Thomas Cook Reports 398 million loss, check your Travel Company has Professional Indemnity & Buy holiday Protection Insurance

The well known travel firm Thomas Cook reports £398 million loss suggestions are that the company may close 200 of its underperforming stores.

The company also sold it Spanish hotel chain and Clubs de Vacaciones (ICU) for estimated £61million.

What the future for travel/companies and travellers always check that your supplier is covered for Professional Indemnity Insurance and that it is a member of ABTA or purchase holiday protection insurance, which will at least get you all home

Commercial Insurance Brokers

It looks like another tough time is going to happen in 2012, its likely that rates will harden in the short terms and for commercial brokers all ready struggling to keep 'GWP' up and make profit. Where are the new areas of growth going to come from both Insurance companies and insurance brokers are looking very carefully at where they might attach a market. With companies like AXA, Groupama and Markel all expanding their areas of operations into direct marketing and also new products such as Professional Indemnity Insurance, why this class has become so popular is hard to say with 20-30 plus companies all offering this type of cover. This makes it difficult for the insurance broker to satisfy all its insurance supplies with rates going down and down.

SME's Need to Consider Professional Indemnity

There are many small business that think there is no requirements for Professional Indemnity Insurance cover from both keepers, freelancers, IT consultants, disability consultants, business management consultants all who have a good reason to make sure that they hold Professional Indemnity Insurance. this would make sure that have in the event of a mistake where they could have been neglectful in their duties to their clients.

Several insurers have recently joined the main providers of PII companies such as Groupama and Aviva now offer SME mainly miscellaneous classes.

Markel has also decided to now extend its Professional Indemnity Insurance covers direct to the public via the internet.

Insurance News On Brokers

Very few 'Start up' brokers are now applying to the FSA for direct authorisation and one has to wonder with big brokers grabbing every opportunity to buy up existing smaller brokers where is the Insurance world going to find new distribution channels with motor insurance and home insurances all being grabbed up by the aggregators.

Most medium and small brokers have chosen to concentrate on commercial insurances such as property owners liability financial lives such as professional indemnity insurance to Directors and Officers Insurance, together with commercial combined type products.

The insurance companies are also very much to blame for not offering small 'start ups' the chance to yet establish themselves by setting ridiculous targets.

Professional Indemnity Insurance / New Online Providers

Professional Indemnity Insurance seems to now be one of the most popular commercial insurance classes being purchased via the internet.

With new providers appearing almost daily, the competition has hotted up for both sponsored links and unsponsored positions.  There are however, only a few B2C type multiquote offering, ie where you can get a choice of providers.  One website run by Professional Insurance Agents Ltd has more than 9 different suppliers illustrated on it's websites for Professional Indemnity Insurance, making it one of the very few online quote and buy facilities where clients can obtain a real choice of insurance companies offering this type of insurance.  It also has over 350 professions to choose from.