’The broker PI market has faced significant challenges in recent times with the Covd-19 pandemic,’ says head of technical services
Biba has renewed its professional indemnity (PI) accredited broker contract with Lockton for another three years.
Trade body Biba’s ongoing PI initiative with Lockton offers members help and support on risks related to PI, as well as claims management support.
This supporting information can be accessed via Biba’s online PI Hub.
Independent insurance broker Lockton was founded in 1966 and has more than 57 years’ experience in supporting clients with PI exposures.
Mike Hallam, head of technical services at Biba, commented: “Biba is delighted to renew the PI agreement with Lockton for a further three years.”
Paul Afteni, senior vice president for global professional and financial risks at Lockton, added: “Lockton are proud supporters of Biba and its members and share a long history of working shoulder to shoulder with Biba to service their members’ PI needs.”
Post-Covid challenges
Afteni said the broker was excited to extend its partnership with Biba as “the profession navigates its way through the post-Covid PI insurance market.”
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Hallam added: “The broker PI market has faced significant challenges in recent times with the Covid-19 pandemic, but as we move away from that, robust and efficient risk management is still to the fore.
“Lockton’s expertise and experience in this area, which has served members well for many years, will continue to offer members the advice and information they need to secure a suitable placement for their PI insurance”.’
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