Chartered members of the Personal Finance Society (PFS) will get a 20% discount on professional indemnity (PI) insurance from Howden Insurance Brokers.
The PFS has negotiated two PI facilities that give Chartered firms a discount on quoted premium rates for comprehensive cover.
PFS chief executive Keith Richards said the move would highlight the many benefits of Chartered status. He added
Chartered status represented a significant lower risk for insurers and premiums should reflect that.
He said: "PI insurance has become an increasing concern for many advisers both in terms of cost and cover, and it is essential that they are able to secure the right cover at a good price with confidence.
"It is entirely logical that firms who can demonstrate higher levels of commitment to the delivery of better qualified advice should see a dividend regarding the cost of PI insurance."
Howden Windsor director Neil Pointon added "all too often price is the driver" when considering that policy to buy.
"Policy wording vary enormously. Not only have we worked to ensure these polices have the most comprehensive coverage but we have secured a significant discount for Chartered firms too."
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