Magian Underwriting has secured a professional indemnity (PI) deal with Accord.
The deal gives Magian exclusive rights to offer PI products to Accord's independent financial advisor (IFA) clients.
The contract has been arranged in conjunction with HTC Associates.
David Tucker, director of HTC Associates commented: “The new agreement between Magian and Accord is a very positive move for the market. It will also help provide a stable, competitive and flexible professional indemnity solution for Accord's clients. The implication of efficient compliance standards is of huge benefit both to advisers and insurers.”
Accord managing director Bob McKie said: “As specialist compliance consultants we normally focus specifically upon FSA compliance issues. However, we are very aware of just what important and emotive issue PI insurance is to the IFA and intermediary community. This is an excellent opportunity for our client firms to obtain compliant PI cover for a very competitive price, along with first class, professional, back up support.”
Glyn Morris, director of Magian Underwriting said: “This new facility is another example of Magian's focus on the benefits of high quality compliance processes and I am delighted to be able to offer preferential premiums and terms to Accord clients.”
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