Empowering Brokers: Navigating Professional Indemnity Challenges with Confidence

Empowering Brokers: Navigating Professional Indemnity Challenges with Confidence

As the market changes, brokers find themselves navigating increasingly complex terrain when it comes to placing Professional Indemnity (PI) cover for their clients. At NBS, we recognise the unique challenges brokers face and are committed to providing robust solutions that empower brokers to serve their clients effectively.

In this article, we delve into the core aspects of our PI product, address common concerns, and highlight why NBS is the partner of choice for brokers seeking dependable coverage. Let’s explore how we’re enhancing the broker experience and ensuring peace of mind for both brokers and their clients.

Addressing Broker Concerns

We understand that brokers may encounter frustrations when trying to place PI business for their clients. To alleviate these concerns, we want to assure brokers that they can rely on NBS.

Here’s how we’re supporting brokers:

1 – Ensuring Solid Support and Capacity

All our Professional Indemnity policies are underwritten by experts at NBS. Our strategic partnership with Accelerant provides consistent capacity—a valuable asset in the MGA space. Strong underwriting standards and impressive loss ratio results bolster this capacity, allowing us to offer unwavering product solutions.

2 – Streamlined and Efficient Processes

Our PI products are available on an efficient online quotation system, optimising new business and renewal processes. We aim to provide brokers and their clients with a seamless and hassle-free experience.

3 – Comprehensive Professional Indemnity Solutions

We recognise the differing needs of your clients. We offer a comprehensive suite of professional indemnity products tailored to various professions and risks. Our range of PI policies include:

• Accountants
• Architects & Engineers
• Credit Brokers
• Design & Construct
• Insurance Brokers
• IT Consultants
• Property Professionals (Non RICS)
• Surveyors (RICS)
• Miscellaneous PI
• UK Excess PI

For micro risks, brokers can efficiently “quote and buy” directly through our system, with coverage limits of up to £2,000,000 per claim. Larger risks, extending up to £5,000,000, are expertly managed by our dedicated professional indemnity underwriting team.

Why Choose NBS for Your PI Risks?

High Rates of Commission for Brokers: We offer an enticing 20% entry-level commission to support brokers.

A-Rated Capacity: Our product benefits from A-rated capacity provided by Accelerant, ensuring the highest level of trust and reliability.

Range of Cover Limits: Cover limits range up to £5,000,000, catering to various risk profiles and needs.

Fast Turnaround of Quotations: We understand the value of time in the insurance industry and ensure a swift turnaround for quotations.

Experienced PI Underwriters: Our team of experienced professional indemnity underwriters provides expertise and tailored solutions.

Broad, Flexible Cover: Policies offer broad and flexible cover options, as primary or excess layer policies.

Claims Managed by PI Specialists: In the event of a claim, we’ve partnered with Caytons Law, experts in claims management for professional indemnity cases.

Free Advice Available: Complimentary advice on collateral warranties and appointments assists in making informed decisions.

Our Commitment

We launched the NBS PI product just over a year ago and we continue to be committed to providing exceptional professional indemnity coverage. With the full integration of The Underwriting Specialist last year and the backing of Accelerant, we are in a top position to serve brokers with excellence, offering comprehensive solutions and unmatched service.

Contact Us

Interested in learning more about our PI insurance products? Feel free to reach out to:

Teresa Yardley ACII

Underwriting Director, The Underwriting Specialist

Email: teresa.yardley@nbsunderwriting.co.uk

Greg Condon

Underwriting Manager

Email: greg.condon@nbsunderwriting.co.uk

Alternatively, visit our PI product page for more details and click here to get a tailored quotation.