financial loss should negligent advice be given. Professional indemnity for insurance intermediaries will protect your business if it is found liable for any compensation payable to the claimant, and any legal costs incurred defending the claim.
Having professional indemnity insurance (PII) in place to deal with these claims is essential to protect your business and reassure clients.
Risk management for insurance intermediaries
As well as providing protection should your business be liable for any compensation payable to your client, our services for insurance intermediaries also include risk management support; we can help mitigate day-to-day risks. At Marsh Commercial, we also have a dedicated in-house claims team to guide you through the process step by step to find the right resolution.
What can professional indemnity for insurance intermediaries do for you?
We have direct access to the UK's leading mortgage broker and IFA insurance providers, many of which we have exclusive arrangements with, giving us the ability to offer enhanced policy features and benefits.
Offering levels of cover to suit your business, the professional indemnity for insurance intermediaries product combines competitive value with the following additional benefits:
- Automatic renewal facility (subject to criteria).
- Capped excess.
- Free tax advice helpline for you and on behalf of your clients.
- Interest-free instalment facility.
- Dedicated claims team.
- Free 24-hour legal and counselling advice helplines for all partners.