Specialist professional indemnity underwriting agency PI Direct...
Specialist professional indemnity underwriting agenc, PI Direct is to expand its insured professions through its subsidiary PI Brokerlink.
The company will now cover secondary intermediaries such as motor traders, retailers, opticians, dentists and hire firms, all underwritten by Hiscox.
The secondary intermediary market represents a potentially large pool of new clients for the company, said PI Direct.
It will insure those firms which have a tried and tested system of selling insurance products on behalf of recognised insurance providers, who themselves have applied for FSA regulation.
PI Direct said it is offering FSA compliant cover up to £1.1m in the aggregate. Current premiums are based on minimums within income bands.
It will not be marketing direct for this business, but will accept broker-introduced business through its broker arm PI Brokerlink.
PI Brokerlink is quoting for policies now, it said, with cover to commence on 14 January 2005.
