IFA Professional Indemnity Insurance
The market for Professional Indemnity (PI) insurance for IFAs has never been more challenging, with insurer appetite reducing, capacity withdrawing and rates rising significantly.
Griffiths & Armour’s entry into the IFA sector builds on our success in the Insurance Broker market. In recent years, we have launched a number of schemes designed to meet the particular needs of Insurance Brokers and in 2013 were awarded accredited PI Broker status by BIBA.
We bring a similar approach to the IFA sector – our proposition is focused on those firms who have a best practice and compliance based culture at the very heart of their business. For such firms we offer a tailored proposition, with cover underwritten by our small panel of quality insurers, focused on delivering the service and proactive claims support that well managed IFAs deserve.
Our approach is essentially to differentiate those firms who have already taken positive action and have established effective systems and processes that underpin the best practice culture which minimises the risk of claims occurring.
Griffiths & Armour have been advising clients on PI insurance and risk management for many years, developing a highly regarded specialism in PI insurance as a result of advising over 3,000 professional firms in the UK and Ireland.
Our ability to identify trends allows us to design insurance cover responsive to an ever-changing environment. Our insight is shared with our IFA clients through an integrated and complementary insurance and risk management proposition.
Tailored risk management in the form of advice, publication of our ‘Lessons to be Learned’ claims examples and ‘Best Business Practice’ seminars covering hot topics, claims trends and changes in the regulatory landscape is part of our inclusive service.
Our overall objective is simple - to help IFAs reduce the likelihood of claims occurring and to minimise the financial impact when they do.
We have a deep understanding of both the risks faced by IFAs on a day-to-day basis and the resource and time pressures they face. With that in mind, the need to create space and opportunity for IFA’s to continue to service and advise their clients even when claims arise, is addressed by our provision of specialist proactive support and personal involvement in claims management.
Our dedicated IFA in-house claims team works with both our clients and insurer partners to reduce avoidable costs when claims occur, providing professional advice and guidance, along with access to first class solicitors even where a claim is within the excess.
We have developed an exciting new relationship with Phil Dibb (of compliancy advisory firm DW Regulatory Consultants and Compliance News Ltd) to offer their Premier Service clients advice on the placement of Professional Indemnity cover and establishment of effective risk management practices. If you would like to learn more about the services they provide, please click here to subscribe to their newsletter and keep up to date with the latest regulatory news affecting your industry.
Contact us for a Professional Indemnity insurance quote:
To obtain a Professional Indemnity insurance quote or discuss your current arrangements then please contact our IFA Professional Indemnity insurance team on 0151 236 5656.
Why Choose Us?
Contractual Risk Management
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