THB to take on PI policies
THB Professional and Financial Risks has launched a new delegated underwriting authority (DUA) for professional indemnity insurance with CNA Insurance.
The new DUA will allow THB to quote new business and renewals in-house.
Kate Lewis, broking director of THB UK professional and financial risks said that 'whilst we developed an exclusive rating engine with CNA over a year ago, we decided to take the next step allowing us to provide a better service to our clients and producing brokers, with an even swifter turnaround time on renewals and new business enquiries which fall within the parameters of the DUA'.
Features of the DUA include in-house quoting of renewals held with CNA up to three months in advance of expiry, and immediate quoting by THB of new business within the SME sector for a broad selection of trades.
Other features include immediate confirmation by THB of coverage bound whether quoted in-house or during one of THB's standing appointments with the underwriting team at CNA, and immediate noting and confirmation on behalf of underwriters of any administrative changes to a policy.
Complementing this DUA is a new suite of CNA Policy wordings, unique to THB clients, which expand on the already broad coverage offered by this Insurer.
Tina Booth, CNA Europe’s Professional Indemnity Manager for UK and Ireland advises, said: "CNA are excited to be involved in this joint initiative with THB, this represents an excellent opportunity for all parties enabling us to provide outstanding service, superior wordings and competitive premiums to our mutual clients.
“With the premiums at rock bottom in the SME market place this partnership will enable us to sustain profitability and ensure service and exposures are not forgotten.”
