PI Initiative

The BIBA PI Initiative offers members help with Professional Indemnity Insurance related risk and claims management.

BIBA has accredited providers giving members access to PI cover which meets the specific requirements of insurance brokers. A team of PI experts has additionally been appointed to provide members with specialist services including risk management, claims mediation and legal assistance.
The BIBA PI Initiative will enable members to:

  1. Obtain optimum protection for its professional liability risks.
  2. Fully appreciate the risks associated with being an insurance Broker.
  3. Avoid breaches of regulation and claims of negligence.
  4. Access specialist support in notifying, managing and negotiating complaints and claims.
  5. Benefit from an effective approach to liability risk management.

The BIBA PI Initiative has been created in response to feedback from our members and following wide consultation with stakeholders including PI underwriters, brokers, the FCA and the FOS. BIBA is committed to supporting its members in all aspects of broker practice and compliance and welcomes your comments.

Accredited Brokers

BIBA has appointed accredited providers to give members a competitive, specialist resource.

Each provider  is selected for their proven knowledge of professional indemnity insurance and the markets available. They represent both London and regional interests and, between them, a wide range of insurers representing a full cross section of the market.

There is no attempt by BIBA to promise the lowest premium and terms. This is a matter for each member to negotiate with the market but we are confident that the accredited providers have the skill and incentive to serve our members well.

Griffiths & Armour
Drury House, 19 Water Street, Liverpool L2 0RL
Tel: 0151 236 5656
Email: piinsurance@griffithsandarmour.com
Website: www.griffithsandarmour.com/

Click here to view Griffiths & Armour’s profile

Lockton Companies LLP
The St. Botolph Building, 138 Houndsditch, London, EC3A 7AG
Tel: 0207 933 2083
Fax: 0207 933 0739
Email: brian.boehmer@uk.lockton.com
Website: www.locktonaffinity.co.uk

Click here to view Lockton’s profile

PI Initiative Publications

PI Policy Wording Guide

The BIBA Guide to Professional Indemnity Policies assists members in understanding the complexities of modern PI insurance with the primary purpose of enabling members to be more secure in the knowledge that their PI policy will serve its intended purpose in the event of a claim.The Guide helps members to meet their own demands, needs and expectations and to appreciate the contractual obligations that are a pre-requisite to claiming indemnity.

The Guide includes:

  • Useful tips
  • Explanation of key policy clauses
  • Explanation of claims obligations
  • Common exclusions to cover
  • buyers check list

PI insurance is becoming increasingly complex and contains strict obligations on the Insured which, if not fulfilled, can result in loss of cover. In today’s regulated trading environment that is a risk that the BIBA member cannot afford.
Price – PI insurance is often bought on price alone it being difficult to distinguish between policies on offer the in market by any other means. The Guide will help you to assess and measure the value of the policy by explaining the differences between policies on offer.
Broker/Authorised Insurance Intermediary

For the purposes of this Guide the term “broker” is used throughout and is intended to mean broker or Authorised Insurance Intermediary.

Claims Advocacy Service

Full information for our Claims Advocacy Service can be found in our schemes section.

Enquiries to PI Initiative

For further information please contact

Graeme Trudgill
Executive Director
Tel: 020 7397 0218
Email: trudgillg@biba.org.uk

Solicitors Guide to PI

Guide to buying professional indemnity insurance