Lloyd's broker Humphreys Haggas Sutton & Co (HHS) has launched an online professional indemnity (PI) scheme for motor traders.
The scheme, hhs-e-solutions.com, enables motor traders to secure PI cover after completing an application process. All policies will be underwritten by WR Berkley.
Motor traders who sell insurance products need PI cover as a condition of FSA authorisation.
HHS director Simon Haggas said: "The scheme covers motor traders for the mis-selling of insurance products. The system is simple and easy to navigate - and the cover is cheaper than that offered by competitors in the market. The scheme is designed for access by dealers direct or by any broker."
Haggas added that the scheme could be extended to travel agents and general retailers.