Division will be led by ex-Towergate Underwriting PI head Peter Newson
Thistle Insurance, JLT’s managing general agency (MGA), is set to launch its new professional indemnity (PI) division on July 15.
The division will be led by Peter Newson who will be supported by senior underwriter Mark Richardson and sales manager Allison Britz.
All three were formerly part of Towergate Underwriting’s PI division, which was led by Newson.
The new PI division at Thistle will be focused on writing policies for professionals, including, engineers, surveyors, accountants, design and construct and non-recognised professions, such as zoologists or book keepers.
But the MGA will not write PI for solicitors or IFAs.
Products will only be distributed through brokers.
Newson said the PI team had also secured capacity with a number of A-rated insurers, under a binder arrangement.
The team plans to write between £12-£15m in gross written premium within three years.
Newson said: “They are quite strong numbers, but we know from our broker partners that the business is there.
“We are broadening out the proposition. As we grow the business out, we will have capabilities and a number of insurers.”
Newson started his career at JLT where he also worked with Thistle executive chairman Martin Hiller.