Bristol's Finch Group has launched a simple, low-cost professional indemnity product for motor dealers.

The policy, underwritten by Hiscox, costs £105 per sales employee and involves answering just six questions, said Finch Group broking director Vince Gardner. "For those who are not main dealers, the proposal form has ten questions," he added.

"We reckon that it is the simplest form on the market, we are up against ten-page proposal forms with covers stretching into tens of thousands of pounds," said Finch.

Finch added that dealers taking out cover now would get 18 months cover for the price of 12 months. The limit of indemnity is £1.5m.

Gardner said that Finch would accept sub-broked business from GISC-accredited brokers.

  • Hiscox has launched a PI product for secondary intermediaries