Verity Adams - Exclusive

Ace European Group (Ace) is set to launch a professional indemnity (PI) product on the Imarket portal.

The PI cover has been designed for small businesses and sole traders with revenue up to £350,000 a year.

It will be rolled out this month to become available to brokers on the secure trading portal, operated by Polaris.

Mark Whitehead, Ace European Group's e-commerce manager, said: "Imarket is an extremely valuable distribution channel and with it now offering simple and convenient access to a new PI product, brokers are set to enjoy a greater level of choice.

"Comparison engines are a significant vehicle in the online space for doing business and so it is crucial to our industry that Imarket continues to grow.

"The portal's highly efficient user administration provides insurers with access to a large number and wide range of brokers."

The company is already planning to offer directors' and officers' (D&O) cover online by the end of the year.

Peter Knowles, strategy and marketing director at Polaris, said: " The company's commitment to the success of Imarket will help cement its future as a key trading solution at the heart of the commercial lines industry."