Tenet has launched a more "affordable" professional indemnity (PI) insurance scheme for directly authorised members, one month after the financial regulator published a review criticising some areas of the PI market.
Tenet's new scheme will be delivered in conjunction with Lloyds-registered insurance broker Protean Risk and offer advisers "high quality insurance with realistic excess levels at affordable premiums", the firm said. Director Mike O'Brien (pictured) said: "At a time when a worrying number of advisers are struggling to obtain satisfactory cover - or indeed any cover at all due to insurers hiking excesses, expanding exclusions to unreasonable levels and increasing premiums exponentially - we have addressed the issue by negotiating preferential terms for TenetSelect customers" He added: ...
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