Broker SBJ Professional is offering one of the few markets for actuaries' professional indemnity (PI) cover.

SBJ Professional managing director Chris Ladkin said: "The market for actuaries PI is very restricted, but we've found a new vehicle to take on the majority of our actuaries PI business."

Ladkin would not identify the market as he said it could result in the underwriter involved being "bombarded by brokers".

"Many actuaries have found themselves in a situation where they could be potentially exposed without cover," Ladkin said.

SBJ has been the official broker for the Institute of Actuaries for the past four years. But Ladkin welcomed direct approaches from independent actuaries.