Deal will provide capacity to UIB and its clients
United Insurance Brokers (UIB) has agreed a binding authority deal with after the event (ATE) legal expenses insurer Elite Insurance Company to underwrite solicitors’ professional indemnity (PI) insurance.
The deal gives UIB and its clients access to the Elite solicitors’ PI capacity, and makes UIB one of the few brokers in the market to have its own capacity directly available for clients.
Elite chief executive Jason Smart said: “We are well known in the solicitors’ market for our ATE insurance, but we have wanted for a while to extend this into a professional indemnity. Simon Lovat and the team at UIB have great expertise in this area, and a client book to match; so this binding authority works for both of us, as well as bringing extra capacity into the market, and giving solicitors’ another route to the PI insurance that they need.”
UIB’s UK business executive director Stephen Palles-Clark said: “Capacity is limited in the solicitors’ PI market at present, and we welcome the opportunity to give our clients access to Elite, and the experience and skills that they bring to the profession.
“In addition, having our own binding authority confirms, UIB as one of the leading broker in the solicitors’ PI market. This along with Elite’s experience in the solicitors’ marketplace makes them a good partner for us and our clients.”
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