PIA Blog
Latest News
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Wednesday, 22nd February 2012 8:26 am
Despite the recent period of geo-political turmoil, many economies are presenting increased growth opportunities for global energy firms, claims Marsh. On it… [more]
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Sunday, 19th February 2012 8:03 am
Legal & General’s group critical illness cover now includes cover for aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver fa… [more]
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Thursday, 16th February 2012 1:38 pm
Commercial insurer RSA has published new research that reveals that yob culture cost British businesses £9.8bn in 2011. Even more worryingly, the projected … [more]
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Tuesday, 14th February 2012 6:22 am
Mercer and Marsh have established a new brand for international markets outside the US. The move is aimed at addressing employee benefit cost growth around t… [more]
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Monday, 13th February 2012 11:16 am
Rob Gorton set up Lovefashionsales.com in October last year. The web site notifies customers when brands they like put items in their size on sale. [more]
Latest Articles
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Monday, 23rd May 2011 8:37 am
Solicitors to find it difficult to purchase their professional indemnity insurance [more]
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Monday, 16th May 2011 8:28 am
With the recent revelations with 'Sony' getting compromised with details of their clients personal details and credit card information being stolen, how does… [more]
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Wednesday, 2nd February 2011 12:07 pm
Insurance companies and brokers will need to embrace technology or find themselves being left behind. [more]
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Friday, 28th January 2011 8:33 am
There is a growing demand for Professional Indemnity with well over 180 different professions now using and applying for this type of insurance policy. [more]
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Wednesday, 5th January 2011 2:51 pm
The leading free multiquote and buy software for underwriters offering instant quotes for almost any insurance product including Professional Indemnity Insur… [more]
Its rather strange to think that despite USA and Canada being seen perhaps as the pioneers of the internet of trading goods and services that neither country have got to consider seriously the use of internet trading for selling commercial insurances such as Professional Indemnity or as more commonly known in the USA as ericsson omissions. Its even more unusual to Americans and Canadian companies to consider using the internet to purchase commercial combined office insurance, Public Liability or workers comp general liability insurance from the insurance broker offering a online quote and buy for SME insurance. Some companies have stepped there toe into the arena such as as hiscox who offer Professional Indemnity cover although there is one large broker in USA who claims to offer muliti Quote and Buy facility from a number of insurance companies using their platform. In the UK online trading brokers Professional Insurance Agents Ltd spokes person Graham Wallace the companies IT Chief Information Officer said we are now receiving quite a few inquiries from USA and Canada who want to develop Quote and Buy facilities offering quotes to their clients and for them to arrange test versions to present to underwriters and insurers.
With a recent visit to Bulgaria Professional Insurance Agents Ltd a leading online quote and buy UK broker have managed to start discussions with several top insurers and brokers about the possibility of selling insurance products via the internet. Although there are several websites that have attempted this there is a real problem with obtaining electronic signatures. Ellie Hearsey a sales person and Director of Professional Insurance Agents Ltd stated that the visit was very useful and after the meeting with 4 leading insurance companies and a well known commercial broker that we are set to explore the possibilities of offering motor insurance, professional indemnity insurance and travel insurance products which fits very well with our existing multi quote and buy system.
There is to be a conference on developing communication between insurance brokers and insurers worldwide on various commercial insurance products and claims procedures. ore recently David Cameron met with insurance bosses about the high level of insurance premiums said to be mainly because of claims being made against Car Insurers. llie Hearsey a director with Professional Insurance Agents Ltd said "that although a large amount of claims were hitting the insurance industry, this tended to be in retail insurance area rather than the commercial insurance sector such as professional indemnity insurance or public and employers liability although the commercial insurance sector is beginning to see more liability claims."
There are now more companies considering taking out Director and Officers liability insurance, as the claims culture in the UK starts to bite, the prime minister David Cameron is meeting with leading insurance company bosses about rising motor insurance claims that have gone up on average by around 17-20% because of bogus claims, the culture has also spread towards other insurance policies such as Directors and Officers insurance, public and employers liability and professional indemnity insurance, a spokesman Graham Hearsey from Professional Insurance agents Limited said that people seem to think just because someone or a company has an insurance policy its fair game to make a claim.
There are now a growing number of insurance companies offering professional indemnity insurance policies either direct to professions or via brokers. There are of course the traditional insurers such as Aviva, Hiscox, Markel, RSA, QBE, HCC, Brit but with the growing demand for new professions to hold professional indemnity insurance covers new players in this field like AXA and groupama have also put their tow in the water other supplier who traditionally perhaps dealt with larger corporate PII clients such as WR Berkley and Catlin also have been offering their policies for some time to the SME market. There are of course new players coming in to the market which brings the professional indemnity insurance rates to the most competitive that have been for many years.