The real point of the story for IT companies and contractors, however, is that savvy clients will often require PI insurance cover, and if not look favourably on its existence, as a prerequisite for doing business.

Historically IFA's have been forced to download, print, and complete by hand lengthy forms sometimes running into 30 pages or more in order to obtain a price for their insurance.

We have obtained agreement with underwriters to accept a short form of 3 pages that can be completed and submitted on line. In addition underwriters have agreed that they will treat these enquiries as a priority and will endeavour to provide a response within 48 hours.

In order to obtain an indication of terms for your IFA PI insurance please visit the online short form for IFAs.

• SMEs that have switched broker in the last two years have largely done so on the basis of price
• Around 20 per cent of SMEs are considering changing their broker in the next 12 months for a cheaper premium
• Price-based competition in the SME sector is increasing

Further proof, if proof were needed, that there is value in having a broker available for advice.