The Financial Intermediary & Broker Association (FIBA) has announced the launch of its own Professional Indemnity (PI) scheme for members in partnership with the PI insurance desk.
The new scheme comes with competitive premiums from an ‘A’ rated insurer, a simple application process and no administration fees, along with monthly premium instalments and quick and easy renewals.
It represents a ‘significant milestone’ in the development of the trade body, according to FIBA chairman, Adam Tyler.
He continued: “Putting in place our own block PI scheme is a major step forward to realising our goal of offering the most comprehensive range of member benefits.”
“Therefore, we are delighted to announce that after reviewing and assessing the PI propositions available for our members, we have found a service that fits perfectly in all aspects.”
Tyler said the FIBA Block PI Scheme offers the most competitive pricing while ‘ticking all the boxes for the key elements that would be expected to be part of a top-class PI package’.
“The PI Desk has undergone our most stringent due diligence and its service has been thoroughly tested along with a separate schedule investigation,” he added.
“We believe that between us we have created one of the leading solutions in the industry offering everything out members should look for in a PI policy, whilst also being highly competitive.”
Roger Crowther, managing director at the PI Desk, commented: “We have many years’ experience working in the Financial Services market, with Commercial Finance Brokers being one of our specialties.”
“It’s great to be supporting FIBA in launching a Professional Indemnity insurance scheme for its members and I know we can provide a fast, efficient and reliable proposition that will meet the expectations of all who work with us.”