Brokers Professional Indemnity – MUM

MUM’s BIBA- accredited product allows members the flexibility of a direct access non-advised quote from Manchester Underwriting Management. MUM has partnered with CGPA Europe since 2016. CGPA have specialised in writing almost nothing but insurance intermediaries’ PI for over 85 years. Having specialised in just one profession, CGPA has built a deep technical knowledge of the dangers insurance brokers face and the insurance cover they need. Following Brexit, the business is now written by  Great Lakes Insurance SE (GLISE, rated Very Strong AA- by S&P), with whom we have worked closely for many years. CGPA will remain intimately involved and fully supportive but now as a reinsurer. MUM, BIBA and CGPA have designed a policy with practical, real protection to brokers including comprehensive support to avoid potential PI claims.

Key benefits to members

–  Loss of client cover – if your business makes a loss in its P&L because of your losing a client following
the payment of a PI claim, MUM will indemnify you up to £25,000 for that loss (exclusive to BIBA
members)

–   Fidelity automatically covered (exclusive to BIBA members)

–   Covid-19 cover considered on new business and renewals

–   Dedicated Covid-19 helpline provided by  Mills & Reeve LLP

Key benefits of our service

–  Legal support in respect of your clients’ problem claims from Mills & Reeve (before a claim against you arises)

–  No contracting out of the Insurance Act 2015

–  No ‘basis clause’, no warranties or conditions precedent

–   Broad protection against innocent non-disclosure

–  Late notification protection

–   Civil liability cover including defamation, dishonesty, loss of client money and joint ventures

–   Regulatory investigation costs

–   Automatic binding authority cover

–   In-house claims handling team, to provide advice and assistance on claims and circumstances

Provider

Contact – MUM
Richard Webb

Address
Manchester Underwriting
Management Link House
St. Mary’s Way
Chesham
HP5 1HR

Telephone
01494 770 700

Email
[email protected]

Website
www.manchesterunderwriting.com