Rapidinsure.co.uk, the UK online insurance website, is to offer professional indemnity (PI) insuranc...
Rapidinsure.co.uk, the UK online insurance website, is to offer professional indemnity (PI) insurance for IFAs this summer.
The move follows the recent inclusion of PI on the site for other professionals such as IT consultants, media and marketing consultants, accountants and brokers.
Rapidinsure said that cover for IFAs is taking slightly longer to develop due to the high incidence of claims in this area, but should be available at some point soon.
The site's current range of products, offered by specialist PI insurers Hiscox Insurance Company, Charrington's and PI Direct, can be tailored to meet the needs of a specific profession, providing industry-relevant clauses as well as standard benefits such as civil liability, fidelity and loss of documents.
The service allows the applicants to be insured online in under three minutes, with a quote provided after five straightforward questions have been answered. Once the premium has been paid, the cover note is immediately sent to the applicant via e-mail. The service also offers a 24-hour dedicated helpline plus e-mail support.
Richard Dunbabin, managing director of Rapidinsure, said: "No one is perfect, which is why it is important to take out the right level of professional indemnity. With the range of insurance on offer, consultants and professionals from a range of trades can obtain industry-specific protection instantly online."
