Aon Risk Solutions has signed a deal with AXA Commercial Lines to provide professional indemnity insurance (PII) for independent financial advisers in the UK.
The product will be distributed through a sales team and Aon's UK branch network.
Aon said the launch of the policy follows research the company conducted suggesting IFAs are frustrated by the length of time they spend filling in proposal forms and the limited number of options available to them for PII.
"Our research highlighted that IFAs were dissatisfied with both the lack of choice in the market and the paperwork involved in obtaining a quote, so we worked with AXA to bring in new capacity and streamline the process," said Aon Risk Solutions director Andrew Gough.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected