Previously the products were sold by the broker using a schemes model
Aon is planning to roll out some of its professional indemnity (PI) products, mainly for the SME market, through its MGA, Maven.
Previously the products were sold by the broker using a schemes model by profession type that was backed by an insurer.
But now several schemes have been pulled together and will operate through Maven, with capacity provided by Novae, Argo and other Lloyd’s syndicates.
The new offering will provide cover for accountants, architects, engineers, surveyors and solicitors, as well as cover for miscellaneous errors and omissions business.
The schemes businesses will enter into run off in the coming months.
Initiatives director for Aon’s specialist professional services group Luke Hamm said: “The professional indemnity market has experienced a turbulent history and we wanted to create a solution that gives clients and carriers more certainty and stability.
“We have worked closely with selected Lloyd’s syndicates to develop a facility that delivers a long term solution for our clients, including solicitors in England and Wales.”