The British Insurance Brokers’ Association (BIBA) has renewed its professional indemnity (PI) accredited broker agreement with Lockton for a further three years.
Paul Afteni, Head of Regulated Financial Services PI, Senior Vice President, – Global Professional & Financial Risks at Lockton said:
“Lockton remains the world’s largest privately held, independent insurance broker, and we are proud to continue our status as a BIBA-recommended professional indemnity (PI) insurance provider for a further three years. This extension will bring our partnership with BIBA to nearly 30 years at the next renewal. As a trusted adviser to BIBA’s members, we remain committed to providing PI insurance to the insurance broker profession through different market cycles, working to provide broad and competitive cover.”
Graeme Trudgill BIBA CEO adds: “Lockton continues to deliver trusted, expert guidance to BIBA members across all areas of their professional indemnity (PI) insurance. Renewing this partnership ensures members retain access to that valued support, alongside broad and high‑quality market capacity.”
As part of its suite of member benefits, BIBA has an ongoing PI initiative that offers members help with PI related risk and claims management. Information can be accessed by members via an online PI Hub where members can also reach out to the BIBA accredited PI brokers.
In addition, the initiative covers wider issues such as understanding the most common causes of claims, what measures can be taken to avoid them and how to arrange an appropriate policy for your brokerage.
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