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Financial Advisers & Mortgage Brokers Professional Indemnity
Providing bespoke risk management advice and Professional Indemnity insurance, to help mitigate and protect you from the risks you face.
Professional Indemnity tailored to your needs
Your firm’s Professional Indemnity Insurance (PII) policy is not a commodity. PII is a compulsory requirement set by the Financial Conduct Authority (FCA) for all Financial Service Advisers. When it comes to buying PI insurance for your firm, your broker is the key to achieving the best terms, so it is important to work with a specialist broker that truly understands your world.
At Howden we are perfectly placed to service clients looking for a real alternative in a market where choice is diminishing.
Our Financial & Risk Advisers team is one of the largest specialist insurance broking teams in the sector, acting for more than 40% of the financial advisory Professional Indemnity market and representing one-third of the top 100 financial advisers in the UK.
With over 30 years’ experience, we are well established and highly regarded within the market and our experts can provide you with balanced advice as well as agile solutions for most eventualities.
3 reasons why financial advisers choose Howden
Trusted by many
We act for 40% of independent financial advisory firms in the UK
Established in market
We place over £160m of premium into the PII market each year
Excellent claims advocacy
Over 30 in-house Legal, Technical & Claims experts
Our market approach
From the moment you retain the services of Howden, you will benefit from one cohesive and experienced team.
Bespoke client service
Our clients are at the heart of everything we do. We understand that each financial adviser firm is a unique business. As such, we will tailor our services to provide bespoke solutions designed to meet your own specific requirements. We constantly review our services to ensure they evolve and cater for the ever changing risk environment in which you operate.
Benchmarking
You can’t manage it if you don’t measure it. Our leading position in the sector provides us with a significant bank of data. By analysing this data we are able to glean considerable insight and provide peer group benchmarking for our clients. We can use this to unearth unique insights into your specific risk profile, performance, programme structure and insurance expenditure.
Renewal strategy
For us, a passive approach is not an option. We influence the terms obtained by representing you with knowledge, clarity and passion. Prior to your renewal we will establish your strategic priorities and set goals before negotiations commence. We also embark on a familiarisation exercise with Insurers, enabling all parties to understand in detail the professional risk profile of the firm.
Insurer engagement
Howden is one of the largest providers of premium to PI insurers enabling us to leverage options for our clients, helping you to make an informed choice.
Our specialist claims service
We know that dealing with insurance claims has the potential to be time consuming and frustrating which is why we've designed our claims service to make things as straight forward for you as possible.
Our in-house claims handling team are at the heart of our business and are a crucial part of our offering. The team is fully embedded into your service, working side-by-side with the client management team so that you receive a responsive, tailored and efficient service.
We believe in complete transparency and having open and regular dialogue with you. In the event of a claim or potential claim we will guide you through the process from start to finish. Your dedicated claims handler will advise you on whether a claim is covered, explain insurer positions in non-technical language, and devise a strategy to successfully and efficiently resolve the claim.
30+ claims specialists
on hand to guide, manage and advise on notifications and claims
20,000
claims notifications handled on behalf of IFAs in the last 4 years
Claims data analysis
that helps identify trends and avoid pitfall
How we can help you
✓ Providing advice on what is notifiable and shaping any notifications to make sure they’re on the right track from the outset;
✓ Stepping in if any coverage issues arise and advocating with insurers to ensure that the maximum cover under the policy is obtained;
✓ Offering risk management advice in order to prevent any coverage issues from arising and providing ‘best practice’ advice with claims examples to help reduce the risk of claims;
✓ Keeping up to date on legal or regulatory changes and providing guidance in relation to claims trends, particularly using the first hand claims data that we collect;
✓ Publishing a variety of relevant thought leadership articles throughout the year to help keep you up to date.
They care about protecting their insureds' interests and getting the best results out of a claim. How a claim is handled is the best form of advertisement for a broker and that is why so many businesses have remained with them year on year.
What our clients say about us:
We engaged with Howden following the sudden withdrawal of our existing insurer from the PI market. They personally assisted the progression of our application from day one and immediately demonstrated a level of professionalism, understanding and integrity that we had not previously experienced. Ultimately, Howden helped us secure very competitive terms within a tight timescale.
Howden have been our PI broker for the last two years and we have found them to be excellent. They clearly understand our business and are cognisant of the risks. Their expertise in the marketplace helped us secure the right terms in a challenging market. Howden’s personal approach to their clients, both in terms of renewal and dealing with complaints, has been central to building our relationship.
Three things distinguish the Howden claims handling team from the competition; firstly their knowledge – they are genuine specialists with a complete understanding of the challenges facing their clients and the environment in which they operate. Secondly their skill – in dealing with difficult situations whether it be in relation to coverage or otherwise, they know their business and the market respects them for that. The third is they care - about protecting their insureds’ interests and getting the best results out of a claim.
Meet the team
Executive DirectorChris Davies
LinkedInExecutive DirectorChris' team of expert brokers specialises in Professional Indemnity for Financial Advisers, Accountants, and Insurance Brokers. They always work hard to get their clients the right cover for the right price. And Chris' deep understanding of risk management means that he can help clients mitigate their risks as well as insuring against them.
Executive DirectorIain Middle
LinkedInExecutive DirectorWith nearly 30 year' experience, Iain is an expert in his field and has worked with some of the largest Financial Advisers in the UK.
Executive DirectorPaul Gillet
LinkedInExecutive DirectorPaul has over 25 years’ experience securing Professional Indemnity insurance for his clients. Based in the Bristol office, he and his team support financial and construction professionals with insurance, risk mitigation, and claims management.
Divisional DirectorRobert Bass
LinkedInDivisional DirectorWith over 30 years experience, Robert has worked with some of the largest Financial Advisors in the UK. Robert focuses on the claims issues facing our clients' business and uses his extensive experience to negotiate with insurers and produce the best outcomes.
Senior Claims ExecutiveTracy Simpson
LinkedInSenior Claims ExecutiveTracy has over 30 years insurance industry experience, specialising in handling professional indemnity claims on behalf of IFAs, but also has experience handling a wide range of other professions. Tracy assists clients in dealing with insurers when claims arise, including advising clients and advocating on their behalf in the event of any coverage issues.
Frequently Asked Questions
In the event a third party claims to have suffered a loss, usually a result of professional negligence, financial advisers can be held liable for any damage or cost incurred. Professional Indemnity Insurance is there to cover you, as the individual, or your business of these costs. It is for this reason that purchasing PII is a compulsory requirement set by the Financial Conduct Authority (FCA) for all Financial Service Advisers.
Claiming promptly helps us defend your best interest and we're ready to guide you through the process and offer support where needed. To make a claim, head to claims notification form.
