Firms vary dramatically in size and services, from small sole practitioners offering specialist services to multinational publicly quoted Lloyds brokers offering a multiplicity of insurance related services.

With effect from 14 January 2005 the insurance industry has been regulated by the Financial Services Authority (FSA). Under their regulation it is now a mandatory requirement that professional indemnity insurance be purchased and maintained in accordance with their rules. Details of these rules are available on request.

What do Insurers look for?
First and foremost evidence of FSA registration. No insurer will provide cover to a non regulated broker. Secondly qualifications or relevant experience. If a broker is unqualified (ACII/FCII) then insurers will want to see a c.v., normally demonstrating at least 5 years relevant experience.

Pinsure Ltd. has access to niche market insurers, not readily available to other general brokers, who offer FSA complaint professional indemnity insurance on an innovatively rated basis by way of a generous and unique ‘no claims discount’ provision which provides highly competitive premiums for brokers with clean or good claims records. Special additional discounts are made for niche market and wholesale brokers. This facility avoids you having to pay for other broker’s claims by being unfairly tarred with the same rating brush. You are able to benefit from a genuine no claims discount and reduce your costs on this compulsory insurance requirement.

To ensure that your current insurers are indeed offering you the best terms available please allow us to obtain an alternative quotation for you under this facility at the time of your next renewal without any obligation. Should your current insurer’s terms prove, in our opinion, to be preferential to all other alternatives we will confirm this by giving you best advice at all times.

To enable us to provide you with this service we will need you to complete and return the relevant scheme proposal form.

All information provided to us will be treated with the strictest of confidence and will be shared only with potentially interested insurers. You are under no commitment to purchase an insurance product and no charges will be made against you until such time as you formally accept a quotation that is offered to you.

A proposal form and questionnaire are available in Adobe Acrobat format by clicking the links below. Please complete and send/fax or e-mail to Pinsure Limited.

You will need Acrobat reader to view PDF files. Please visit the Adobe website where you can download it for free.

For more information of how the up and coming FSA requirements may effect you please visit there website by clicking the link below: