Tuesday, 11 December 2012

Article on Professional Indemnity Insurance

There has been a growing interest in the insurance policy Professional Indemnity Insurance from new and established businesses. The policy was originally brought together to cover the major professions and demand from regulating bodies such as the law society and chartered institute of accountants along with the (ARB) Architects Registration Board made it a requirement for their registered member to arrange covers and therefore solicitors, architects and accountant Professional Indemnity Insurance became compulsory.

Sometime later Insurance Brokers estate agents and Independent Financial Advisors regulators made Professional Indemnity Insurance a requirement for those professionals to operate their businesses.

As the demand for companies and their directors and officers to act in a more responsible way towards their clients so the PII policy became more popular, however, instead of perhaps being a nuisance and extra cost to the business, the insurance policy offered great protection to the company and its staff.

To give definition and have a fully explained Professional Indemnity Insurance policy and what it covers you for we can recommend speaking to a specialist PII broker they will without a doubt be the best option to obtain quotes and compare the different Professional Indemnity Insurance covers available for both traditional professions and contractors. We highly recommend not only going to one supplier to purchase your cover because there is a very wide choice of wordings available not to mention costs you may go on the internet to find quote and buy this type of policy however be careful because very few companies on the first page of Google can give you a selection of Professional Indemnity polices to select from. Most are direct insurers with only one option when you go to purchase.

There is only one company in the UK that can offer you up to 9 different (PII) insurers at once in around 60 seconds and although this is out company Professional Insurance Agents Ltd we do offer the wider choice both in price and policy wordings and are also a specialist broker in this area.

Monday, 10 December 2012

Google search engine rankings

Google search rankings

Professional Insurance Agents Limited specialist Professional Indemnity Insurance brokers wants to ask 'Google' why they have changed their ranking criteria for Professional Indemnity Insurance.  Having looked at the new first ten companies on the natural search lists, it seems very strange that at least 6 of the companies now shown on the unsponsored supporters of Google. 

You may forgive these new rankings if they were offering something special or a large choice of suppliers for Professional Indemnity Insurance, but the fact is that most are large corporate companies only offering one policy to businesses searching for this type of cover.

We are very much at odds as to why we have dropped from 1st place to 13th in less than 6 weeks, particularly as we have followed all the good practice guides that Google suggests, but more importantly we have 9 professional insurance company policies that can be brought from our website in an instant, more than any other broker or insurer can offer in the UK, so you have to ask yourself where is the client choice now as of 10 December 2012 Google?  Well it goes somewhat like this, based on current unsponsored positions:

  • Hiscox - A big sponsored supplier to Google, can only offer their PI policy
  • Simply Business - A big sponsored supplier to Google, choice of 4 policies, some of which are the same insurers
  • AXA - A big sponsored supplier to Google, can only offer their PI policy
  • Wikipedia - N/A
  • Morethan - A Big sponsored supplier to Google, can only offer their PI policy
  • Markel - A Big sponsored supplier to Google, can only offer their PI policy
  • Freelance - Sponsored supplier to Google, can only offer online RSA policy
  • PolicyBee - Sponsored supplier to Google, can only offer online Hiscox policy
  • Caunceohara - Again!, can only offer online RSA PI Policy
Please do tell Google, is it just our imagination or are you favoring your sponsored link carriers?  Whatever happened to the principal of fair play and is this really in the searchers interest to give them little to no choice?

Friday, 2 March 2012

Directors and Officers Insurance More Important to Protect Business

With massive amounts at regulations Directors and Officers insurances are now becoming an essential part of a companies insurance portfolio. Claims against both companies and their directors are becoming much more common than they used to be. Employees seen to now take ever opportunity to claim against there directors for such things as unfair dismissal, sexual racial discrimination, constructive dismissal health and safety etc. This does not include the long list of possible claims a director on a corporate level.

Friday, 17 February 2012

Insurance News in Brief

AXA get good results with a turn around on its 63 million losses in 2010. The company reported around £133 profit for 2011.
Large insurance broker Cooper Gay changed name its MGA oliva to 'Globe Underwriting'. The broker is itself is part of the Cooper Gay Swett and Crawford headed up by CEO Toby Esser.
The (FSA) Financial Services Authority is loosing its managing director Margaret Cole the Authority itself will be super seeded by a new regulator in 2013 by 2 new organisations the prudential regulation authority and financial conduct authority.

Thursday, 2 February 2012

Public Liability & Employers Liability Insurance Too Cheap

The current problem in the insurance market is the fact that rates for Public & Employers Liability is far too low and at present there seems little chance of the rates hardening commercial insurance rates have been at a all time low for 4-5 years specialist commercial brokers professional insurance agents ltd Director Lynn Hearsey states that in 30 years of trading she has never seen rates pro-rate so low. With products like professional indemnity insurance, directors and officers and public liability sold online this has driven down the pricing.