BIBA expands its panel for members’ own PI insurance

11th February 2016

The British Insurance Brokers’ Association is pleased to announce that a new Professional Indemnity (PI) insurance facility, insured by CGPA Europe and underwritten and managed by Manchester Underwriting Management Limited in association with MGB Insurance Brokers Limited, has been accredited to provide cover to its members.

The panel for members’ PI now comprises MGB Insurance Brokers Limited, Griffiths and Armour and Lockton and the new accreditation enhances the choices available to BIBA members for their own PI insurance needs.

Graeme Trudgill, BIBA Executive Director said; “Our membership is very diverse, has varied PI insurance needs and had called on us to seek more PI capacity under this facility. CGPA Europe specialises in providing PI cover for insurance intermediaries and has a Standard and Poor’s rating of A- (Stable). It already deals with over 15,000 intermediaries in Europe and combining its technical knowledge with the UK sector expertise of Manchester Underwriting Management will give our members even more choice when considering their PI requirements.”

Charles Manchester, Manchester Underwriting Management CEO added; “BIBA wanted to offer a wide choice of PI providers for its members and we were delighted to work with them to create a solution using CGPA Europe, who really understands this class of business. It is not only essential to get the cover that suits a particular broker’s needs, but PI insurance is also a requirement for insurance brokers. We are offering exclusive BIBA member wordings and benefits including Hacker cover, Loss of Client and Fidelity cover and are open for business right now, directly or through the member’s chosen broker.”

Eric Evian a Managing Director, Business Development at CGPA Europe said; “CGPA was created in 1930, purely to offer specialist PI policies to insurance intermediaries and this was a perfect opportunity for us to enter the UK intermediary PI market with Manchester Underwriting Management, our partner. We know the class, it is our business, and we’re in it for the long term. We’re looking forward to working with BIBA and on this new facility.”

Trudgill concluded; “Our accredited broker panel has been designed to give BIBA members access to high standards of service, expertise and protection when placing their all-important PI insurance cover and we are sure members will find the facility invaluable.”

ENDS
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Notes to editors

1. For further information please contact:
BIBA press office:
Pam Quinn, Communications Manager
020 7397 0223
quinnp@biba.org.uk
2. About the British Insurance Brokers’ Association
The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.
BIBA membership includes just under 2,000 regulated firms.
General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff. 54% of all general insurance is sold by an insurance broker and they arrange 79% of all commercial insurance business.
Insurance brokers put the client’s interests first, providing advice, access to suitable insurance protection and risk management.
BIBA helps more than 250,000 people a year to Find-A-Broker, both online and via the telephone.
BIBA is the voice of the industry advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.