First City contract ends after three years
Biba has appointed Howden Insurance brokers to its professional indemnity panel to provide coverage to its members as existing insurer First City steps aside.
Both Biba and First City said the decision to end their arrangement after three years was mutual.
Biba said it was impressed by Howden’s existing book of UK brokers and insurance intermediaries and its experience in business critical risks.
Technical and corporate affairs executive Graeme Trudgill said: “Howden presented a compelling bid, demonstrating itself more than capable of fulfilling our requirements for accredited brokers.
“Professional indemnity is a complex area and we stress to our members that arranging their PI should not merely be seen as a tick box exercise. The accredited broker panel has been developed to give them access to the highest possible standards of cover and service and Howden has proved that it shares these standards, so we are delighted to welcome them to the panel.”
Howden’s UK professional risks director Richard Wynn said: “We are extremely pleased to be asked by BIBA to join the panel. We know how highly it values the interests of its members and to be selected as an accredited PI provider is an honour.”
Richard Bowdidge of First City said the company will now focus on new corporate strategies and target markets.