Collegiate Underwriting – Committed to quality underwriting of Mortgage Brokers
If you are a Mortgage Broker seeking cost effective professional indemnity (PI) insurance from someone who understands your business, we can help you. PI insurance is compulsory for mortgage brokers and cover must comply with FCA minimum limits of indemnity: The indemnity limit must be at least the sterling equivalent of 1,120, 200 Euros for a single claim against the firm and 1,680,300 Euros in the aggregate Firms should always consider whether the above limits are appropriate for their circumstances, maximum limits can, of course, be extended upon request.
For a quotation
Please download and complete the proposal form on the right, or send a copy of your current insurer’s proposal to [email protected]. If you prefer to speak to the team please call us on 020 7459 3456.
- Direct contact with the underwriter
- Full FCA compliant cover
- Industry leading claims service
- Exclusive AXA policy
- A rated 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.
Runoff is an annually renewable policy, the premiums will usually reduce each year to reflect the reducing exposure to insurers.