NCG Professional Risks, the specialist provider for professional indemnity insurance (PII) for advisers, has announced that it is to offer preferential terms to all advisers that can offer efficient compliance, a dedication to professional qualifications and on-going education and training plans.
The group had previously offered the terms solely to users of Bankhall Investment Associates, as it was felt they were the only group available to the market that offer a viable compliance management option to the industry.
Neill Cotton, joint managing director of NCG, said: "We appreciate that over the past few years there has been an increasing number of compliance management firms established and it is therefore entirely appropriate that firms should be able to select the service provider that best meets their requirements."
David Brattesani, founding partner of threesixty Services, said: "The big advantage is that where it was seen by many advisers as a Bankhall facility, it is actually an NCG one. Advisers were of the opinion that if they left Bankhall they would lose access to the preferential terms facility. Now they know they can go and get better terms elsewhere."
He adds: "This gives advisers more freedom and power to pick and choose the best terms from a range of providers, where they previously had the terms enforced upon them. We have been working with the NCG for three years and now over 200 of our customers have access to the new facility."
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