City of London based Prime Professions have been appointed as the new brokers for the Council for Licensed Conveyancers’ (CLC) Master Policy Scheme following a formal tender. The specialist professional indemnity insurance (PII) broker will provide a service team headed up by directors Robin Bayly and Martin Ellis, experienced professionals with several decades of experience in the PII market between them.
Unlike solicitors, licensed conveyancers are required to place their insurance through a single broker who manages the whole process.
Mr. Ellis commented:
“The firm is extremely proud to represent the CLC and we look forward to delivering genuine value and innovative solutions to the challenges faced by the Regulated Community. Despite the short time since taking custody of all files and claims, all members of the Regulated Community will be successfully renewed prior to 31st August. Looking forward we wish to build strong relationships with each member of the Regulated Community, providing advice in relation to their risks in addition to arranging their professional indemnity insurance.”
Simon Blandy, Director of Policy and Standards at the CLC said:
“A commitment to ensuring the best possible value and service for both the CLC and its licence holders resulted in an invitation to tender for the appointment of broker for CLC’s master policy, in which the then brokers, CJ Coleman, participated. Prime Professions Ltd were appointed as the new broker with effect from 1 August 2011. Insurers agreed to a short extension of the policy to enable Prime Professions to agree amended terms to the Master Policy so as to increase protection for consumers and improve value for the profession.”
No one was available at the outgoing broker C J Coleman to comment.
As soon as we are aware of the changed being made to the Master Policy we will report on these changes. In the meantime we are assured by the CLC that there will be no gap in cover following the extension to the renewal period.
Prime Professions is an accredited Lloyd’s Broker and is authorised and regulated by the Financial Services Authority.
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