BIBA renews Lockton PI broker contract
22nd April 2014
The British Insurance Brokers' Association (BIBA) has renewed its Professional Indemnity (PI) accredited broker contract with Lockton Companies LLP for a further three years. Lockton has a long association with BIBA as a provider of professional indemnity insurance to our members for more than 25 years and will continue to provide a competitive, specialist resource for members as part of the BIBA panel of specialist PI providers.
Steve White, BIBA’s Chief Executive, said: “We are pleased Lockton are continuing to support this important scheme for members. Professional indemnity is a complex area and we stress to our members that arranging their PI should involve the guidance of a specialist PI broker.”
Neville Miles, Partner at Lockton Companies LLP, comments: “Lockton are delighted to continue our long association as one of BIBA’s accredited brokers for Professional Indemnity Insurance. Lockton’s primary focus is the provision of unrivalled client service quality, together with highly competitive policy terms and conditions. During 2014 we will be launching an exclusive PI facility which will offer BIBA members further options when considering the renewal of their Professional Indemnity Insurance’
The BIBA PI Initiative offers members help with professional indemnity insurance related risk and claims management and enables 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.
Notes to editors
1. For further information please contact:
BIBA press office:
Leighann Forsyth, Head of Communications
020 7397 0223
2. About 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 having merged with the Institute of Insurance Brokers (IIB) in November 2011.
General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.
53% of all general insurance is sold by an insurance broker and they arrange 81% 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 400,000 people a year to access insurance protection through it’s Find a Broker service, 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. BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards.