Howden UK, an independent Lloyd's broker, has created a professional indemnity scheme for clients operating under UKAS accreditation.
Howden said it recognises the benefits this provides in terms of being able to quantify the client's risk profile and thereby obtain a more accurate pricing for the cover required.
Matthew Reed, a director at Howden UK, said: “Developing these tailored schemes provides insurers with access to potentially profitable new lines of revenue.
"Those with less long-tail exposure tend to be more willing to look at the riskier lines of business, but they're unlikely to proceed unless there is some tangible evidence that the sector under consideration has recognised quality standards. This is where UKAS accreditation can really make a difference.”
