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Insurance Brokers
All insurance brokers and intermediaries carrying out a regulated activity in relation to contracts of insurance are required to be authorised by the Financial Conduct Authority (FCA).
Part of the requirement is that these firms must carry professional indemnity insurance with a minimum limit of indemnity of €1,300,380 any one claim or €1,924,560 aggregate and an allowable excess of:
- £5,000 or 3% annual income for firms holding client money and assets; or
- £2,500 or 1.5% annual income for firms not holding client money and assets; or
- a higher excess where the firm holds additional capital.
Pii Brokers provide FCA compliant cover for insurance brokers, combining excellent advice with a broad range of markets.
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Please call us if you wish to discuss your specific requirements Tel: 020 7375 9883.
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