All insurance brokers and intermediaries carrying out a regulated activity in relation to contracts of insurance are required to be authorised by the Financial Services Authority (FSA).

Part of the requirement is that these firms must carry professional indemnity insurance with a minimum limit of indemnity of €1 million any one claim or €1.5 million 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.

Collegiate offer indemnity limits equivalent sterling to €1 million any one claim. Higher limits are available to suit individual firm requirements.

At Collegiate all our quotations are individually underwritten so you can be sure that the premium reflects your firm’s unique circumstance.

For further information on the cover we provide please click on our ‘ Insurance Brokers Fact Sheet’ opposite: