Biba 2012: QBE launches new PI combined product

QBE has launched a new professional indemnity combined product on its e-trading platform, Fastflow.

The product has been designed to meet the insurance needs of professional SMEs.

Professional Combined has been added to the existing range of products available from QBE under Fastflow, including Business Combined, Tradesman and Office.

The PI Combined insurance will offer up to 13 different coverage sections under one policy. Professional indemnity will be the only mandatory section of the policy, but there will be the potential to add on buildings and contents, including business interruption, directors’ and officers’ liability, employers’ liability, and public and product liability cover.

The product will be available to a group of 600 trades operating in both emerging and traditional business areas. These include: IT and media risks, estate agents and small accountancy practices.

QBE European Operations head of SME David Greaves said: “I am pleased that QBE is today able to extend its comprehensive SME e-trading offering into professional indemnity.

“Our discussions with brokers tell us that there is strong demand amongst clients for easy to understand, comprehensive products that cover their entire risk profile.”

“By offering this product through our e-trading platform, we are responding to this demand in a cost effective and efficient manner,” Greaves added. “We will continue to develop and refine our e-trading capability so that we can offer real scale and quality distribution channel for our brokers across the UK.”