Collegiate Underwriting – Committed to quality underwriting of Compliance Consultants
At Collegiate we have developed a dedicated professional indemnity (PI) policy for Compliance Consultants. Collegiate have been providing PI solutions for over 30 years and have an unrivalled experience managing and defending claims in the financial services industry.
Market pressures mean that clients are becoming more litigious. Our bespoke policy protects compliance consultants and their clients in the event that the client sues for compensation following the service provided
In todays heavily regulated world, compliance with ever changing rules is a daily feature of business, especially financial services businesses. As one of the UK’s leading underwrites of financial services businesses we understand the regulatory environment and the risks faced by firms that operate within it as well as the crucial role played by compliance consultants.
For a quotation
Please download and complete the proposal form on the right, or send a copy of your current insurer’s proposal to firstname.lastname@example.org. If you prefer to speak to the team please call us on 020 7459 3456.
- Direct contact with the underwriter
- Broad civil liability cover: – should a claim arise from a breach of professional duty, perhaps by giving incorrect advice or making an error in your work then anything that isn’t specifically excluded is covered
- Full FCA compliant cover
- Limits of Indemnity up to £5 million
- Coverage – cover is included for criminal defence costs relating to any regulation or statute which applies to your business, for example Ombudsman cover
- Cover for outstanding fees, fidelity and loss of documents
- Compensation for court attendance Industry leading claims service
- A-(Excellent) policy security
All PI Insurance is on a claims made basis, that means you must have an active PI policy at the time a claim or allegation is made against you. It is important to remember that once a PI policy expires you can no longer make any claims against it. Therefore you need to consider maintaining your PI insurance once you cease trading. This is called Runoff Insurance and provides protection against any claims which may arise from work you undertook in the past. Some professional Institutions require their members to carry Runoff insurance.
Runoff is an annually renewable policy, the premiums will usually reduce each year to reflect the reducing exposure to insurers.