Nsure has achieved savings of 27% by using UKGI's new professional indemnity (PI) scheme.
The south coast broker's managing director Phil Bristow commented: “It's great to see the benefits of UKGI's compliance service being recognised by insurers as reducing their risks and even better that this has translated into such a large cost saving for our business.”
UKGI launched its new PI scheme last month in conjunction with McParland Finn and Ace Insurance.
UKGI sales and marketing director Shaun Godfrey said: “The scheme takes into account the lengths to which UKGI and its members go in seeking to achieve a high standard of FSA regulatory compliance and reflects the fact that this reduces the risk of claims being made and subsequently paid.
“Professional indemnity insurers have always found it difficult to differentiate accurately between firms in terms of quality and risk profile – until now.”
The PI scheme is designed to accommodate all UKGI members including those who have some exposure to marine, aviation or financial service risks, together with members who operate delegated authority arrangements.
