Professional Indemnity Insurance for Mortgage Brokers
Since 2011 we have been arranging professional indemnity insurance for Mortgage Brokers and other finance professionals. Whether you are an established firm or a new-start, we have a specialist knowledge of the professional indemnity insurance requirements for Mortgage Brokers and will help you find the best Insurer for your business.
What's covered by professional indemnity insurance for Mortgage Brokers
Policy wordings vary, but these are examples of the types of issues that are generally covered by professional indemnity insurance for Mortgage Brokers.
- Negligent advice or recommendations. Examples include the wrong product type or loan term, an unsuitable lender, inappropriate interest rate type or a failure to consider the client’s circumstances which leads to a financial loss for the client.
- Errors and omissions. This includes administrative mistakes such as incorrect figures, missed information on applications or a failure to action instructions that directly result in a financial loss for the client.
- Breach of professional duty. A breach of duty of care in arranging or advising on a mortgage, including a failure in suitability assessments or affordability checks (to the extent they are part of the mortgage broker’s role and within the policy wording).
Getting a quote for professional indemnity insurance
Professional indemnity insurance for Mortgage Brokers is usually purchased from a specialist broker. A good broker can lower the premium cost as well as providing valuable advice and support throughout the insurance period, especially in the event of a claims. We have provided professional indemnity insurance quotations to hundreds of firms, from new starts to multi million pound businesses.
We provide comprehensive professional indemnity insurance for mortgage brokers. Dedicated support team, tailored cover and risk management resources for your business.
We specialise in providing professional indemnity insurance for mortgage brokers and many other professions. We have a range of options available and our policies are tailored to meet the specific needs of the industry.
Why choose PIIB
- Competitive
- Tailored cover
- Premium Instalments
- Dedicated Account Manager
- Fast service
- No annoying telesales people
- FCA-compliant policy wordings
- Free risk management resources
We work closely with both newly authorised and well-established firms, providing not only the right policy, but also support in understanding your exposures and improving your risk posture. Our goal is not just to arrange your cover but also help you avoid claims.
Our experienced team can help you navigate the complexities of the professional indemnity insurance markets and to provide you with the coverage that is right for your business. We also offer risk management resources and services to new and established firms helping you minimise your risk and avoid potential claims.
To request a quotation complete the Quotation Request form, or if you'd just like an informal initial conversation please call us on 0345 251 4000. We don't have any pushy telesales people, just insurance expects who will answer your questions.
This guidance note is intended for information purposes only. Whilst all care has been taken to ensure the accuracy at the time of writing, it is not a reliable substitute for specific insurance advice. For advice about this topic, please contact us or your current brokers. This guidance note shall not be reproduced in any form without our prior permission. © Professional Indemnity Insurance Brokers Ltd