New PI Product Launched For Solicitors

Leading law firm Browne Jacobson has teamed up with insurance brokers NTEGRITY to develop a unique new product in the solicitors' professional indemnity market.  Vindico is a premium product aimed at firms that do not select PI cover solely on the basis of price and who value their claims record.

Ed Anderson, head of professional indemnity at Browne Jacobson in London, has recognised a gap in the market and has worked with NTEGRITY on the scheme.  He said: “Many firms have become disenchanted with insurers' approach to settling bad claims purely on economic grounds, particularly where the settlement falls within their excess.  Additionally, many insurers now handle the claims in-house and there is a growing perception amongst policyholders that this is not done with a sufficiently rigorous or independent approach.  We believe there is a strong appetite in the market for this type of product that will appeal to firms looking for a more bespoke level of cover.”