PI push on back of Martello acquisition
Royal & SunAlliance (R&SA) has launched a professional indemnity cover for small and medium sized enterprises (SMEs).
The insurer said that through its recent acquisition of Martello Underwriting, a leading provider of PI cover to SMEs, it was now able to extend its offer to a wider range of professions in the SME market.
In addition to PI cover, which protects a business's interests against claims for error or professional negligence, the policy can be extended to include legal expenses insurance, employer liability, public liability, and directors and officers liability.
The insurer said: "R&SA will work across the whole range of professions, from the most traditional (e.g. accountants and surveyors) through to contemporary professions, such as IT consultants and management consultants, providing PI cover up to £2 million. The continuous policy significantly improves the renewal process, and premiums can be paid by interest-free monthly direct debit."
Aaron Devitt, Director of Professional and Financial Risks at R&SA, said, "At R&SA, we're completely committed to shaping our business around our customers, and acquiring Martello was a key step towards this. Martello's great experience with smaller businesses has allowed us to develop our PI proposition for SMEs.
"We remain committed to monitoring and understanding the changes occurring in our customers' industries and recognise that each business has its own specific needs. We'll continue to work with our clients to develop products to fulfil these requirements."