Biba renews PI broker agreement with Lockton

Biba has renewed its professional indemnity (PI) accredited broker agreement with Lockton for a further three years. 

Paul Afteni, head of regulated financial services PI and senior vice president for global professional and financial risks at Lockton, noted that the deal brings its partnership with the trade body to nearly 30 years at the next renewal.

He said: “Lockton remains the world’s largest privately held, independent insurance broker and we are proud to continue our status as a Biba-recommended PI insurance provider for a further three years.

“This extension will bring our partnership with Biba to nearly 30 years at the next renewal. As a trusted adviser to Biba’s members, we remain committed to providing PI insurance to the insurance broker profession through different market cycles, working to provide broad and competitive cover.” 

‘Valued support’

As part of its suite of member benefits, Biba has an ongoing PI initiative that offers members help with PI-related risk and claims management.

Information can be accessed by members via an online PI Hub where members can also reach out to the Biba accredited PI brokers.

Graeme Trudgill, Biba chief executive, said: “Lockton continues to deliver trusted, expert guidance to Biba members across all areas of their PI insurance.

“Renewing this partnership ensures members retain access to that valued support, alongside broad and high quality market capacity.”