Advertisement by QPI Professional Renewal of PI cover is proving to be a real headache for most IFAs, however there is now a welcome relief.... The root cause of the problems many Professional Indemnity Insurers say they are facing has been well documented in recent months. But the true impact on IFA firms is only really being felt when renewal of their policy looms.  If an insurer offers renewal, IFAs can be faced with increased premiums and severe reductions in cover. For many, the common feeling is that they are being asked to pay for the problems created by others, for a product that they can’t trade without. So what's the answer? Whilst it’s a bleak outlook for some IFAs, for those who can demonstrate their quality and why they should be treated differently, there is light at the end of the tunnel. QPI is one of a limited number of specialist brokers who are still managing to offer PI cover at competitive prices.   QPI Professional, with their 14 years specialist knowledge, has secured a new arrangement with an insurer that is prepared to listen and understand what differentiates firms.  Using their expertise to best present each case, QPI is proud to say that they are achieving an 85% acceptance rate of proposals by underwriters. The proof is in the cover Prospect, a long established provincial IFA used the same general broker for 20 years and the same insurer for 15, paying an annual premium of around £25,000.  Following a decision to exit the market, their insurer declined to offer renewal and this information only came three weeks before the end of the policy, with no extension of cover permitted.  Whilst PI market prices varied between £50,000 and £100,000, QPI actually presented Prospect with alternatives between £26,000 and £32,000, dependent on variations to their cover.   QPI Professional were appointed by Prospect to place cover at just under £26,000, having decided to retain more risk themselves. Why QPI Professional? An independent, expert PI broker Specialises in the IFA sector More than 85% of IFA firms that we quote for choose QPI professional Direct relationships with key insurers Help is at hand Call QPI on 01604 712 222 or email info@qpiprofessional.co.uk or view our website at www.qpiprofessional.co.uk to find out how we can help you - Quote MM0133
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